Why do we need insurance?
Insurance works as a hedge against the prospective losses from the future
unexpected events that can jeopardize human lives. It helps us to recover quickly
from the damages by sharing the expenses to rebuild the damaged properties. The
insurance market is highly competitive and growing, forcing the insurance
companies to design customized and advanced products to suit best to their
customers’ needs. However, insurance plans can be broadly classified into life,
health, home, auto and disability insurance.