Classification of insurance policy

Insurance policy can be categorized in the insurance and insurance.

What is insurance?

This is a guarantee for the provision of security or protection against possible Hurt, damage, loss or liability. Here an agreed lump sum (as specified in the rules) is paid as compensation to risk insurance against loss or damage.

Liability insurance is divided into three forms, as follows:

1. Marine

2. aviation and

3. other (other insurance)

Marine insurance

This includes all vessels intended for the transport of water, both marine and freshwater areas. This includes enormous commercial insurance of hull and cargo sail s-boats, yachts, motor boats and small crafts as a whole.

Marine insurance covers these areas:

· Hull insurance

· Cargo insurance

· Cargo insurance

· Other aspects such as insurance of responsibility

Marine insurance may be provided in policy in various forms such as:

· Travel policy

· Time policy

· Valued policy

· UN-valued policy

· Floating policy

Aviation insurance

This ensures the hulls of aircraft, civil liability and legal responsibility for passengers. Compensation, or rather claims often reach extremely enormous quantity, although the responsibility of passengers is limited by international conventions.

All above sea areas of insurance coverage and policy are also applicable to the aviation industry, with little or no exception.

Other insurance

They are listed as follows:

· Fire

· Theft and theft

· Insurance of liability (including third party)

· Insurance interest

· Subsequent loss of profit

· Agricultural

· Bad debts

· Export credits, etc.

What is insurance?

Insurance for which it is not different from compensation. In the event of death, illness or accident, no amount of compensation may correspond approximately to the emotional disturbance are tested by the death of a human by sickness or accident, nor can be compensated for counter-if, pain, sickness, or cash payment from any insurance company, compensate for the loss of a leg or arm in the accident.

Logic of compensation, no matter how big it is, is to provide a cash payment of the insured person as a form of "Consolation" or "benefit".

Let him that way, if Mr Adam take insurance and after several years of fair payment of premiums, he has an accident and death. The insurance company will pay the family of Mr. Adam, or anyone who is the beneficiary, the amount-guaranteed. The money is devoted to Mr. Adam family cannot recover the Adam for Mr.., his love for his family, nor the money to redeem the emotional pain, shall be tested by their loved ones or compensate for Mr. Adam presence and his actions.

In the event of loss of any of its limbs is the amount of compensation you can delete the pain shall be tested by Mr Adam on the limbless of Ness or emotional imbalance resulting from becoming disadvantaged person. In this case, any compensation paid to Mr Adam on the insurance company is in the form of "benefit" or "Consolation" payments.

Liability insurance, which does not consist life ofinsurance and insurance.

The life assurance not benefit exists in three forms:

The whole life insurance

Term insurance, and

Endowment insurance

There are two forms of life insurance policies without compensation:

· Disease

-Benefit life insurance policy is an insurance policy because of the possible of any form of disease. Let's assume the Adam for Mr. waive-compensation insurance and it suddenly indisposed. The insurance company will pay your medical bills, as well as some other compensation covered by its insurance policy. This may include, but not limited to, payment for loss of remuneration during the period of sickness, etc.

· Personal accident, leading to the death or disability

Insurance policy may be taken as protection against personal accident. In a situation where a policy-holder has an accident and as a result, lost a limb or death of the insurance company will pay the amount of the insured (as in the policy) to the patron, i.e. the person (in the case of a personal accident of limb (s)) or a relative/person whose name is a policy (in the case of death).

However, apart from personal accident, accident and is sub-divided in:

· Theft and "all risks"

· Responsibility of employer and public responsibility

· All risks of contractors

· Motor

· Guarantee of accuracy and unforeseen circumstances

· Livestock

· Glass

· Time

· Engineering

· Travel, etc.

For more explanation http://insurancefarmland.blogspot.comgo to

My name is David Mog. I am a mathematician by profession. I studied in Ontario, Canada. Over the past 15 years, I've been almost all over the world in my consultancy projects.

I specialize in research and development, which deals with the design of computer programs in resolving specific problems. In particular, I was once Insurance Commission before I went for my college education. And so all the pros and cons of insurance in the world are well known to me as the lines of my palms.

I've been in Japan, South Korea, Australia, England, Netherlands, South Africa, Egypt, just to mention a few. Now, I'm currently in the West Africa sub-region, where I have a current project I'm working.

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