The characteristics of insurance are reflected in the following aspects: 1. Mutual insurance.

Insurance is established by the majority of people on the basis of mutual assistance. It is a safeguard measure that pools the strength of the majority to share the risks of a minority.

The core of insurance is that most policyholders pay insurance premiums, and the insurer sets up an insurance fund to compensate the insured for losses caused by insured accidents.

Therefore, mutual aid is the basis of the insurance system.

2. The compensatory nature of insurance.

It is a system in which the policy holder pays the insurance premium, and when an insured accident occurs in the future, the insurance company compensates for the accident losses.

In property insurance and personal insurance, the compensatory performance of insurance is different.

The former is to provide economic compensation for losses according to the principle of compensation, and the latter is to provide compensation according to the agreed amount.

3. Insurance luck.

Also called insurance gains and losses.

In insurance, the insured's obligation to pay the premium is certain, while the insurer's liability to compensate or pay the premium is uncertain and depends on whether the uncertain danger occurs.

When an insured accident occurs, the insurer will be responsible for compensating or paying insurance premiums.

But if there is no insured accident, the insurer will only charge the insurance premium but not the insurance liability.

This is the luck of insurance.

4. The voluntary nature of insurance.

Also known as the contractual nature of insurance, it means that insurance requires the conclusion of an insurance contract between the policy holder and the insurer.

As a type of contract, insurance contracts take freedom of contract as the highest principle. Insurance companies and others may not force others to enter into insurance contracts (except as provided by laws and administrative regulations).

5. Insurance savings.

This is mainly reflected in life insurance.

One of the features of life insurance is to store a portion of your real income through insurance for emergencies or for use in old age.