Understanding Insurance: Protecting Your Assets and Future

Insurance might seem like a dry topic, but it’s a vital part of protecting your financial future. You might be wondering, “What exactly is insurance?” In the simplest terms, insurance is a contract between you and an insurance company that provides financial protection against losses or damages. It’s a way to manage risk. When you purchase insurance, you get a policy, and in return for your premium payments, the insurance company agrees to pay for certain losses or damages.