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24 August, 04:14

Assessment Questions

In What is Insurance

b Explain the following term in

Insure

premium

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Answers (1)
  1. 24 August, 06:13
    0
    insurance is an arrangement 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.

    premium an agreed payment for insurance

    insure to protect something against unforseen risks like fire death etc.
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