Insurance

Insurance

Insurance plays a crucial role in alleviating people's fear of sudden misfortune by mitigating loss through services and /or financial compensation. By extension, it contributes to the social protection of citizens by enhancing their financial security and peace of mind.



You need life insurance only if anyone would be put at risk or suffer financially because of your death. There are four circumstances when insurance is typically necessary. ... Without life insurance to pay off business debts, an owner's heirs might struggle to keep a company going or be forced to sell it.

Individuals with financial dependents. The first category of people who absolutely need life insurance are those with dependents of any kind. This includes some of your usual actors — married couples where one spouse is the breadwinner, or a single parent.