An INSURANCE is a legal agreement or a contract of reimbursement by which a company or the state undertakes to provide a guarantee of compensation for specified loss, damage, illness, or death in return for payment of a specified premium.
![What is Insurance](https://noteslearning.com/wp-content/uploads/2022/06/Screen-Shot-2022-06-10-at-22.37.24.png)
An INSURANCE is a legal agreement or a contract of reimbursement by which a company or the state undertakes to provide a guarantee of compensation for specified loss, damage, illness, or death in return for payment of a specified premium.