I'm covering this topic base on informational purposes only.Especially for those whom may not have known it.

Insureance as define in the dictionary is basically the act or business of insuring.It can also be said to be money

paid to insure someone or something.Again, it's a safeguard.In terms of protection and loss insureance is an

arrangement by a company gives customers financial protection against loss or harm such as theft or illness in

return for payment premium.In a nut shell what insurance companies does is taking responsiblities or bearing risk of

for their customers.whichever area or sector they are insure,they just bear the risk.However,this risk covered by

insureance companies,are as a result of exchange of money paid by their customers.Hence,when next you will think of

buying an insurance policy,you should be ready to cough out some cash for it.

In insurance like many other discipline,there are terminologies used in qualifying the different issues or stuffs.Some example of this terms are Actual cash value,All risk insurance,Anuity,Beneficiary,Binder,Casualty insurance,Covearge,Dividend,Endowment insurance,Guaranteed insurance,Insurer,Liabilty,Mutual Payment coverage,Policy holder,just to mention a few.The list of terminologies used in insurance is vast and can not be covered here.This is a discipline where one need to be acquainted with terms used when dealing with any type of insurance policy.It's best you ask your insurance company to interprete whatever you don't seem to understand.Next,you will learn what just few of this terms are.

Actual cash value:This is the traditional measure of property insureance loss.Usually defined as the cost of replacing the destroyed property,minus an allowance for depreciation.

Beneficiary is the person who receives the proceeds of a life insurance policy upon the death of insured person.

Finally,Dividend is a partial return of premium,reflecting the difference between the premium charged and the amount needed to cover the company's operations and payment claims.Note premium is the price of an insurance policy.

Now that you have read a little about insurance,you can boldly go out and seek or buy a policy that will befit your desire.Remember to always ask to be explain what terms you don't understand.