When you purchase insurance, you pay a small amount regularly (known as a premium) so that you will have financial assistance in an emergency. In return for your premium, the insurance company provides coverage that can help pay for specific types of losses or damages, depending on the terms of the policy. This can include health care costs, property damage, liability, or other financial losses, depending on the type of insurance you choose.
What happens when you purchase insurance?
You pay money to a professional for financial guidance.
You save money in case of an emergency.
You give a loan to the government or a company.
You pay a small amount regularly so that you will have financial assistance in an emergency.
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