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Difference b/w Life Insurance ?& Fire …

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Difference b/w Life Insurance ?& Fire Insurance ?

Posted by ? S. S. ? 4 years, 1 month ago

CBSE > Class 11 > Business Studies

1 answers

Meghna Thapar 4 years, 1 month ago

The main difference between Fire Insurance and Life Insurance is, fire insurance covers the losses caused by the properties of the policyholder whereas life insurance covers the losses that happened to the person of the policyholder. Life insurance covers your life. In case of policyholder’s premature demise within the policy term, the insurance company pays the sum assured to the nominee. One of the most essential financial instruments, life insurance helps your family to stay financially independent, square off liabilities taken in the form of loans, maintain the lifestyle provided, and keep essential goals on track.

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