Question

What is meant by insurance​

Answer 1

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an arrangement with a company in which you pay them regular amounts of money and they agree to pay the costs if, for example, you die or are ill, or if you lose or damage something

Answer 2

Answer:

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how are you?

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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 the money back.

Explanation:

Broadly, there are 8 types of insurance, namely:

Life Insurance.

Motor insurance.

Health insurance.

Travel insurance.

Property insurance.

Mobile insurance.

Cycle insurance.

Bite-size insurance.