Insurance in its elementary form can be defined as “ A contract between two parties whereby one party called insurer undertakes an exchange for a fixed sum called premiums, to pay the other party called insured a fixed amount of money on the happening of a certain event." In simple terms it is a contract between the person who buys Insurance and an Insurance company who sold the Policy.

By entering into contract the Insurance Company agrees to pay the Policy holder or his family members a stipulated amount of money in case of any unfortunate event for a predetermined fixed sum payable which in normal term is called Insurance Premiums.
Insurance is basically a protection against any financial loss which can arise at the occurrence of an unexpected event. Insurance companies collect premiums to provide this protection. By paying a very small sum of money a person can safeguard himself and his family financially from any adverse event that may chance upon him.
Insurance Products available are such as Life Insurance ,
Vehicle Insurance
Home Insurance
Travel Insurance
Health or Mediclaim Insurance etc.

Major Insurance Companies In USA

State Farm Insurance - State Farm Insurance offers a full line of auto, home, life, health, and business insurance policies in the United States US.

J.G. Wentworth - Offers a lump sum of cash to individuals who hold assets in the form of structured settlements and annuities.

US Insurance Online - A service that gets consumers multiple insurance quotes online to compare rates and coverage.

AIA - Offers casualty insurance, including personal and commercial auto insurance & others.

Allstate - Offers insurance products including auto insurance, home insurance and insurance quotes.

American Insurance - Offers auto, homeowners, life, health, commercial and farm/ranch insurance, plus consumer loans and annuities.

Bank of America Insurance - Provides access to quotes for a variety of insurance products.

Blue Water - Provides Floridians with commercial insurance, franchisor packages and more.

Equitable & You - Offers senior life insurance, medicare supplement plan, and long term care plan options to Americans.

FS - An Oklahoma insurance company that specializes in coverage needs for your auto, home, life, and business.

HI Wire - Offers resources and news reports when choosing a health insurance policy in the United States.

Insurance Finder - Offers information and quotes on car, health, home and life insurance.

Insurance Journal - Offers property casualty insurance news in the United States. - An online auto insurance agency in the United States. - Offers instant auto insurance, health insurance, and life insurance quotes.