INSURANCE IS VERY GOOD THING FOR ALL

INSURANCE IS VERY GOOD THING FOR ALL

We first Learn About Insurance may be described

as a social device to reduce or eliminate risk of life

and family.it is one of the security for our life and

our family. Under the plan of insurance, a large

number of people associate themselves by sharing risk,

attached to individual.

The risk, which can be insured against include fire,

the peril of sea, death, incident, & burglary. Any risk

contingent upon these may be insured against at a

premium commensurate with the risk involved.

It gives to our life some gifts when we are in risk

Insurance is actually a contract between 2 parties

where by one party called insurer undertakes in

exchange for a fixed sum called premium to pay

the other party happening of a certain event.

So it is very use for every life

Insurance is a contract where by, in return

for the payment of premium by the insured,

the insurers pay the financial losses suffered by

the insured as a result of the occurrence of

unforeseen events.

With the help of Insurance, large number

of people exposed to a similar risk make

contributions to a common fund out of which the

losses suffered by the unfortunate few, due to

accidental events, are made good.