Kinds Of Insurance Contract

Insurance contracts are classified as follows:

1)       Life insurance contracts

          a)      Individual (Sections 179-183, 227)

          b)      Group Life (Sections 50 and 228)

          c)      Industrial Life (Sections 229-231)

2)       Non-Life Insurance Contracts

          a)      Marine (Sections 99-166)

          b)      Fire (Sections 167-173)

          c)      Casualty (Section 174)

3)       Contracts of Suretyship and bonding (Sections 175-178)