Non-life insurance, also known as general insurance, provides financial protection against losses not related to life, such as property damage, liability, and health issues. It includes products like health, motor, home, travel, and business insurance.

A premium is the amount you pay to the insurance company to maintain coverage for a specified period. It can be paid annually, quarterly, or monthly.

A deductible is the portion of a claim you are required to pay out of pocket before the insurance coverage kicks in. Higher deductibles typically result in lower premiums.