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Monday, December 10, 2018

Insurance Car Insurance Life Insurance Health Insurance House Insurance Review

What is insurance in America and how does it work?

Insurance is a contract that moves the risk of financial loss from an individual or business to an insurance company. The company receives money from its clients and puts that money together to pay for injuries or losses that may occur with companies that participate on join the program.

What are the 6 types of insurance that are in the United States? The six types of basic insurance are property, professional liability, workers compensation, product liability, vehicle, business interruption, and homebased business insurance.

Who is an insurer?  An insurer is a company or individual that is in a agreement in the form of a contract and decides to compensate for liability, losses, or damages that may occur to another company or individual. The person who has the title of insurer is normally the insurance company or is also called the underwriter. 

How much money do you need to start an insurance company? You normally need about $5,000 to $50,000 dollars.


How long does it take to become an insurance agent? 

The length of time it may take to become an insurance agent can vary based on the individual. Some people can take  two or four years to earn a college degree which can improve  one's job prospects, in many situations. A person can become an insurance agent after completing only a pre-licensing course, which can take several days.

Indeminity is protection or security that is against any financial burden or loss that may occur, by the policy holder or person insured.


Policy is the document provided by insurance companies that details conditions and terms of the contract of insurance, that the person who has insurance signed.

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