At the heart of it, life insurance is a sophisticated form of risk transfer. A life insurance policy is a legal contract between an insurance company and a policy holder (“the insured”) that calls for the payment of a lump-sum to the designated beneficiaries of the insured in the event of his or her death.… Continue reading The Keys To Understanding Life Insurance
Have you ever wondered how insurance companies work? People pay in a plan and have their family covered. But, what really happens when, for example, all members of the family get sick and need financial help? How does this stuff work and what do these insurance companies get out of it? Why do People Avail… Continue reading How Do Insurance Companies Generate Income?