Insurance is a means of protection from financial loss.Insurance is help too safe from any risk.
Which provides insurance is known an insurer or insurance company. Who is buys insurance is called as an insured. mainly insurance transactin involves the insured assumpimg a guaranteed or safe from related small loss in payment to the insurer in exchange for the insurance promise to compensate the insured a covered loss. the loss may be financial or non financial insurance reduce financial term. the
Insurance Receive the contract is called insurance policy. There are the detail of the condition which the insurer will be make up insured.The amount of money chared by insurer to the police holder or insurance company for the coverage set forth in the insurance police is called insurance premium.
Types of insurance
1 Life Insurance : insurance that pays out a sum of money either on the death of the insured person or after a set period.
Example
- whole life insurance
- term life insurance
- variable life insurance
2 Non Life insurance: also called property and casualty insurance, is a type of coverage that is very common and covers businesses and individuals. It protects them, monetarily, from disaster by providing money in the event of a financial loss.
Example
- company insurance
- car insurance
- shop insurance
Which provides insurance is known an insurer or insurance company. Who is buys insurance is called as an insured. mainly insurance transactin involves the insured assumpimg a guaranteed or safe from related small loss in payment to the insurer in exchange for the insurance promise to compensate the insured a covered loss. the loss may be financial or non financial insurance reduce financial term. the
Insurance Receive the contract is called insurance policy. There are the detail of the condition which the insurer will be make up insured.The amount of money chared by insurer to the police holder or insurance company for the coverage set forth in the insurance police is called insurance premium.
Types of insurance
1 Life Insurance : insurance that pays out a sum of money either on the death of the insured person or after a set period.
Example
- whole life insurance
- term life insurance
- variable life insurance
2 Non Life insurance: also called property and casualty insurance, is a type of coverage that is very common and covers businesses and individuals. It protects them, monetarily, from disaster by providing money in the event of a financial loss.
Example
- company insurance
- car insurance
- shop insurance
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