As an investor, it is not enough to just pay the stipulated fee; it is very well necessary to engage the services of insurance advisors in order to understand the terms and conditions of a policy and to enjoy its full benefits (like, trauma insurance advisors are helping to reduce the cost in treatment of some serious medical conditions like heart attacks, strokes, cancers, etc., while helping to determine the right trauma policy).
Insurance is the equitable transfer of the risk of a loss, from one entity to another in exchange for payment. It is a form of risk management primarily used to hedgeagainst the risk of a contingent, uncertain loss. An insurer, or insurance carrier, is selling the insurance; the insured, or policyholder, is the person or entity buying the insurance policy. The amount of money to be charged for a certain amount of insurance coverage is called the premium. Risk management, the practice of appraisingand controlling risk, has evolved as a discrete field of study and practice.