Insurance is a contract in which insurance company agrees to pay costs to a person for any losses or damages caused by risks identified in the contract in exchange for the payment of a lump sum or periodic amounts of money to the insurance company.
There are different types of insurance in different fields of life.
Health:
Accidental death and dismemberment insurance, Disability insurance, Total permanent disability insurance, Income protection insurance , Dental insurance, Vision insurance, Long term care insurance etc.
Life:
Permanent life insurance , Term life insurance, Universal life insurance , Variable universal life insurance ,Whole life insurance etc.
Business:
Bond insurance, Errors and omissions insurance, Fidelity bond, Professional indemnity insurance, Professional liability insurance, Protection and indemnity insurance etc.
Residential:
Contents insurance, Earthquake insurance, Flood insurance, Home insurance , Landlords insurance, Mortgage insurance, Property insurance etc.
Other types:
Casualty insurance , Crime insurance , Crop insurance , Group insurance ,Liability insurance , Marine insurance ,No-fault insurance ,Pet insurance, Phone insurance, Reinsurance, Terrorism insurance, Vehicle insurance, Wage insurance , Weather insurance , Workers' compensation etc.
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