i. General insurance policies are issued for a limited period (i.e. - 1 year) while life insurance policies may be issued until the life insured turns 99. ii. Life insurance policies are guaranteed renewable each year, while general insurance policies are only renewed if the insurance company deems the risk to be acceptable. iii. General insurance policies may have the terms and conditions altered upon renewal each year, while life insurance policies may not amend the terms and conditions of the policy unless they are an improvement iv. Life insurance policies can never change premiums, while general insurance policies can change premiums each year at renewal