Chapter 35: Insurance Protection
Insurance is a contract under which, for consideration, the insurer or the insurance company agrees to compensate you for a specific loss. Life insurance provides monetary compensation for losses suffered as a result of someone’s death. Although health insurance plans vary greatly, they usually offer basic coverage for hospital and doctor bills. Property insurance is a contract in which the insurer promises to pay you a sum of money if a particular piece of real or personal property is damaged or destroyed. As you study this chapter, you will learn how insurance works and how it will protect you and your property as you move through life.
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