learn more about insurance

Tutorials1927 - In today's age, insurance has become commonplace and even required to have. However, not everyone understands insurance, Let us know further about insurance.

In terms of definition, insurance is coverage. Here there is an agreement made between the two parties, namely the insurer and the insured in a bond. Bonding here is for the insured must pay a premium. Premiums here is to pay a third loss of the insured losses in one day, either certain or uncertain loss.

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For the insurer it must provide a payment of money based insurance taken, such as life insurance (health or dies) or insurance (fire, cars, homes, valuables, and so on).

While the definition of insurance under the Commercial Law Section 9 of Article 246 which is an agreement between the insured and the insurer, to receive a premium to provide reimbursement to the insured for any loss, damage, or loss of expected profit or loss may be due to a particular event ,

Thus, we can conclude that insurance is:

1. An agreement

2. There is a requirement in an agreement, that is to pay a premium

3. Will the replacement be given to the insured by the insurer

4. There is a possibility that the event is uncertain or not can certainly happen

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While the cost of insurance premiums which is a prerequisite in the insurance agreement. Because without the premium will be no insurance (no premium no insurance).

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