There are thousands of companies all around the world that offer insurance services to the people who wish to get themselves insured. Since, there is a huge demand of insurance companies amongst the masses, a variety of insurance schemes have cropped up thereby classifying the companies into different genres. These companies have different regulations and working parameters in accordance to the government policies under affect in the country.

The Insurance companies can be categorized in the following manner:

General Insurance Companies: These are the companies that sell insurance services for items possessed by the people. The wide range of items that can be insured under such a scheme may vary from household belongings to organizational infrastructure. These policies are subject to unavoidable and unforeseen situations, called perils like earthquake, fire, floods, etc. that can have devastating effects on the financial conditions of the policy holder. This kind of insurance is valid for a short period of time, say a year or two, after the completion of which, the policy has to be renewed.

Life Insurance Companies: These companies are those which provide insurance services pertaining to death of the insurer, under which, in the happening of the insurers demise, the insured value is reimbursed to the other members of the household. Another popular service provided by them is the pension products that come into effect after retirement. These policies are long term in nature and can cover a period of decades before they become invalid.

Reinsurance Companies: The policies available at these insurance companies are for the other insurance companies and not for the general public. These companies, which act as their guardians, are owned by big corporate firms with huge amounts of cash reserve with the aim of bailing out an insurance company from bankruptcy in case of heavy losses. There have been very rare cases of such a policy to coming to effect and as expected, the premiums are high.

Consultation Companies: These companies do not provide an insurance policy of their own but provide consultation services in regard to getting an insurance policy from one of the many aforesaid companies. They have insurance consultants who keep an account of the various schemes that are being offered by the various firms and recommend one that suits the interests of the client. The revenue earned by them is subject to these services being availed.

In a similar manner, the insurance companies deploy their agents, known as insurance brokers, who go around selling insurance policies to anyone who would buy them. This is a mechanism adopted by the companies to expand their share of clients in the market. The agents earn their bread on commission basis from the insurance agencies.

Although it can be seen that there are 4 major categories under which the insurance companies can be classified, the first two are the only ones that are of any context to the general public. The third one is nowhere close to being of any use and the forth, is actually an indirect way of referring to the first two. They are generally used by those who have trouble analyzing the schemes or filing the required documentation.

If you're religious, consider choosing a Christian Insurance Company - praise the lord!