What are the Benefits of Insurance?

The following are the benefits of insurance:

1.Peace of Mind:- The knowledge that Insurance exists to meet the financial consequences of certain risks, provides a form of peace of mind.

2.Loss control:- Companies have developed considerable expertise in the Technology of different forms or loss control.

3.Social Benefits:- The fact that the owner of a business has the funds available to recover from loss stimulates the business activity, jobs are being maintained and goods or services can still be sold. Thus people maintain their job and source of their income.