We get insurance to protect our financial well-being if something happens to us unexpectedly. In this unit you will learn about the concepts of “risk ” and “loss ” and what you can do to protect yourself and others from those big surprises life sometimes hands us. Understanding insurance is an important part of your financial plan. When we get insurance, a specific risk or the likelihood something bad will happen among a large number of people. Insurance can generally be defined as a promise of reimbursement
for specific possible future loss in exchange for payments to an insurance company.
Insurance in Plain English
We know that understanding insurance can seem challenging at first, so before you get started with the insurance course, check out this short video about insurance and the role it plays in recovering when bad things happen.
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