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What is the Distinction between compulsory and non compulsory insurance?
Wiki User
∙ 10y ago
differentiate between complusory and non-compulsory insurance and examples of each
Wiki User
∙ 10y ago
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What is non compulsory insurance?
Non-compulsory insurance is a type of insurance that is not lawfully required, but can still be used for protection. It can add protective measures for both people and property.
What is non-compulsory insurance?
Non-compulsory insurance is a type of insurance that is not lawfully required, but can still be used for protection. It can add protective measures for both people and property.
What is the difference between compulsory and non-compulsory insurance?
Non-compulsory insurance is purchased at the option of the buyer. For example, a consumer can decide to purchase a life insurance policy but is not required to by law. Another example of non-compulsory insurance is trip insurance which some consumers buy to protect against travel risks such as illness, lost luggage, or cancelled flights. Consumers who decide not to insure certain risks are effectively self insuring themselves by taking on the full risk of any loss. Compulsory insurance is required by law or as a mandatory requirement of obtaining certain goods or services. Examples of compulsory insurance are auto liability insurance which is required by state laws and home owners insurance which is compulsory on bank financed homes.
Is it compulsory to procure composite license for Life and Non Life Insurance?
yes. because Life and non-life are two different kind of insurance.
What is a compulsory and non compulsory?
Something is compulsory if you have to do it, if you are forced to do it. If you have a choice, it's non-compulsory.
Definition of the prefix non?
NOT eg non-compulsory = not compulsory
What is the difference between Non Trucking Liability insurance and Bobtail Insurance?
your not covered for damages
Can a non violnet felon have a firearm?
No. Felons may not own, possess, or have access to firearms - no distinction in the law is made between violent and non-violent felons.
What is the distinction between things sacred and secular?
Things sacred are things that are religious and holy. Things secular are things that are non-religious, wordly or non-spiritual.
Who was fasting compulsory Muslims or Non Muslims?
shadan
What does non discretionary mean?
Required, obligatory, compulsory.
Difference between marine and non marine insurance?
Marine insurance covers the loss of ships, cargo, terminals, and the loss of cargo. Non-marine insurance does not cover any of these things and would include all other types of insurance.
