A note from Sary

Form of Value #11: Insurance Insurance involves the transfer of risk from the purchaser to the seller. In exchange for taking on the risk of some specific bad thing happening to the policyholder, the policyholder agrees to give the insurer a predefined series of payments. If the bad thing happens, the insurer is responsible for footing the bill. If it doesn't, the insurer gets to keep the money.

Sary The Personal MBA, page 61 · October 7, 2023 Save to shelf
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