Difference between Health insurance, Life Insurance and Term Insurance ?

POSTED BY Girish ON March 26, 2014 8:20 pm ONE COMMENT

Hi All,

Please anybody can explain the difference between Health insurance, Life Insurance and Term Insurance.

In case of claim how these differ from each other. If i have 2 medical insurance from different company’s then i can claim in these 2 company’s? 

Regards,

Girish

 

One reply on this article “Difference between Health insurance, Life Insurance and Term Insurance ?”

  1. ashalanshu says:

    Dear Girish, if the total claim amount is more than single sum assured in one policy, you should claim from both companies. In case the claim amount is less than a single sum assured in one policy, please claim from one company.

    Term insurance is a type of life insurance where you pay prem. for risk cover of death. if you survive, nothing is repaid to you. if you die in between, the sum assured is paid to your nominee. The prem. is very low for such policies.

    health insurance as the name suggest is meant for your health related insurance cover.

    Thanks

    Ashal

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