Essential of Insurance

Insurance is a financial tool that provides protection against unexpected risks and losses. Understanding the essentials of insurance helps individuals and businesses stay secure and prepared.

🛡️ Essentials of Insurance

📄 1. Risk Protection

The main purpose of insurance is to protect against financial losses due to accidents, illness, theft, or damage.

💰 2. Premium

A fixed amount paid (monthly/yearly) to the insurance company to keep the policy active.

📜 3. Policy

A legal contract between the insured (person) and the insurer (company) that outlines terms, coverage, and conditions.