Insurance is a contract between you and an insurance company, where you pay premiums to the company in exchange for financial protection in case of a loss. There are many different types of insurance, including:
Health insurance: This type of insurance helps to pay for your medical expenses, such as doctor's visits, hospital stays, and prescription drugs.
Life insurance: This type of insurance pays a death benefit to your beneficiaries if you die.
Property insurance: This type of insurance protects your home, car, and other belongings from damage or loss.
Liability insurance: This type of insurance protects you from lawsuits if you are found liable for causing harm to someone else.