Insurance Terminology and Concepts

The video tutorial explains the fundamental concepts of insurance, including the nature of insurance as a contract, the roles of the insurer and insured, and the legal framework governing insurance policies. It covers financial obligations like premiums, deductibles, co-pays, and coinsurance. The structure of insurance policies, including declarations and endorsements, is discussed, along with the process of making claims and the concept of subrogation. The video also addresses how policies are interpreted and the conditions under which they can be terminated.

What new insight or understanding did you gain from this video?