Insurance is a legal agreement between two parties i.e. the insurance company (insurer) and the individual (insured). Under this, the insurance provider agrees to make good on the occurrence of the insured contingency, the risks of the insured. The incident triggering a failure is the contingency. That may be the death of the policyholder or property damage/destruction. It is considered a contingency since the occurrence of the incident is unknown. In exchange for the guarantee made by the insurer, the insured pays a fee. You can purchase an insurance package offline and online, whether it’s life insurance, dental insurance or general insurance. Much like there are insurance brokers who can help you buy a policy, there are also pages on which you can purchase a policy. Ensure that before choosing and engaging in an insurance scheme, you have done your homework.