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What do you meant by insurance?

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in Insurance by (82.5k points)
What do you meant by insurance?

I'd like to ask this question from Insurance

This question was addressed to me in class test.

Other related questions to my question are:

What is insurance class 11?

What is insurance and what are the types of insurance?

What is insurance and why it is important?

What are the 3 main types of insurance?

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The correct answer by me is: What Is Insurance? Insurance is a contract, represented by a policy, in which an individual or entity receives financial protection or reimbursement against losses from an insurance company. The company pools clients' risks to make payments more affordable for the insured.

The title of my answer can be Insurance Definition

My answer's reference is Investopedia

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