What is meant by "Insurance"?

Insurance is a form of risk control, by transferring / transfer risk from the first party to the other party, in this case is to the insurance company that you use when you enroll in the insurance program. Delegation is based on the legal rules and principles that apply universally, adopted by the first party and the other parties involved in the Vendor insurance companies and your partner as insurance applicants.

"Insurance is a contract by which a person binds himself to an insured, to receive a premium, for reimbursement to him for any damage or loss of expected benefits that may be experienced as an event that is not necessarily".

So the bottom line is insurance that is intended in an effort to prevent (long-term) as the savings we anticipate unexpected events in parentheses accident, disaster, urgent funding needs, up to the cost of treatment

* Depending on the type of insurance products are taken

Credit Image :http://www.promptpayer.co.uk

Why do we need insurance?

The main benefit of the insurance has insured financial position (Customers) back to the time before there is a loss. But other than that, insurance can also reduce the risk of uncertainty, can reduce the financial burden caused by the losses came suddenly, giving the feeling of security, and many other benefits.

okay with this you of course have started to understand about the existence of insurance mean and why we need insurance