Insurance term – Security of Future against unexpected loss

Insurance term can be defined as a form of risk management mainly used to protection against unexpected future loss. In simple Insurance can be defined as the covered against unforeseen loss. It is a written contract or certificate of insurance in which insurance company promise to reimburse in the case of loss.

Insurance - Security of future
Insurance

In broad term Insurance is a promise of compensation for specific potential future losses in exchange for a periodic payment. Insurance can be used as long term financial investment which can give a person high returns in later years.

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