What classification of insurance contract is considered personal?

In the context of insurance contracts, the classification of "personal" typically refers to contracts that are designed to cover individual risks or needs rather than business-related interests. Health contracts, which provide coverage for medical expenses and related services for individuals, are distinctly categorized as personal because they are tailored to the individual's health and wellness needs.

While property contracts deal with insuring physical assets, they are often tied to businesses and commercial interests. Similarly, auto contracts, while they cover vehicles, can be issued to both individuals and businesses, making them less clearly personal. Commercial contracts are inherently designed for business purposes and thus do not fit into the personal category.

Health contracts stand out as a classification that protects individual policyholders against the risk of significant healthcare costs, highlighting their personal nature. This focus on individual well-being underscores the personal classification of such contracts, distinguishing them from those that are primarily aimed at protecting business interests or tangible assets.