what is insurance
Insurance is a financial protection plan that helps mitigate potential risks and uncertainties. It’s a contract between an individual (policyholder) and an insurance company, where the policyholder pays a premium (amount of money) in exchange for financial coverage or reimbursement in case of unexpected events, such as:
- Accidents
- Illnesses
- Natural disasters
- Theft
- Death
Insurance provides financial security and peace of mind, helping you recover from unexpected losses or expenses. Common types of insurance include:
- Life insurance
- Health insurance
- Auto insurance
- Home insurance
- Travel insurance
Let me know if you have a specific question about insurance or if there’s a particular type of insurance you’d like to learn more about!