why need insurance in our life info.allbdjobscircular.com gives the very need for you to secure your belongings, future and life against unforeseen circumstances.
Life is a risk, so we must protect ourselves from unplanned emergencies and health issues.
Our property with very high value needs to be protected from theft, fire, flood or any accident.
The financial impact of losing a job or losing one’s life does affect a lot of things, most especially our loved one; insurance is a provision made against risk.
Insurance is like getting things in place for unexpected events and bad things that happen in life, and the best way we can control it is to set these measures aside.
As bad debt is bad for business, fire and accidents are bad for our properties. Insurance gives you the perfect peace of mind because with indemnity ( a principle in insurance), the insurance company will return you, and the insurance company client will be returned to your former position.
You and your family should consider insurance to better cover finances and other risks on your properties.
Insurance covers all risks against life, health, business and properties, so if you value the life of your family members after death, then life insurance is what you need.
Reasons You Need Insurance
Insurance is here for anyone or organization that wants to protect their properties, life, and business against risks and losses. Below are the main reasons we need insurance in our life info.allbdjobscircular.com you as an individual and to your organization.
- Insurance allows you to meet any health emergency issues, accident or illness with treatment care for future reasons; you can also insure a group of workers to enjoy health insurance.
- The death of a prominent person in a family, which could lead to financial loss to the dependents, can be covered by life insurance; insurance will help pay the famous person’s funeral, debts or other expenses.
- Life insurance helps the dependents maintain a particular standard of living even after the family’s breadwinner dies.
- Insurance helps to cover international trade risks and facilitates the foreign exchange of goods and services; marine insurance policy provides cover for cargoes and vessels
- It gives room for investment; a large part of these resources will be invested in the capital market
- Insurance has a way of reducing and controlling the liabilities of a business.
- It helps with security which improves commercial activities.
- Insurance provides a means of regular savings to provide for the future
- A life insurance policy can be used as a collateral security to obtain a soft loan from a commercial bank
- Group insurance tends to motivate workers and staff to work more efficiently vea]cause they are fully aware of a better tomorrow.
Types of Insurance
Bad debt insurance
Bad debts are called irrevocable debts; insurance covers debt that the company’s debtors can never recover. The insurance company will protect the business from irrevocable obligations.
Goods In Transit
This type of insurance protects the company from accidental damage to goods in transit. The insurance company will compensate the company if there is any damage to the goods during transport.
Group Insurance
This insurance policy covers a group of people or workers against accidents or risks while carrying out their primary duties. It makes workers work better because there is assurance that a future is secured.
Agriculture Insurance
This insurance policy covers farmers and stakeholders in the agricultural industry to compensate them in any event like the loss of crops or damage of resources due to drought, pests, flu and diseases.
Aviation Insurance
This coverage protects the use of aircraft, jets and other gadgets in the aviation industry. Commercial airlines and private users to cover the loss of aircraft, passengers and cabin crew in the event of a plane crash.
Accident insurance
This is the most popular type of insurance, and this policy guarantees compensation in the event of any form of accident which could lead to death or injury to the driver or passenger.
This insurance policy covers protection for death or injury caused by accidental, violent, external or visible means.
Types of Accident Insurance
- Motor vehicle insurance
- Third-party fire and theft
- Comprehensive insurance
Conclusion
For the above reason, we hope you need insurance in your life info.allbdjobscircular.com. You can fully understand the importance and benefits of insurance to you and your business.