what is insurance? what is insurance?
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Answered by
39
Insurance is a term in law and economics. It is something people buy to protect themselves from losing money. In exchange for this, if something bad happens to the person or thing that is insured, the company that sold the insurance will pay money back.
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11
Explanation:
The concept of insurance is very simple to understand. You pay a monthly or yearly fee to the insurance company to insure your life, health, vehicle, property, etc for a certain period. In return, the insurer pays for the financial damages in case of any harm to the insured person or object.
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