What is you know about insurance ?

Question

Accepted Answer

Insurance is a contract between an individual or organization and an insurance company, where the insurer provides financial protection against potential losses.

Insurance is a risk management tool that helps individuals and organizations protect themselves against potential financial losses.
It involves the transfer of risk from the insured to the insurer in exchange for payment of a premium.
There are various types of insurance such as life insurance, health insurance, auto insurance, property insurance, etc.
Insurance policies typically cover specific risks and provide compensation in case of covered events.
Insurance companies assess risks, determine premiums, and provide coverage based on the terms and conditions of the policy.
Insurance helps individuals and businesses mitigate the financial impact of unexpected events.
For example, life insurance provides a payout to beneficiaries upon the death of the insured, while health insurance covers medical expenses.
Insurance is regulated by government bodies to ensure fair practices and protect consumers.
Insurance can be purchased directly from insurance companies or through agents and brokers.
It is important to understand the terms, coverage limits, and exclusions of an insurance policy before purchasing.

Accepted Answer

Insurance is a contract between an individual or organization and an insurance company, where the insurer provides financial protection against potential losses.

Insurance is a risk management tool tha...read more

Accepted Answer

It is the financial institutions and more beneficial for human walfare in case of accident and disolvent etc.

Accepted Answer

It is a financial compensation of losses of life, health or thing which is insured.

What is you know about insurance ?

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