Something Interesting about Insurance Policy. I have always wondered how the Insurance works and I have written previously also many articles regarding the same. This is just to give you a better view of things.
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Let’s discuss some case studies here:
Suppose I give you a choice to make of the 2 available options:
- A bet in which you will surely loose 50 Rs. (100% chance of loss)
- A bet with 25% chance of Loss of 200 Rs, and 75% chance of Zero Loss
Which one will you choose? Think about it carefully, before making your choice and before reading further.
Some people select choice 1, other select choice 2. What have you selected? Continue reading