INSURANCE
Insurance is plan by which an association or the case begin to provide a security of allowance for stated accident, hardship, breakdown, or afterlife in arrival for payment of a specified premium. It is not mechanism to avoid unnecessary act cause or happening of episode but it give security against that loss.
ASPECT AND NECESSARY OF INSURANCE
- Insurance give security:- Insurance provides freedom and security across the loss on a distinct action. Life insurance maintain safety against downfall and infirmity misery. Fire insurance assure against loss expected to fire while naval insurance add security and safety against loss of export and freight. For self mishap and disorder insurance financial protection is given when the individual is helpless to realize.
- Insurance trim business risk or losses:- In Business, commerce and trade, vast equity are engaged. by means of superficial failure, the equity may be changed in to dust. There are winner and cheat of insurance as a risk management strategy in financial planning.
3 Comments
Great explanation of insurance. By reading, I can easily understand the use of insurance and the benefits we and our family can get in the future. For now, I am applying to health insurance Philippines and I plan to apply for other insurance plans soon.
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