| Life insurance | General insurance |
| 1. Insurance taken for a human life is called life insurance. | 1. Any form of insurance other than that of life insurance of humans is called general insurance. |
| 2. The premium is paid for covering the risk of human life. | 2. The premium is paid for covering risk material things, accidents, events like flood, tsunami, etc. |
| 3. There are two sub types namely (a) whole life insurance and (b) endowment insurance. | 3. There are three sub types namely (a) Goods transportation insurance, (b) Fire insurance, (c) Other general insurance |
| 4. The insure may or may not see the money he gets from insurer. | 4. In most cases, the insuree can always see the money he gets from insurer. |
