Editing Language/Multiple-languages/Culture/Basics-of-Economy
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The one who operates the insurance is called an “insurer”, the one who buys the insurance is called a “policyholder”, the one who is covered in the insurance is called an “insured”, the one who is to be paid when the risk comes true is called a “beneficiary”. | The one who operates the insurance is called an “insurer”, the one who buys the insurance is called a “policyholder”, the one who is covered in the insurance is called an “insured”, the one who is to be paid when the risk comes true is called a “beneficiary”. | ||
The insurer gather payments | The insurer gather payments from policyholders and invest with those payments. | ||
There are commercial insurances and social insurances. The commercial ones are run by business entities, while the social ones are run by the government and are compulsory, which are meant to maintain the stability of the society. | There are commercial insurances and social insurances. The commercial ones are run by business entities, while the social ones are run by the government and are compulsory, which are meant to maintain the stability of the society. |