to provide economic protection against losses that may be incurred due to chance of unfortunate events.

a contract between an insurer and a policyholder in which the insurer guarantees payment of a death benefit to named beneficiaries upon the death of the insured.

types of coverage that help protect you and the property you own.

helps coverstuff you own like your home or your car.

means that the policy includes liability coverage to help protect you if you're found legally responsible for an accident that causes injuries to another person or damage to another person's belongings.

policy offers to cover its holder against the cost of compensation due to malpractice, injury, or negligence.

a type of insurance product that provides income in the event that a policyholder is prevented from working and earning an income due to a disability.

coverage that provides nursing-home care, home-health care, and personal adult daycare for individuals age 65 or older or with a chronic or disabling condition that needs constant supervision.

policies provide for fixed guaranteed periodic payments over a long period of time instead of a lump sum

have a major investment component.

the risk insured by this product is the credit risk that the issuer of an insured bond or other financial contract will fail to make timely payment of interest and principal

provides death benefit that pays the policyholder's beneficiaries over a predetermined time period.

offers protection for the entire insured person's life.

contains a cash value component that increases in accordance with market interest rates and lets you modify your premiums (within certain restrictions).

premiums are fixed and death berefits are guaranteed, regardless of now to market fare

company bought insurance

contract between a company and investor (pension fund)

policy holders pays a single premium for the policy

owned by its policy holder - become contractual creditors with voting rights

corporation owned insurance

process where a mutual insurance company is convented into stock insurance company.

companies also avail services from other the insurance company to lessen their Risk exposure