Podcast

Insurance is a legal agreement. Insurance is an agreement that transfers the risk of financial loss from an individual or business to ensure in return the insurer agrees to cover the individual or business for certain losses if they occur. Risk is an uncertainty about whether a loss will occur. If a loss is certain to occur it does not involve risk. insurance is designed to cover only losses that involve risk regarding life insurance. Although death is certain to occur to everyone the timing of that loss is uncertain.