What do you know about insurance

Question

Accepted Answer

Insurance is a contract between an individual and an insurance company to protect against financial loss.

Insurance provides financial protection against unexpected events such as accidents, illnesses, and natural disasters.
Premiums are paid to the insurance company in exchange for coverage.
There are different types of insurance such as health, auto, home, and life insurance.
Insurance claims are filed when a covered event occurs and the insurance company pays out benefits.
Insurance policies have terms and conditions that outline what is covered and what is not.
Insurance companies use actuarial science to calculate risk and set premiums.
Insurance is regulated by state and federal laws to protect consumers.
Examples of insurance companies include State Farm, Allstate, and Geico.

Accepted Answer

Insurance is a way to manage your risk. When you buy insurance, you purchase protection against unexpected financial losses.

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