General insurance or non-life insurance policies, including automobile and homeowners policies, provide payments depending on the loss from a particular financial event. General insurance is typically defined as any insurance that is not determined to be life insurance.
Benefits of General Insurance
- Financial Security of Life and Assets in case of an unexpected future event.
- Tax Relief by way of deductions from Income, which lowers tax burden.
- Encourages saving and helps in Financial Planning for the Future.