Question

identify the benefits of purchasing insurances versus the benefits of avoiding insurance by sorting the ideas into the correct categories​

Answer 1

Benefits of purchasing insurance: have protection if there is a problem, may have piece of mind, and can help avoid costly expenses.

Benefits of avoiding insurance: can find other ways to reduce risk, might not need insurance after all, and do not have to pay premiums.

Step-by-step explanation:

Just did it on Edge 2021 and got it right

Answer 2

Answer: They are various reasons why insurance is important;

1) It helps pay for loss

2) They help manage uncertainties in cash flow, and provide for losses when they happen

Step-by-step explanation:

Purchasing insurance is highly recommended in the society today.

An insurance is seen as a contract used to protect individuals and organization against loss when it's been experienced. They are various reasons why insurance is important;

1) It helps pay for loss

2) They help manage uncertainties in cash flow, and provide for losses when they happen

Among this reasons, they are some school of thought who don't find it necessary carrying out an insurance plan. These sector believes in sorting issues out on their own and try to apply much carefulness to deeds. They tend to take up the risk for anything that happens to them and bear the losses