What is insurance?

May 10, 2022 4:14 pm Published by

Insurance is a contract, represented by a policy, in which an individual or entity receives financial protection or reimbursement against losses from an insurance company. The company pools clients’ risks to make payments more affordable for the insured, also meaned transferring the risk of a financial loss you might experience due to life’s uncertainties to an insurance company for a small fee called premium.

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