LeoGlossary: Insurance
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A contract to guard against loss or damage by taking out a policy with a company that agrees to a pay a specific sum if the loss or damage occurs. In exchange, the policy holder makes regular payments called premiums.
This is a hedge against financial loss.
The most common forms are:
- Auto
- Home
- Life
- Dental
- Business
- Long-Term Care
Some are required by law such as automobile while others optional.
General:
Posted Using LeoFinance Beta