Insurance is important because it helps protect against unexpected events like accidents, illnesses, or disasters. Without insurance, covering the costs of things like medical emergencies or property damage can be overwhelming. By paying a fee and having insurance, you don’t have to worry as much. In a way, paying for insurance is like paying for a peace of mind. Having insurance certainly makes me feel more secure.
Insurance is mainly made for the purpose of dealing with perils. When a family faces financial problems, insurance becomes a good way to overcome those financial problems. If someone meets with a serious accident and needs money for the treatment of that accident, life insurance comes in handy for that person. Agriculture insurance and livestock insurance becomes very important for someone who needs to buy livestock and agricultural equipment. Therefore, when a person needs money at any time in his life, insurance can be useful for him.