TYPES OF INSURANCE POLICY
Personal insurance/life assurance. This may involve whole life policy where one pays premium and in an event of death, the insurer pays the beneficiaries of the dead, also an entrepreneur may insure the life of his debtors, such that in the event of death, the insurer will pay him / her amount owed by the customer Fire insurance. This policy protects an entrepreneur’s business against loss arising from fire outbreak, like compensation for the loss of business property and stock. Fire and special peril policy safe guard an entrepreneur against fire damages and the consequential losses arising from it Theft and burglary. This policy may be taken by an entrepreneur to protect from loss arising out of theft or burglary of the business merchandise, property etc. this means that in the event of loss resulting from theft and burglary, the insurance company compensates the insured Loss of profits. This policy will insure an entrepreneur against losses arising from operational losses in b...