Why is it called general insurance?
General insurance is named so because it covers a wide range of insurance products that aren’t related to life insurance. It’s often referred to as non-life insurance or property and casualty insurance because it provides coverage for various aspects of life and property that aren’t directly tied to a person’s life or longevity. General insurance encompasses coverage for things like automobiles, homes, businesses, health, travel, and more, protecting against financial losses that result from unexpected events. The “general” aspect signifies its comprehensive nature, which contrasts with life insurance, which is specifically focused on providing coverage for one’s life and beneficiaries.
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