Insurance

Insurance

A legal contract in which the insurer (e.g., insurance company) agrees to compensate the insured (the policyowner) for unexpected losses. In return, the insured pays premiums to the insurer.

Types Of Insurance

There are two types of coverage

  1. personal insurance
  2. group insurance

Uses Of Insurance

Insurance is used for

Learn more about personal and corporate risks.

Life insurance can also be used as collateral for a loan.

Resources

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page revision: 18, last edited: 10 Apr 2013 17:45
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