Insurance plays a vital role in financial planning and risk management. Key benefits include: How Insurance Works Insurance operates on the principle of risk pooling. Policyholders pay premiums into a collective fund, which the insurer uses to pay claims. Actuaries assess risks using statistical models to set premiums that reflect the likelihood and cost of … Read more
Insurance is a financial mechanism designed to provide protection against potential risks, losses, or uncertainties. By paying a premium, individuals or entities transfer the financial burden of specific risks to an insurer, who agrees to compensate them in the event of a covered loss. This article explores the concept of insurance, its types, benefits, and … Read more
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