Type of Insurance

Type of Insurance



An assortment of insurance, we consider categorized into 2 types;

1. An assortment of insurance under the Insurance Department.

2. An assortment of insurance in accordance with the insurance industry.



An assortment of insurance under the Insurance Department, can be classified into three major categories;

1. Insurance of the person is insurance on the risks that cause damage concern to a person or damage to a person as following; 

     1.1 Life insurance
     1.2 Personal accident insurance
     1.3 Health Insurance


2. Property Insurance is insurance contract insurers agree to indemnify or reimburse the amount of the insured in case of damage to the property insured as following;

     2.1 Fire insurance
     2.2 Car Insurance
     2.3 Marine and transportation insurance
     2.4 Miscellaneous insurance


3.  Liability Insurance is the insurance company agrees to indemnify the insurer contracts or pay a sum of money to an individual who has been damage to life or property of a third party, arising from the acts of the insured as following;


     3.1 Insurance individual responsibilities to others.
     3.2 Insurance individual responsibilities to others.
     3.3 Liability insurance business to others.

Benefits of Insurance

Benefits of Insurance



Benefits of Insurance broadly summarized into 3 categories;

1. Insured benefits

• As collateral against the person and the family of the insured when a family member died.

• When there is damage to the property of the insured. Insured will receive compensation for Compensation from the insurer

• Help cultivate the habit of saving and savings.

• Tax deductible for Individual income tax

2. Economic and social benefits

• Help strengthen the social

• Reduce uncertainty in society

• A social welfare

• Help with funding to developing countries

3. Business Benefit

• Contributes to the efficiency of the business.

• Approval of the Bank as collateral for loans.

• Contribute to international trade as well.

• Allows to calculate the cost close to reality.

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The meaning of the Insurance

The meaning of the Insurance


Definition of insurance as many words as follows:

Mark S. Dorfman: Insurance is a financial management, the distribution of losses are not expected.

Frederick G.Crane: Insurance is the management of risk by the losses that have occurred. The value of the loss is then averaged to give the participants the total risk.

Subcommittee on Research and Academic Association of Insurance: Insurance was a person who serves as collateral to a third party, the other party. The promise that he would not have suffered from the disaster to happen in the future, which caused the loss or damage to life and his property.

By the primary insurer to pay compensation in the amount and terms of the agreement. Or may cause the insured to return as well, or as close to the original. By the collateral will be paid according to the number of the other party agreed.


Civil and Commercial Code, Section 861 provided that;
" Insurance contract is a contract in which one party agrees to compensation claims or the amount of money in case if there is a casualty or circumstance else in the future as stated in the contract. In this regard, another person agrees to remit called premium "




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