INSURANCE

Insurance is a legal agreement between two parties – the insurer and the insured, also known as insurance coverage or insurance policy. Insurance is a way to manage your risk. When you buy insurance, you purchase protection against unexpected financial losses. The Insurance policy covers the monetary risks of an individual due to unpredictable contingencies. The policyholder pays a certain amount called ‘premium’ to the insurance company against which the latter provides insurance cover. 

Benefits of Insurance Coverage:

• Provides Protection
• Provides Certainty
• Risk Sharing
• Value of Risk