Question

Explain why we need insurance companies

Answer 1

Why is insurance money important Top 3

Step-by-step explanation:

Main reasons

-Insurance ensures family’s financial stability No matter how much you have managed to save

-Insurance reduces stress during difficult times

-Insurance ensures family’s financial stability

Answer 2

Answer/Explanation:

Insurance is key to you being able to focus on the important things in life because it will ensure financial security for you and your family should anything unfortunate happen. Both businesses and individuals buy insurance to protect themselves against the uncertainties that cause financial as well as a personal loss. Insurance is a mechanism for protecting people against losses, damage, injuries, and costs associated with unforeseen events.