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What are the four types of insurance products and their explanations?

What are the four types of insurance products and their explanations?

Here are four types of insurance products and their explanations

  1. Life Insurance, Life insurance functions to provide guarantees for the death of a person by providing financial benefits as promised.
  2. Health Insurance, Health insurance serves to provide coverage for health problems caused by an illness experienced by the insured.
  3. Education Insurance, Education insurance functions to guarantee the education of the children of policyholders (parents) or future education savings for their sons and daughters.
  4. General Insurance, General insurance functions as a form of risk coverage to provide reimbursement to policyholders for losses suffered.

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