5 Key Benefits of Insurance
Insurance is a risk management tool that helps individuals and organizations financially protect themselves against potential losses. It involves transferring the risk of a covered event to an insurance company in exchange for regular premium payments.
The benefits of insurance are numerous and far-reaching. It provides peace of mind, financial security, and protection against various unforeseen events. Historically, the concept of insurance can be traced back to ancient civilizations like Babylonia and China, where merchants and traders used risk-sharing mechanisms to protect their goods during long-distance travel.