Employee benefits and/or benefits in kind (also called fringe benefits, perquisites or perks) include various types of non-wage compensation provided to employees in addition to their normal wages or salaries.
Inherently, Life insurance provides protection against financial losses resulting from the premature death of a person. Products like endowment, pension plans and ULIPs also fall under the umbrella of life insurance.
Non-Life Insurance is a policy that provides compensation for losses incurred from a specific financial event. This type of policy is also known as general insurance, or property and casualty insurance.