An Easy Explanation of Insurance Terms like Underwriting

What do insurance terms like underwriting, premium, beneficiary, policyholder and life insured actually mean?

This video explains the key insurance terms.

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DISCLAIMER: This video contains general financial information only. That means the information does not take into account your objectives, financial situation, or needs. Because of that, you should consider if the information is appropriate to you and your needs, before acting on it. If you’re confused about what that means or what your needs are, you should always consult a licensed and trusted financial planner. Unfortunately, we cannot guarantee the accuracy of the information in this podcast, including any financial, taxation, and/or legal information. Remember, past performance is not a reliable indicator of future performance. The Rask Group is NOT a qualified tax accountant, financial (tax) adviser, or financial adviser.

[ColeB-jymh]

Luckily I know of a company that simplifies all this and educated its clients fully and it’s the number one financial institution in the world that everyone should be buying insurance with

[venkateshthevar]

Business practicess in USA are just beyond my understanding....
How is the concept of excess even justified. The whole purpose I take an insurance is to cover my risk and now I have to pay extra money to share the risk.