What distinguishes compensation from insurance according to Rahul Gandhi in the Agniveer row
Rahul Gandhi makes a statement on the distinction between compensation and insurance in the Agniveer controversy.
- Compensation refers to receiving payment or remuneration for a loss or injury suffered by an individual.
- Insurance, on the other hand, involves an agreement in which an individual pays a premium to an insurance company in exchange for financial protection against specified risks.
- Rahul Gandhi highlighted that compensation is a one-time assistance provided to compensate for a loss, whereas insurance offers continuous coverage over a specified period of time.
- Insurance provides a form of risk management that enables individuals to mitigate potential financial losses, while compensation is more about addressing immediate needs in the aftermath of an incident.
- Rahul Gandhi's distinction underscores the importance of understanding the different mechanisms through which individuals can seek financial support in times of need.
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10 months ago