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What do u mean by insurance?

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in Insurance by (82.5k points)
What do u mean by insurance?

The query is from Insurance subject

The question was posed to me in a job interview.

Other related questions to my question are:-

What is insurance and what are the types of insurance?

What is insurance class 11?

What is insurance and why is it important?

1 Answer

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Correct answer is: 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 is Insurance Definition

My answer's reference is Investopedia

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