Business Studies

Make a list of the differences between Life Insurance and General Insurance.


SOLUTION
 Basis of differenceLife insuranceGeneral insurance 
 1. Subject matter
2. Duration
3. Indemnity
4. Measurement of loss
5. Surrender Value.
Life of a person is the subject matter. 
The policy is for a period of more than one year.
Not based on the principle of indemnity.
The loss is not measurable.
The policy has a surrender value.
 A property or a thing is the subject matter.
The policy is only for one year.
Based on the principle of indemnity.
The loss is measurable.
The policy has no surrender value.


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Subjective Medium Published on 18th 08, 2020
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