What is short term insurance? Short Term Insurance, is basically the protection against loss. It is a form of risk management. The risk is hedged against an uncertain loss.
A premium is asked by the insurer for taking on the risk. The amount of the premium on your short term insurance depends on the risk. The risk is determined, and a premium is worked out.
The insured receives an insurance policy. This policy details the terms and conditions of the agreement.
In case of an loss, or unexpected event, the insurer compensates the client.
You get different types of insurance:
Short term insurance
Long term insurance
Key person insurance
and many more types.
To find out more about Short Term Insurance contact Riskfin today!