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All about insurances
9:13 AM
Tuesday, August 9, 2011
First of all, what is insurance?

According to my research, insurance is defined as the equitable transfer of the risk of loss, from the entity to another, in exchange for payment. (wikipedia) The one who is sellingthe insurance is called the insurer while the one who is buying the insurance is called insured.

It is like, the insured person is paying the insurer a certain amount of money for a period of time and when the insured person meets the requirements, he will be able to get all the benefits from the insurer.

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