Insurance is a subject matter of solicition. Please refer offer documnets for details. The Insurer (i.e. insurance company) and Insured (i.e. an individual) enter into a legal contract with each other. On account of this contract, the insured individual pays a premium to the Insurance Company. In return the Insurance Company assures the insured individual to compensate against the unforeseen losses or hazards mentioned in the contract. Such unforeseen losses occur on account of ever-pervading risks prevalent in every nook and corner of our human lives.