Insurance is a means of protection from financial loss. It is a form of risk management, primarily used to hedge against the risk of a contingent or uncertain loss. The amount of money charged by the insurer to the policyholder for the coverage set forth in the insurance policy is called the premium
Insurance Institute of Uganda
AAR MEDICAL INSURANCE
UAP Insurance
What is insurance and how it works?
An Insurance is a contract between an individual and the insurance company wherein an individual gets compensation against the losses from an insurance company. The insurance companies work by collecting small amounts of money from its clients and funds that money together to pay for damages
What are the advantages of insurance?
Explain any five advantages of insurance.Insurance provides economic protection to the insured. It provides financial protection to the insured against the unexpected losses in consideration of nominal amount called premium. It provides financial protection to the dependent in case of pre-matured death of insured
What is insurance and its benefits?
The obvious and most important benefit of insurance is the payment of losses. An insurance policy is a contract used to indemnify individuals and organizations for covered losses. The second benefit of insurance is managing cash flow uncertainty. Insurance provides payment for covered losses when they occur
Why insurance is required?
Insurance helps you: Own a home, because mortgage lenders need to know your home is protected.It covers your day-to-day costs and larger expenses like your mortgage while you focus on your health and recovery. Cover health care costs like prescription drugs, dental care, vision care and other health-related items.