Insurance: A simple solution for some of life's biggest problems

Insurance: A simple solution for some of life's biggest problems For the most part, life can be a pleasant journey. But sometimes, sudden misfortunes may strike when we least expect them to. Road accidents. Fire accidents. Damage to property. Theft and loss of goods. And even loss of life. For all of these problems, there’s often one thing that can help you. Insurance. So, what is insurance? Well, simply put, it is a legal contract between an insurance company and the insured person. The insurance company provides financial protection or reimbursement against losses to the insured party. Insurance can be either life insurance or general insurance. Curious to know more about these two categories of insurance? That’s just what we’ll discuss in the upcoming chapters of Smart Money.