Definition: The word 'insurance' can be defined as a policy or arrangement that provides financial protection to an individual or organization in the event of an unforeseeable event, such as loss or damage to property or assets.
Here are some examples of insurance policies:
Life insurance: An insurance policy that pays out cash or premiums upon death to the insured's family.
Property insurance: A policy that covers property damage caused by natural disasters, theft, or other unforeseen events.
Health insurance: A policy that provides financial protection for an individual or organization in case of illness or injury.
Automobile insurance: An insurance policy that covers damage to a car or other vehicle, as well as liability for damages from accidents.
In summary, the word 'insurance' refers to a financial protection arrangement that offers financial assistance during an unforeseeable event.
You've scored 50% OFF Factor 🤤
Forget the empty fridge stare-down. Factor delivers fresh meals to your door. Just heat & eat!
Click to sign up for FACTOR_ meals.