Funeral. Image credit

Funeral. Image credit

ZIMSEC O Level Commerce Notes: Insurance: Accident and health insurance,funeral assurance

Accident insurance

  • There are two forms of accident insurance:
  • Personal accident insurance and
  • Group accident insurance

Personal accident

  • Is taken by individuals.
  • It covers against total disability arising from accidents e.g. sports stars or surgeons.

Group accident.

  • Taken by a group as one policy e.g. an entire football team.
  • Covers injuries which prevent members to work for a certain period or permanently.
  • Members are paid compensation for loss of income due to injury.

Health insurance policy

  • Is taken by individuals.
  • It covers medical expenses.

Funeral Assurance

  • Is taken by individuals.
  • It covers burial expenses of the assured.

To access more topics go to the Commerce Notes page