What is Insurance? How Does it Work? Money Instructor

An introduction to the basics of insurance, including the meaning, definition, and explanation of insurance. It covers important topics such as types of insurance, controlling risk, contract costs and benefits, premiums and deductibles, and how an insurance policy works.

Learn and understand the basics of what is insurance, how does it work, and is it important? Do you need it, controlling risk, contract costs and benefits, premiums and deductibles, common types of insurance, health, auto, life, homeowners, renters, and how an insurance policy works. Meaning, definition, and explanation of insurance.

Learn about the basics of insurance, its definition, how it works, and its importance. The video discusses the benefits of having insurance, controlling risks, costs and benefits, premiums and deductibles, and the most common types of insurance policies including health, auto, life, homeowners, and renters. The insurance policy is a contract between the policyholder and the insurer that provides financial protection against unforeseeable tragedies by pooling risks. The video also covers how insurance policies work, including policy term, premiums, deductibles, and what is covered. Having the right insurance policy can make a huge difference in your life and keep your life on track in the event of an accident. Insurance 101.

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Money Instructor is the leading source for financial education and skills development. For over two decades, we have been assisting educators, students, parents, and others in teaching and learning about money skills, personal finance, money management, investing, business, and career development. We provide resources and tools to help teachers, parents, and institutions teach these crucial skills to young people. By doing so, we also aim to reinforce basic math, reading, vocabulary, and other fundamental skills that are essential for success in life.
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Money Instructor does not provide tax, legal, financial, or accounting advice. This material has been prepared for educational and informational purposes only, and is not intended to provide, and should not be relied on for, tax, legal or accounting advice. You should consult your own tax, legal and accounting advisors regarding your own situation. Although the information has been researched and vetted beforehand, it may not be current at the time of viewing.