Insurance is a protection plan for the person who chooses the product according to their requirements. If something bad happens to you, the insurance company pays you or someone you choose. If you don't have taken any insurance plan and an accident occurs, then you will be responsible for all related costs. An insurance policy saves you from the risk. Take An example of an auto insurance policy you are paying your premium always on time so, that pays for your car in a car accident when your car crashes. This is an example of insurance that saves you from extra expenses when you lose your job and are out of work.
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