Insurance is a way to protect yourself against financial loss. You pay a premium to insure your life, health, car, homes or other assets. When there is a financial loss relating to them, the insurance company compensates you. It could be a fire at home, an accident that damages your car or death of a family member. These risks of yours are transferred to the insurance company through an insurance policy.
An insurance policy is a legal contract between two parties, namely the policy-holder and the insurance company. Insurance is available for various risks from your mobile to your health and life.
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