Life and General Insurance Flashcards
1
Q
What are Life Insurance and General Insurance?
A
Life Insurance compels savings for retirement or old age.
General Insurance such as motor property and marine insurance covers all non-life risks.
2
Q
What is Bancassurance?
A
Bancassurance is the relationship between banks and insurance companies that is aimed at offering bank clients insurance products and benefits.
This partnership occurred in late 1993, and licensed Financial Advisers in 2005, the distribution of these products are diversified and extended for the consumers.
