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Video - Money: Know It to Grow It - Insurance

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    Transcript:

    What is insurance?

    It's a form of wealth protection.

    As we get older, we usually acquire things of value.

    But if something happens like a car accident…

    …or a key income earner passes away…

    …most of us might find it financially difficult to replace what we've lost.

    That's where insurance comes in.

    It's an agreement we make with an insurance company.

    By agreeing to pay a small regular fee to a provider, called a premium.

    The insurance company agrees to pay a much larger amount if something happens to what we've insured.

    Like a car, a house, even a family member's income…

    So one unexpected loss…

    …doesn't cause us to lose even more of what we value.

    And that's insurance! Find more ways to know and grow your money at synchronybank.com.

    READ MORE: Video - Money: Know It to Grow It - Emergency Fund

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    Synchrony Staff

    This article contains contributions from multiple staff members for the Synchrony blog.

    *The information, opinions and recommendations expressed in the article are for informational purposes only. Information has been obtained from sources generally believed to be reliable. However, because of the possibility of human or mechanical error by our sources, or any other, Synchrony does not provide any warranty as to the accuracy, adequacy or completeness of any information for its intended purpose or any results obtained from the use of such information. The data presented in the article was current as of the time of writing. Please consult with your individual advisors with respect to any information presented.
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