Why people do insurance of their lifes, home furnitures or a car.
Insurance Benefits and Reasons: 1. Financial Security 2. Risk Mitigation 3. Peace of Mind 4. Asset Protection 5. Family Protection 6. Emergency Preparedness 7. Legal Requirement (e.g., car insurance) 8. Investment in the Future 9. Health Care Coverage (life insurance with critical illness riders) 10. Property Damage Coverage (home and auto insurance) 11. Liability Protection 12. Mortgage Requirements (home insurance) 13. Accident Coverage (auto insurance) 14. Loss Recovery 15. Long-Term Financial Planning People purchase insurance for their lives, home furnishings, or cars for various reasons: 1. Financial Protection: Insurance provides financial security in case of unexpected events like illness, accidents, theft, or damage. It helps cover the costs of repairing or replacing assets, medical bills, or even providing for loved ones in c...