Insurance Meaning In Simple Words | Immanenthub

Insurance meaning in simple words

What Is Insurance? Seems like you are here to know about Insurance meaning in simple words. An insurance policy is a legally binding contract between an insurance company and the person. The person who buys commonly called the “insured” or the policyholder. In exchange for payment of a specified sum of money, called the “premium”. … Read more

How do Insurance companies work? Types of insurances

insurance companies

Insurance companies working procedure The insurance companies work by collecting funds from it’s clients by selling policies to them and funds those money to cover the damages. In short, it is a PROMISE OF PROTECTION! It’s a legal contract between an insurer(company providing insurance) and the insured(the one who avails the benefits), in which the … Read more