Insurance Is Important Because. Insurance ensures family’s financial stability no matter how much you have managed to save or what your monthly income is, an unexpected event can burn a huge hole in your pocket or can simply jeopardize your family’s financial future. Choose two types of insurance and discuss their characteristics “insurance is important because it protects a person or entity from extreme financial loss or responsibility due to an unfortunate emergency, accident or negative unforeseen event” ().insurance can also aid persons who experience a financial devastation, should.
But you should also think about your needs. Knowing about insurance and its principles is important especially for candidates appearing for insurance exams such as lic, nicl, niacl and irda. Learn more about different types of policies and why you need insurance coverage in our free guide below.