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What is insurance and types of insurance?

Asked By: Rudra De

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6 Answer(s) Available

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Insurance is a legal agreement between two parties i.e. the insurance company (insurer) and the individual (insured). In this, the insurance company promises to make good the losses of the insured on happening of the insured contingency. The contingency is the event which causes a loss. Life Insurance · Health Insurance · General Insurance · LIC Online Payment


Worked at Tata Steel Instrumentation Long Beach United States

Overall, general insurance comprises different types of insurance policies that offer financial protection against losses incurred due to liabilities such as bike, car, home, health, and similar. These various types of General Insurance Policies include: Health Insurance. Motor Insurance. Home Insurance. Rating:


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1. Life Insurance. Life Insurance refers to a policy or cover whereby the policyholder can ensure financial freedom for his/her family


Studied at Lloyd Law College Intranet Teaching Tucson United States

Insurance is a contract (policy) in which an insurer indemnifies another against losses from specific


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How Does Insurance Work? As defined above, an insurance policy is a legal contract that binds both policyholder and the insurance company towards each other. Rating:


Civil Engineering, Dr. B. R. Ambedkar National Institute of Technology, Jalandhar Information Security Louisville United States

Must-have insurance products · Life insurance: · Health insurance: · Motor insurance: · Accident and disability insurance: · Home insurance: · Standalone critical


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