Type of Insurance

Insurance consists of three categories:

1. Insurance losses
 

This type of insurance consists of insurance for the property (such as property, vehicles), financial interest (pecuniary), legal responsibility (liability) and self-insurance (accident or health).

2. Life insurance

This is a form of corporation done between people who avoid or minimize the risk caused by the risk of death, this is things that can not be avoided, will befall anyone, the risk of old age, and risk of accidents. Things outside the 3 points above that fall into this category are: education insurance, retirement, investment, stage, and health.

3. Social Insurance

this type of insurance shall be regarded as held by the government under the Act. The purpose of this social insurance is to provide or providing basic security to the community and are not intended for commercial gain.