Dear people, i also want to tell you about importance of insurance and its advantages, Insurance encourages savings by reducing your expenses in the long run, you can avoid out of pocket payments for unfortunate events like medical ailments, loss of your bike, accidents and more, its also a great tax saving tool that helps you reduce your tax burden.
insurance has a lot of advantage because it helps us to reduce the risk we encounter in business and our daily life again it also helps us purchase article at a very lower price. the way insurance works is that its a system whereby a lot of people bring there money together in small bits and then the money is used to help one of the contributors in case he faces any challenge in the business so the money they have pulled together will then be used to help the one facing a challenge. so the insurance is just like a contributory organization that helps reduce uncertainty. so having insurance can help one when for instance he loses his business as a result of fire outbreak and then with the insurance money he will be able to start again, but the question people keep asking is what happens to the money if those challenges does not occur and then there wont be a need to use the money so they think its much better for them to save the money their self and provide the helps on their own instead of depending on someone but he the advantage of the issuance company is that it will be more disciplined to make sure that the set out rules and targets for the savings are achieved, so it still remains the best way to make sure that business is done in a serious way their securing the future of workers from challenges that might arise in the future, it helps increase the confidence that investors can have in an economy because they know that a country that is well insured is more likely to come out from every uncertainty it will be facing in the long run than countries who do not care about it and such more investors will prefer investing in such countries compared to countries or business which do not.
Insurance is the only legal financial pyramid and it's really hard to say whether to buy it or save money. The answer to this goes from an estimation of risks. You don't buy insurance for, say, a lightning hit because the odds of getting Oscar is higher than being hit by this lightning. But Insurance For Final Expense or car insurance, for instance, is another story. In the first case, you can predict the need for this insurance with greater approximation, in the second case, cars are the most dangerous means of transportation that's why you buy it regularly.
Insurance the same as pet insurance surely is important and matters as it is the way of providing yourself protection against potential risks and reducing the burden of financial loss in case something unfortunate or catastrophic happens in your life.
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