Question
What is the difference between life insurance and
general insurance in India?Solution
Life insurance and general insurance are two different types of insurance in India. Life insurance covers risks related to death and disability, while general insurance covers risks related to property, health, and other types of risks. Life insurance is generally a long-term contract and provides a lump-sum payment to the beneficiaries in case of the policyholder's death or disability. General insurance, on the other hand, is a short-term contract and provides compensation for losses or damages caused by unforeseen events like accidents, thefts, natural disasters, and other similar risks. Hence, option A is correct.
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