Why do you even need insurance?
When an individual does not have insurance they are accepting all the risk. Insurance helps an individual pass this risk on to the insurance company. This means that you, your family, and all your assets have protection in case of accidents, or illness.
Why do you even need insurance? Each insurance product serves a specific purpose. However, all forms of insurance are designed to prevent possible negative events form having catastrophic impact on your life or the life of your loved ones. For example if your death would mean your family would loose the family home, insurance can prevent that loss by providing money to payoff the mogage and taxes etc. If you were to lose your home in a fire do you have the funds to pay off the balance on the existing morgage and start over again? Insurance can ensure your home gets replaced. In short, if there is anything of value to you that you are concerned about, home, health, life, childs education, preservation of living standard, or wealth, you can pass the risk you are concerned about from you to an insurance company and not worry about it any more. Don't leave yourself and your family exposed to possible disaster. Shift the risk to the insurance company and sleep well. |
