- Question No. 13
- What is the financial agreement where payments are made to an insurance company for protection in specified events?
Short Info for Help
Insurance is a crucial financial arrangement in which individuals or entities make regular payments, called premiums, to an insurance company. In return, they receive protection and compensation in the event of specified incidents, such as accidents, health issues, or damage to property. Insurance serves as a safety net and provides financial security in times of need.