Insurance is a contractor a deed between the insurer company and the insured person or his/ belongings it processed against receipt of certain amount known as premium the insurer company or party agrees to cover any financial loss that may be suffered by the insured due to the operation of an insured peril or condition on the subject matter of insurance which is written in the deed.
As we know no one has ever had control over destiny and it creates an uncertainty in our lives so to make things financially secure or to become financially established when that tough time comes we go for the insurance. Insurance give the peace of mind and a financial cover that under any condition our future or time will be secured by the insurance company. Insurance can be opted one’s life, car, home etc.
Insurance terms and plans are made strictly as per the risk involved for any insured person in any scenario for different demographical group. Then insurance company fixes a premium and break the whole insurance amount in recurring period as per monthly or quarterly period, which the insured person will provide to the company.
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