What is Insurance?
Insurance is nothing but getting assured from the Insurance Companies in case of the happening of the Risk like death, Fire, Health etc.,
Now-a-days insurance is becoming an integral part of every human being. The fear of uncertainty in business and life makes people to invest in insurance. This was very helpful in solving many problems in life of a human being.
The following are the advantages of the insurance
- Providing security
- Spreading of Risk
- Benefit of compensation
- Tax benefits
- Post retirement financial support
- Encourage Savings
- Encourage International trade
- Eliminates Dependency
- Create Employment opportunities
- Helps to operate business smoothly
- Helps to develop economy
- Source for collecting Funds