A model regulator of a secure and developed insurance industry

HOW MANY FORMS OF INSURANCE ARE THERE?

There are two forms of insurance life (long term) and non‐life/general (short term). Life assurance contracts run for more than one year whereas general insurance contracts run for one year or less.

There are life products like Group life, offered for a year and taken out to cover several people on one policy. These are majorly taken by employers for employees.

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