Insurance is an effective guarantee of your life and property. Insurance can come in two forms: life insurance and non-life insurance. Nonlife insurance is also known as property insurance. Life insurance can be of the life of the person, with relation to life such as health and education, or even body parts. Nonlife insurance on the other hand is about risks when it comes to the property. It can be fire insurance for homes or accident insurance for vehicles. Or it can be a mixture of both. Insurance can also be for individuals or for corporations or groups of people.
Having insurance does not minimize risk. Risks and dangers are always there. The benefit of having insurance is that even if the risk or the danger actually occurs and befalls upon you, you have a guarantee of return. You are not at a total loss. You will still receive an amount to compensate for what you have lost.
In case you did not avail of insurance, in case something happens, you will be left with nothing. For example, your office is not insured, in case of fire, not only you have lost all the resources and files in your office, you get nothing out of what happened as opposed to having fire insurance, in case that happens, you will receive money from the insurance company that you may use to rebuild your office once more and purchase the equipment and machinery you have lost due to the fire.
In cases of life insurance, if you insured yourself, in case that something happens to you, like death or crippling disease or disability, at least the future of your family especially your children is secured due to your insurance. If you really care about security especially those of your loved ones, consider getting life and property insurance.