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*Insurance (Principles of Insurance (Indemnity You can't make a profit…

- - - - Only Covers damage to other persons car
    - - It pays compensation to the third parties losses and the insured.
  - - - The insured pays a premium for the rest of their lives and the money given is used as compensation to the family in the case of death.
    - - When a person reaches a certain age then they are paid compensation