Introduction to Insurance Policies, Classification of Insurance, Life Insurance Process

Insurance is a cover used for protecting oneself from the risk of a financial loss. It is important to understand that risk is a part of any person’s life and that it increases as a person increases in age, responsibility and wealth. Insurance is risk coverage against financial losses and should not be taken as an investment instrument.

There are mainly two parties involved in this – the insurer and the insured.

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Source: Chillibreeze