Alan Kaye Understanding the basics of insuranceAlan Kaye Understanding the basics of insurance

Alan Kaye — At its core, the concept of insurance is very basic. When you have something to lose, and you can’t afford to pay for a loss yourself, you pay for insurance.

By paying money every month for it, you receive the peace of mind that if something goes wrong, the insurance company will pay for the things you need to make life like it was before your loss.

Alan Kaye Insurance specialist — Learning how insurance works takes some effort, but it’s vital to know the basic concepts of coverage to get what you need.

Being aware of what’s available and how it works can have a major impact on the price you will pay to be covered. Armed with this knowledge, you’ll be able to choose the right policies that will protect your lifestyle, assets, and property.

Insurance is a legal agreement between an individual and the insurance company, under which, the insurer promises to provide financial coverage (Sum assured) against contingencies for an amount (premium).