What are the key differences between life insurance and general insurance?
Updated: 06 Jun 2022, 05:27 PM IST
TL;DR.Life insurance pays out if the policyholder dies, whereas general insurance pays out if the policyholder suffers an unexpected loss, such as an accident, theft, or sudden liability. Life insurance is a long-term commitment for which you must pay premiums in regular installments. We try to uncover some of the key differences between the two.
Life insurance covers the risk of life of a person whereas general insurance covers non-life assets.