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General Insurance (Consumer Mathematics)

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siveash
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23 views10 pages

General Insurance (Consumer Mathematics)

Uploaded by

siveash
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PPTX, PDF, TXT or read online on Scribd
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CONSUMER

MATHEMATICS
: INSURANCE

GENERAL
INSURANCE
Group Members

AHMAD AZZIQRY ANDRE

ADIB AIMAN

GUGANESWARASIVAM

SIVEASH
WHAT ARE GENERAL INSURANCE ?

General insurance provides coverage against any loss or


damage of personal belongings suffered,apart from the
risk covered by life insurance .

There are many types of General Insurance .


TYPES OF GENERAL INSURANCE

MOTOR INSURANCE
FIRE INSURANCE
MEDICAL AND HEALTH INSURANCE
PERSONAL ACCIDENT INSURANCE
TRAVEL INSURANCE
MOTOR INSURANCE
. THE INSURANCE PROVIDES COVERAGE AGAINST ANY LOSS OR DAMAGE RELATED TO THE USE OF MOTOR
VEHICLES
. THE TABLE SHOWS THE COVERAGE OFFERED BY FOUR TYPES OF MOTOR INSURANCE POLICIES :

Third party, fire &


COVERAGE Act Third party Comprehensive
theft

Liability to third party


due to injury and Yes Yes Yes Yes
death.

Loss of property suffered


by third No Yes Yes Yes
party.

Loss to own vehicle due


to accidental No No Yes Yes
fire or theft.

Loss and damage to own


vehicle due No No No Yes
to accident.

A comprehensive policy provides a thorough protection compared to the other three policies as
above. The similarity on these policies is to give a protection excluding the claims by the driver
and passengers such as injury and death.
Fire insurance

. Fire insurance provides coverage against damage


caused by fire, lightning and explosion that occur at
home or business premise.

. Compensation will be paid by the insurance company


to recover the policyholder’s financial position, subject
to the sum insured.

. For coverage other than fire, lightning and explosion,


policyholder may incorporate additional coverages such
as hurricane, flood, riot and others into the existing fire
policy at an additional premium.
Medical and health insurance
. Apart from the risk of death, you should also be aware of the risks of
deteriorating health .

. This is because you may have to bear medical expenses such as .


hospitalisation and surgery costs. Some of the policies in this insurance
are:
• hospitalisation and surgical
insurance
• critical illness insurance
• disability income insurance
• hospital income insurance

The policyholder should pay


the premium continuously and
preodically
Personal accident insurance

. Personal accident insurance provides coverage in the occurrence


that the policyholder suffers a bodily injury, disability or death
resulting directly from accident.

. This insurance is different from life insurance, and medical and


health insurance

. Compensation will not be paid for death caused by diseases or


other reason .
Travel insurance

. Travel insurance protects policyholder against losses during


travel whether by land, air or sea such as death and
permanent disability, loss of luggage, passport and money,
medical expenses and others.

. usually , the coverage period is 1 year or less than a year .

. Premiums are paid once only when an individual needs the


coverage of the policy .
THANK
YOU

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