Insurance is a binding contract a person gets with a company in order to guarantee financial assistance in case of an emergency. What happens is the person pays a specified premium for a prescribed number of years, until it is completely covered. That payment will equate to a financial coverage that is substantially larger than the total amount of premiums you pay. It can be accessed any time, even if the obligation has not been completed. There are several types of insurance policies retailed today, from life to health to car and property insurance.
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