The word that fits for the first sentence is insurance and the word that fits for the sentence is premium.
Given two sentences as under:
1) a financial service that offers a kind of in the event of unforeseen damage, injury, or cost,
2) is the cost of a type of insurance that is paid at regular intervals.
We are required to find a word that can be fitted in the sentence.
Insurance is basically a way to manage our risk. When we buy insurance, you purchase protection against unexpected financial losses. The insurance company pays us or someone we choose if something bad happens to us.
A premium is basically the cost of a type of insurance that is paid at a regular interval.
Hence the word that fits for the first sentence is insurance and the word that fits for the sentence is premium.
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