SHS ADVISORY GROUP - types of insurance

For life insurance- insurable interest must be present at the time when the insurance is effected.

Kinds of life insurance policy
- Whole life policy, endowment policy, Joint life policy, with or without profit profile, annuity policy, sinking fund policy, convertible whole life policy, group insurance policy.

For fire insurance
- insurable interest must be present at the time of insurance and at the time of loss.
- Here the insurance policy can not be transmitted without the permission of insurer.

Kinds of fire insurance policy
- valued policy, specific policy, floating policy, comprehensive policy, consequential loss policy, replacement policy, average policy, sprinkler leakage policy, blanket policy, declaration policy.

For marine insurance
- insurable interest must be present at the time of loss.
- Here the insurance policy can not be transmitted without the permission  of insurer.

Kinds of marine insurance policy
-valued policy, open policy, floating policy, voyage policy, time policy, mixed policy

for more info : SHS ADVISORY GROUP