Types of Insurance ~ TURN ON YOUR LIFE

Friday, April 27, 2012

Types of Insurance

Broadly speaking, insurance consists of three categories, namely:

Consists of insurance for property (property, vehicles), a financial interest (pecuniary), the legal responsibility (liability) and self-insurance (accident or health).

life insurance
Essentially a form of cooperation between the people who avoid or at least reduce the risks posed by the risk of death (which would happen but not sure when it happened), the risk of old age (which is bound to occur and can be expected when it happened, but it is uncertain how old) and the risk of accidents (which is not inevitable, but not impossible). Where cooperation is coordinated by the insurance company, which works on the basis of the law of large numbers (the law of large numbers), which spread the risk to people who want to cooperate. Included in programs such as life insurance: insurance for education, retirement, investment, stages, health.

Social Insurance
Social insurance is compulsory insurance program organized by the government under the Act. Intent and purpose of social insurance is to provide the basic guarantee for the public and is not intended for commercial profit.

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