 Submitted to: Mrs.

Pooja Mam
 Submitted by: Savita (180101040013)

Pallavi (180101040028)
WHAT IS INSURANCE?
Insurance is a legal contract that transfers risk from a
policyholder to an insurance provider.
 Types of
Insurance

On the basis On the basis

of business of risk point of
point of view view

General Personal Liability Property

Life insurance
insurance insurance insurance insurance

Fidelity
Marine Miscellaneous
Fire insurance guarantee
insurance insurance
insurance

Motor Accident Cash

insurance insurance insurance etc.
GENERAL INSURANCE
 General insurance or non-life insurance policies,
including automobile and homeowners policies, provide
payments depending on the loss from a particular
financial event. General insurance is typically defined as
any insurance that is not determined to be life insurance.
TYPES OF GENERAL INSURANCE
 Fire insurance
 Marine insurance

 Motor insurance

 Accident insurance

 Cash insurance
.
WHAT IS FIRE INSURANCE?
 Fire insurance is property insurance that covers damage
and losses caused by fire. The purchase of fire insurance
in addition to homeowner’s or property insurance helps
to cover the cost of replacement, repair, or reconstruction
of property, above the limit set by the property insurance
policy. Fire insurance policies typically contain general
exclusions, such as war, nuclear risks, and similar perils.
TYPES OF FIRE INSURANCE
 Valued Policy
 Specific Policy

 Average Policy

 Floating policy

 Excess Policy

 Blanket Policy

 Comprehensive Policy

 Consequential Loss Policy

 Reinstatement Policy
MARINE INSURANCE
 Marine insurance covers the loss or damage of ships,
cargo, terminals, and any transport by which the property
is transferred, acquired, or held between the points of
origin and the final destination.
 TYPES OF MARINE INSURANCES
 Cargo Insurance or Freight insurance
 Liability Insurance

 Hull Insurance

There are various other marine insurance plane

available, some which are:
o Time plan
o Voyage plan
o Mixed plan
o Port risk plan
o Floating plan
o Valued plan
o Blanket policy
MOTOR INSURANCE
 Motor vehicle insurance, also called automotive
insurance, a contract by which the insurer assumes
the risk of any loss the owner or operator of a car may
incur through damage to property or persons as the result
of an accident. There are many specific forms of motor
vehicle insurance, varying not only in the kinds of risk
that they cover but also in the legal principles underlying
them.
CAR INSURANCE
 It is contract between you and insurance
company that protect you against financial loss
in the event of an accident or theft.

 It provide coverage for:

1.) property
2.) liability
3.) medical
ACCIDENT INSURANCE
 Accident insurance is insurance that provides
compensation for accidental injury or death.
 It is a broad term that covers specialty policies available
through an employer.
 It coverage that pay benefits in case of sickness,
accidental injury or death
TYPES OF ACCIDENT INSURANCE
 Death & dismemberment
 General accident insurance

 Disability insurance
CASH INSURANCE
 Cash insurance is cover which indemnifies the insured
against loss of money and includes cash, bank drafts,
currency notes, treasury totes, cheques, postal orders and
current postage stamps.
 The policy covers: loss of money in transit, by
the Insured or the Insured's authorized employee(s),
occasioned by robbery, theft or any other fortuitous
cause.
LIFE INSURANCE
 life insurance is a contract between an insurance
policy holder and an insurer or assurer, where the insurer
promises to pay a designated beneficiary a sum of money
(the benefit) in exchange for a premium, upon the death
of an insured person (often the policy holder).
Depending on the contract, other events such as terminal
illness or critical illness can also trigger payment. The
policy holder typically pays a premium, either regularly
or as one lump sum. Other expenses, such as funeral
expenses, can also be included in the benefits.
PROCEDURE OF LIFE INSURANCE
BENEFITS OF LIFE INSURANCE
 Risk Coverage
 Difference plans for different uses

 Cover for Health Expenses

 Promotes Savings/ Helps in Wealth creation

 Guaranteed Income

 Tax Benefits
PERSONAL INSURANCE
 Personal insurance is any insurance that protects you from having to
pay out of pocket for accidents, illness or damage to your property.
To get insurance, you agree to pay a monthly or annual premium in
return for a payout when you need it.
LIABILITY INSURANCE
 Liability insurance provides the insured party with
protection against claims resulting from injuries and
damage to people and/or property.
 Liability insurance policies cover both legal costs and
any payouts for which the insured party would be
responsible if found legally liable. Intentional damage
and contractual liabilities are generally not covered in
these types of policies.
 [Important: Liability insurance is also called third-
party insurance.]
PROPERTY INSURANCE
 Property insurance provides protection against most
risks to property, such as fire, theft and some weather
damage. This includes specialized form
of insurance such as fire insurance, flood
insurance, earthquake insurance, home insurance,
or boiler insurance.
FIDELITY GUARANTEE INSURANCE
 Fidelity guarantee is a type of insurance an employer
purchases to protect against business losses that are not
under general policies for theft or burglary. Fidelity
guarantee also is referred to as a fidelity bond or fidelity
insurance.
 Protects employers from financial losses that are a result
of employees who embezzle, commit forgery, fraud or
steal directly from a company. Protection offered by
fidelity guarantee insurance can be designed to cover all
employees or just an individual worker or position within
a company.