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| life insurance secure the life |
Insurance is a form of risk management the main purpose of
insurance is used to hedge against the
risk of a contingent, sudden accident and uncertain loss. Insurance is defined
as the equitable transfer of the risk of a loss, from one entity to another, in
exchange for payment. An insurer, or insurance carrier, is a company selling
the insurance; the insured, or policyholder, is the person or entity buying the
insurance policy. The amount to be charged for a certain amount of insurance
coverage
is called the premium. Risk management, the practice of appraising and controlling risk, has evolved as a discrete field of study and practice.
is called the premium. Risk management, the practice of appraising and controlling risk, has evolved as a discrete field of study and practice.
The transaction involves the insured assuming a guaranteed
and known relatively small loss in the form of payment to the insurer in
exchange for the insurer's promise to compensate (indemnify) the insured in the
case of a financial (personal) loss. The insured receives a contract, called
the insurance policy, which details the conditions and circumstances under
which the insured will be financially compensated. There are diffrent kind of insurances such as life insurance, chlid insurance, auto insurance,fire insurance,home insurance,travel insurance,business insurance and so many other.
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