Question by sandeep r: definition of insurance?
I want to know of the definition of insurance
Best answer:
Answer by SirWilliam
…I know where you are going with this… and it’s a nightmare.
Life Insurance is actually “death” insurance… think about it… It’s doesn’t pay till you’re DEAD… tell that to your Met “Life” agent…
The word “Insure” is to make sure…to be certain… (what a joke)… Automobile “insurance”… it doesn’t insure that you’ll be safe… it only pays “after the fact” (of the crash) and only if “they” have determined that you were “covered”…
Corporate America is “tossing the dice” with your life…and you get to “pay” for their time at the “tables”….
The list goes “on and on”… I’m sure you get the picture…
What do you think? Answer below!
{ 2 comments… read them below or add one }
It is a form of risk management primarily used to hedge against the risk of a contingent loss.
Insurance is defined as the equitable transfer of the risk of a loss, from one entity to another, in exchange for a premium.
Short definition of Insurance is “insurance is a transfer of risk”