The Different Types of insurance

The Different Types of insurance( life insurance, group insurance)

Taking out insuranceis more than a necessity in view of the advantages it presents. It is a prevention practice that allows the insured to anticipate any possible situations that may arise. It is a service that is offered when an unexpected or unexpected event occurs in the life of the insured. This financial service for the most part can be granted to an individual, an association or a company. Depending on the type of activity you exercise or according to your needs, you can subscribe to a particular type of insurance.

The Different Types of insurance

What are the different types of insurance?

There are 4 major insurance groups to which you can subscribe. Individual insurance, group insurance, property insurance and activity insurance. Each insurance group has several types of insurance.

Individual insurance: these relate to retirement insurance, death and disability insurance, additional health insurance, home key insurance, life insurance. These insurances cover risks caused by natural persons. We can give as an example the famous MAAF life insurance

Group insurance: these apply to associations. Thus, a distinction is made between group provident insurance, group retirement insurance, employee savings plans, and group insurance for severance pay.

Property insurance: they take care of the protection of real estate, cars, furniture, etc. against damage that occurs unintentionally. However, we distinguish between automobile insurance, property and casualty insurance, motorcycle insurance, vehicle fleet insurance, local insurance, goods insurance etc.

Activity insurance: these cover damage caused by a business activity. Thus, we can cite the ten-year guarantee, civil liability insurance, legal protection insurance, professional activity insurance, etc.

Each type of insurance has a range of guarantees and this is what motivates policyholders. Accidents, illnesses, retirement, owning property are all things that anyone can be subject to at any time. Insurance, whatever its type, helps individuals in the event of difficulty or incapacity.

The advantages of taking out insurance

Insurance is an essential element when living in society. Human beings face many situations that can happen randomly, and insurance is a better alternative for dealing with unforeseen events. This being the case, when you are insured, you can pay health costs, become the owner of a property, drive your vehicle in peace, maintain an acceptable standard of living in the event of disability, manage a business, benefit from holidays without worrying about the cancellation of a flight, taking care of the needs of his family in the event of death etc.