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Insurance aims to mitigate financial losses due to unexpected events whole life insurance vs term cost such as accidents, illnesses, or natural disasters. conventional vs insured mortgage It provides peace of mind by transferring the risk from an individual or entity to an insurance company. Car Insurance vs Bike Insurance An insurance policy is a contract between the insured (the person or entity buying insurance) and the insurer (the company providing the insurance).Condo Insurance vs Strata Insurance It outlines the terms, conditions, coverage limits, and exclusions of the insurance.