login-icon
mahindra-finance-logo
login-icon
  • English
  • Hindi
  • Bengali
  • Marathi
  • Telugu
  • Tamil
  • Gujarati
  • Kannada
  • Odia
  • Malayalam
  • Punjabi
phone

Download App

Conveniently pay your EMIs, set payment reminders, view your loan details.

phone
|

1. What is Insurance?

mahindra-finance-author

by Mahindra Finance

|

January 6, 2025

|

1 mins read

Insurance is a legal agreement between two parties i.e. the insurance company (insurer) and the individual (insured). In this, the insurance company promises to make good the losses of the insured on happening of the insured contingency. The contingency is the uncertain event which causes a loss. The insured pays a premium in return for the promise made by the insurer.

Related articles

How to Apply for a Tractor Loan

Financial institutions provide loans to farmers to purchase new or used tractors. The tractor may be used either for agriculture or for commercial purposes. Such loans have several beneficial features...

KNOW MORE

June 29, 2023

Used Car Loan Advice For Working Professionals Under 25

Buying your first car is an exciting milestone in any young professional’s life. While a brand-new car may be tempting, opting for a second-hand vehicle can be a more affordable and practical ch...

KNOW MORE

April 18, 2024

NRI-Home-loan-and-Indian-residents home-loan-What-the-difference

NRI Home Loan And Indian Residents Home Loan: What’s The Difference

Purchasing a home is a significant milestone in anyone’s life, regardless of their location. Whether you are currently residing in India or planning to return one day, owning a home holds immens...

KNOW MORE

July 5, 2024