SP - Term Life Insurance

I remember watching this show on 8tv and they were talking about insurance.

They went to the streets and started asking people what do they know about insurance. How many types of insurance are there, for example.

There I went, listing out all the types of insurance I knew. Car insurance, term life insurance, travel insurance, property insurance and stuff.

Think that's correct?

WRONG!

(Seriously, I don't see what's wrong with my answer..)

There are only two types of insurance, life and general(non-life) insurance.

Life insurance concerns anything related to your life/health. Whole life insurance, universal life, endowments and stuff.

General insurance is car insurance, property, business insurance etc. Huh.. They've got volcano insurance, too. It "covers volcano damage in Hawaii." (Wikipedia.com, 2007)


If Hawaii's volcanoes are insured, does that mean Christmas Island has insurance for it's red crabs, too?


Photo from ABC Online

Hehehe..