Insurance Explained: Definition, How It Works, and Key Policy Types

Insurance Explained: Definition, How It Works, and Key Policy Types

What Is Insurance? Insurance is a financial safety net that protects individuals and businesses from unexpected losses. It works as a contract between the policyholder and an insurance company, where the insurer agrees to cover specific risks in exchange for regular payments called premiums. Whether it’s for your car, home, health, or life, insurance provides … Read more

Understanding Insurance: A Comprehensive Guide

Understanding Insurance: A Comprehensive Guide

What is Insurance? Insurance is a financial mechanism designed to provide protection against potential financial losses by transferring risk from an individual or business to an insurance company. The fundamental purpose of insurance is to offer peace of mind, enabling policyholders to mitigate the financial impact of unforeseen events. Through the pooling of risk among … Read more