Re: Is Insurance Necessary?
Future is uncertain.. At his time, Insurance policy comes into handy..
Insurance is an agreement between the insurer (the company) and the insured to pay an amount as compensation if any unexpected event occurs.
Insurance becomes essential at times when the event occurred is extensive and we are not in a position to bear the losses. Say for eg, the only working person in the family meets with an accident, how will the family survive?? In such a case, if that insured person has a policy, the family can claim the amount.
It is neseccary.But, if you have enough money, you can be self-insured too...:thumbsup: