\tBasis DifferenceFire InsuranceMarine InsuranceLife InsuranceCompensationAmount insured or Actual loss which ever is less is given as compensation.Purchase price of goods and 10 - 15 percent profit is given as compensationNo loss is compensable only specific amount is paid.Insurable Interestinterest Insurable must exist both at the time of taking policy as well as the time of loss.Insurable interest must exist at the time of loss.Insurable interest must exist at the time of taking policy.Assignment of PolicyNo Assignment without permission of Insurance Company.No Assignment without permission of Insurance Company.No Assignment is done.Nature of RiskUncertainUncertaincertain but the time is uncertain.PeriodNormally for one yearNormally for one yearIt is taken for long term.PremiumPremium depends upon the amount insured. More the amount insured more will be the Premium.Premium depends upon nature of perilsPremium depends upon the age of the insured and term of policy.ObjectTo cover the risk of fire.To cover the sea perilsProtection and Investment.SurrenderCannot be surrendered before expiryCannot be surrendered before. expiry.can be surrendered maturity.\t

Difference between Fire, Marine and Life Insurance

1.	Difference between life fire and marine insurance
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