Jargons Of Insurance Industry
Insurance is a contract between twoparties whereby one party agrees toundertake the risk of another inexchange for consideration known aspremium and promises to pay a fixedsum of money to the other party onhappening of an uncertain event(death) or after the expiry of acertain period in case of life insuranceor to indemnify the other party onhappening of an uncertain event incase of general insurance.
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