Insurance Meaning And Types / People who buy insurance pay a premium (often paid every month) and promise to be careful (a duty of care).
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Funds with the insurance companies are invested in various types of securities and projects, which contribute to economic development of the country. There are many types of insurance. The insurance that covers the danger of the life of the insured is called life insurance. Friends, it is known by its name that this type of insurance is the insurance of the life of an insured person. It is a form of risk management, primarily used to hedge against the risk of a contingent or uncertain loss.
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Meaning and coverage life insurance covers your life and also has provisions to provide a savings and investment avenue.
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In broad terms, insurance can be divided into many forms, main categories of insurance are listed below.
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