Article on Insurance

 Article on Insurance

     An insurance is a policy of transferring the risk of goods or human life to the insurance company. It is the legal aggrement between insured person (those who take insurance) and insurer (insurance carrier or company ) in order to transfer the risk of uncertain loss caused by natural calamities like earthquake, accident, war etc or loss caused by protest. There is a contract between insured person and insurer company which is generally known as insurance policy which consists of detail conditions on which insured can get financially compensated. Depending upon the insurer company, customer can get various policy or plan like Executive Bonus Plan. customer can select among the various insurance policy. Insurance company may have certain conditions where insured person cannot get compensated. They may also define certain limit on compensation. It may differs from one insurance company to another company.



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