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Types Of Insurance Mind Map - Coggle Diagram
Types Of Insurance Mind Map
Car Insurance
Compulsory
Criminal offence otherwise
Third Party
Covers Damage Caused By Insured Driver
Doesn’t Cover Policy/Vehicle
Third Party, Fire and Theft
=(Third Party) + Compensation for fire or theft
Comprehensive
Covers Everything
Three Types
Travel Insurance
Covers Losses while Travelling
Home Insurance
Buildings Cover
Covers Fire, Flood, Storm, Accidental Damage
Provides Compensation For Damage
Contents Cover
Covers All Contents From Damage Below And Burglary
Most policies Cover BOTH
In event of Illness or Accident
Health Insurance Covers
Cost of care, Some Medical Bills
It can covet for Stay or operations
Private Health Insurance
Mortgage Protection Insurance
If Insured Person Dies Before Their Mortgage is Fully Repaid
Mortgage Owed Is Repaid To Lender
Life Assurance
Protection Against Death
Policy Is Paid When They Die
Three Main Types of Cover
Whole Life Policy
Compensation is Paid on Death
To Family Of Insured Person
Endowment Policy
Pays Gauranteed Amount on Specfic Date
Or On Death. Whichever Is First
Term Policy
Covers Fixed Time Period
Usually Duration of Loan or Mortgage
If Insured Person Dies
Outstanding Amount is Paid
Premiums and Cover End At Mortgage repayment