Leah Kelvin
Active member
To be honest, insurance is crucial for the protection of assets by means of financial coverage against perils and hazards. It enables risk shifting, property preservation, liability indemnity, economic safety, continuous business activities, estate planning, asset conservation. Financial risks can be transferred to an insurer via insurance; assets that are destroyed can be repaired or replaced; it also helps protect from legal claims; ensures stability in terms of finances; operations in a business are sustained; relatives are catered for if the breadwinner dies; savings are safeguarded against losses that could otherwise lead to total depletion. Selecting the right insurance policies that match individual requirements is vital in giving one peace of mind and ensuring preparedness for unexpected events along life’s journey. In conclusion insurance is important for protecting assets, reducing risks and ensuring financial security.
