Insurance can be defined as an equitable transfer of a threat or risk of any loss from one particular entity to another entity in return of the payment of a definite sum of money for a particular period of time. It can well be described as a certain form or variety of risk management that can be used to equivocate against the risk or hazards that are associated with any contingent or any uncertain or unforeseen loss.

A typical insurer, or an insurance carrier, can be a company who sale insurance packages as product or service to the insured, or the policyholder. Now a policy holder can be defined as the individual who purchases the insurance policy. The price that the policy holder has to pay for a certain degree of insurance coverage for a particular time period is termed as insurance premium.

During these types of transactions generally the insured person or party assumes a guaranteed & comparatively smaller amount of loss as payment to insurer in return of a promise from the insurer. The insurer has to promise that the insurer will compensate or indemnify the insured in case there is any financial or personal loss to the insured. The insured in that case will receive a contract that is termed as insurance policy. The policy will contain all the details of the circumstances and terms & conditions that will make the insured entitled for any financial compensation.

There are various kinds of insurances that are designed to protect various things of interest, properties and aspects of human life. You will be able to find life insurance, automobile insurance, jewelry insurance, health insurance, travel insurance, motorcycle insurance, and so on. If you are a businessman, you will need to have your entire business insured to guarantee that in case of any eventuality you are not absolutely thrown out of gear.

Again, when it comes to health related insurance, dental insurance is the most promising type of insurance that is growing extremely fast and are getting immensely popular amongst people these days.

Financial stability & strength should be the corner stone of business every insurance company and when it comes to purchasing any policy these should be considered before anything else. Insurance premium that is paid periodically provides the required coverage for any losses that may be incurred in due of time. That is why, viability of any insurance provider is extremely important.

A majority of insurance companies market and sale their policies through agents. These agents are employed by the insurance companies for marketing and selling the policies of that company. However independent agents are there who sale policies designed by several companies.