👉 Are you part of The Sanjay Mentoring? Join here : 🤔 What Is Insurance? 🤔 To answer that, we first need to talk about RISK and REWARD. Insurance means transferring risk to a third party that would compensate you for losses. So, what are the different types of insurance? Many insurers can be categorized into three categories. You have LIFE insurance, MEDICAL insurance, and NON-LIFE insurance. ✅ LIFE INSURANCE: Whole life, term, universal, unit linked, variable universal Once you understand that there are three primary categories, it’ll be easier to decide what risk you need to insure. So spend some time to study which type of insurance is most suitable for you!
✅ MEDICAL INSURANCE: Critical illness, long term care, disability
✅ NON-LIFE INSURANCE: Car insurances, property insurances, travel, home, business risk, liability insurances.
