Definition: The Insurance General, or IG, was a type of policy that provided comprehensive coverage for life, health, property, and liability risks. It was also known as a general policy and it covered only those types of risks that were not included in more specialized policies such as group health plans. General policies typically offered a broad range of benefits including death benefits, income replacement, survivors benefit, and disability benefits. They often had clauses that allowed for different types of life events to be excluded from coverage, such as accidental injuries or pre-existing conditions. The Insurance General was particularly popular in the United States during the 20th century, when it became the standard policy type for individuals seeking comprehensive protection against the risks associated with aging and death. It played a significant role in providing financial support to those who were unable to afford private life insurance policies due to their age or health conditions. The Insurance General is still an important component of many people's insurance portfolios today, often being included as part of a broad range of coverage plans.
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