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__________ is an agreement between insurer and insured to compensate the loss incurred in case of any calamity or misfortune.
None of these
Correct Option is Insurance
Solution:Insurance is an agreement between insurer and insured to compensate the loss incurred in case of any calamity or misfortune. For this, the insured pays a premium amount on a regular basis to the insurer for taking over any risk associated for which the contract was formed.
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