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What are the two major types of insurance companies

What are the two major types of insurance companies

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Answer #1

The two major types of insurance companies are:

1) life insurance : These insurance are related with the insurance of life on individual. This ia related to lofe of a person.it has various types like term insurance, whole insurance. These type of insurance are triggered on occasion of death or end oflife of insurance as the case may. In this type of insurance it is compulsory to nominate a nominee.

2) General Insurance : This insurance other insurance like property and casualty insurance, car insurance, fire insurance etc. These insurance also comes in various type and size. These insurance are triggered by happening of an event or end of insurance life whichever is earlier.

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