INSURER:Insurer means a person who does the insurance that means who takes the responsibility of risk.
INSURED:Insured means a person whose insurance is done that means whose responsibility of risk is taken by the insurer.
PREMIUM:Premium means the fee which is charged by the insurer on the account of providing services .
POLICY:Policy means the document of a contract of insurance in which terms and conditions are related to contract of insurance.
SUM ASSURED:Sum assured means amount for which insurance policy is taken .
1 comments:
Wonderful post. You have explained the meaning of most important terms related to insurance. Thank you so much for posting this informative article.
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