Health insurance plan is a product offered by insurance companies that covers all costs related to medical expenses of the insured. This can be bought for an individual or for an entire family. The term of the plan is ideally fixed at one year and in some cases, one can buy the plan for a term of two to three years as well. With a health insurance plan in place, one gets entitled to adequate medical help in case of an emergency or in a pre-planned medical expense, without worrying about the financial costs.
General insurance has different types like term insurance policies, money-back policies, ULIPs, and pension plans. This category of insurance virtually covers all forms of insurance except life. Other covers may include insurance against errors and omissions for professionals, credit insurance, etc. Common forms of General Insurance (GI) are motor, marine, travel, accident, and other miscellaneous types.
