INSURANCE

Defination :Insurance means be secured on time.It is the kind of security which a person get after some period of time if he Insured.

1. Insurance is the transferance of risk.
2. A system to protect persons against the risks of financial loss by transferring the risks to a large group who share the financial losses.
3. A contract that provides compensation for specific losses in exchange for a periodic payment.
4. Protection against future loss .
5. Promise of Reimbursement in the case of loss.