Insurance is a term used to refer to the act, system, or where the financial protection business (or financial compensation) to people, property, health and so forth to get reimbursement from the events that can not be expected to occur such as death, loss, damage or illness, which involves the payment of premiums on a regular basis within a specified period in exchange for a policy that ensures protection.
Insurance in terms of law and economics is a form of risk management primarily used to hedge against the risk of a contingent loss. Narrowly, insurance is a system for financial loss by channeling lower risk of losing the person or entity to another.
There are many kinds of insurance products that are offered by insurance company, such as auto insurance, life insurance, car free insurance, health insurance, educational insurance, etc. Beside that, there are many kinds of insurance company that can be selected by people, depend on the need and want the people, such as, the general insurance company, the health insurance company, auto insurance company, etc. All of them commonly offer their best services and product for their customers.
