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What type of contract is insurance contract?

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What type of contract is insurance contract?

My question is from Insurance topic

I got this question during an internship interview.

Other related questions to my question are:-

What type of contract is insurance contract?

What is the insurance contract called?

Is insurance a unilateral contract?

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The correct answer is: Insurance contracts are aleatory contracts because the amount exchanged by the parties is unequal and depend upon future uncertain events. Insurance agreements are also considered unilateral contracts because only the insurance company is making a legally enforceable promise.

The title of my answer can be Insurance Agreements: Definition & How To Understand (2022)

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