INSURANCE

Introduction Insurance is a form of management used to offer a financial payment when unplanned or unexpected losses occur. It is a transfer of the risk of a financial loss from one entity (that is exposed to risks) to another (the insurer) in exchange for payment of a premium. Someone who wants protection against financial hardship should consider insurance. Protections offered by insurance Insurance may include • Protecting family after one's death from loss of income • Ensuring debt repayment after death • Protecting against the death of a key employee or person in a business • Buying out a partner or co-shareholder after his or her death • ...