Thread: Insurance
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Old 01-30-2014, 12:05 AM
mira mira is offline
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Join Date: Jan 2014
Posts: 18
Default Insurance

Insurance is a policy in which insurer compensates loss caused by unforeseen events in the future in exchange of premiums paid by the policyholder. It is a way of diversifying risk. There are two types of policies: life insurance and non-life insurance.
Life insurance policies are of two types: whole life insurance, term life insurance (also called endowment life insurance). It is better to get term life insurance than whole life insurance. Many companies claim to offer cheap term life insurance, however we can determine which fits our needs by comparing them only.

Non-life insurance policies are of various types. They are marine insurance policy, automobile insurance policy, real estate insurance policy, etc.
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