Difference Between Insurance and Premium
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To safeguard ourselves against unforseen circumstances such as death, destruction of our properties through fire, water or theft, we sign up for insurance packages to cushion us against bad days.

For every insurance policy you sign up for, we pay an insurance premium on a monthly or annual basis to keep the policy active.

ALSO READ 👉 What’s the Difference Between Insurance and Premium?

There are several types of insurance that a person can sign up for to protect his or her properties such as cars, houses, shops, personal health, pets, businesses, travel, profession or occupation among others.


 Types of Insurance are; 

Car insurance, Life insurance, Health insurance, Home insurance, Term life insurance, Whole life insurance, Travel insurance, Property insurance, Business interruption insurance, Endowment policy, Disability insurance, Critical illness insurance, Professional liability insurance, Umbrella insurance, Universal life insurance, Flood insurance, Renters’ insurance, Comprehensive Coverage, Variable universal life insurance, Pet insurance, Marine insurance, General insurance, Comprehensive among others.

What type of insurance is the most important?

Health insurance is the most important type of insurance according to the data available. According to a report in the year 2016 by Kaiser Family Foundation/New York Times one in five people with medical bills filed for bankruptcy with most being unable to fund their medical bills.
It is also said that, when there is good health, all thing are possible and this is the more reason why a person needs to sign up onto an insurance Policy.
SOURCE: Keeoko.com

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