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InterviewSolution
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What is insurance and its advantages |
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Answer» protection from FINANCIAL lossInsurance is a means of protection from financial loss. It is a form of RISK management, PRIMARILY used to hedge against the risk of a contingent or uncertain loss. ... The amount of money charged by the insurer to the policyholder for the coverage set forth in the insurance policy is called the PREMIUM.Explanation:ADVANTAGES OF INSURANCE Advantages of Insurance. Insurance provides economic and finanicial protection to the INSURED against the unexpected losses in consideration of nominal amount called premium. It provides financial protection to the nominee in case of the pre-matured death of insured. |
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