2. Answer the following questions in one sentence each :
(1) What is insurance ?
(2) What is insurance policy ?
(3) What is life insurance ?
(4) Give the meaning of general insurance.
(5) State the fastest mode of transportation.
(6) Give the meaning of warehouse.
(7) What is multiple unit train ?
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Answer:
1)
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
2)
An insurance policy/plan is an contact between an individual (Policyholder) and an insurance company (Provider). ... Based on the insurance terms, the insurer provides a lump sum amount to the policyholder/nominee in case of an eventuality.
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