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3 Main Roles of Insurance
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[QUOTE="Suba, post: 255744, member: 3658"] The role or benefit of insurance in general is as an instrument in anticipating the risk of unexpected financial losses. In other words, insurance plays a role in transferring some of the risk or all of the risk that must be borne by the insurance policy holder to the insurance company. Here are the 3 main roles of insurance: 1. Role of Insurance for Individuals or Personals. The role as a transfer of risk is as a protection for yourself and your family, so insurance can help cover unexpected and sudden expenses, provide health insurance, insurance as risk management that is useful for controlling and reducing risks that may occur. So insurance will act as protection of self and family or property belonging to individuals. 2. The Role of Insurance for Companies or Businesses In the business world or insurance companies act as assistance to business enterprises. This means that insurance supports business development and growth by providing guarantees for the risks of loss that may be suffered by employees, business managers, investors and company assets. 3. The Role of Insurance for the Economy Insurance will also play an indirect role in the economy of a country. Premium funds collected from insurance policy holders, are often deposited in mutual funds so that it will increase the state income tax. [/QUOTE]
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