What is the key difference between compensation and insurance according to Rahul Gandhi
Rahul Gandhi highlights the distinction between compensation and insurance in light of the Agniveer row.
Rahul Gandhi emphasizes the difference between compensation and insurance in the context of the Agniveer row as follows:
- Compensation is provided as a remedy or settlement for damages or loss suffered by an individual due to a specific incident.
- Insurance, on the other hand, is a financial arrangement where an individual or organization pays premiums to an insurer in exchange for coverage against potential risks or losses.
- Compensation is usually offered after an event has occurred, whereas insurance provides protection in advance in case of future incidents.
- Compensation is a one-time payment, while insurance offers ongoing coverage for a specified period.
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10 months ago