Insurance Services
(Chapter Notes)
Q: Define Insurance.
Answer: Life is full of uncertainties and risks. Insurance is a means of providing against loss caused by natural or man-made factors. It is a contract or agreement under which one party agrees in return for a consideration (called premium which maybe monthly , quarterly, half yearly or annually) to pay in agreed amount of money to another party to make good a loss, damage, or injury to something of value.
Q: What are the functions of Insurance?






