Sometimes in life it is not possible to avoid the losses. For example People may become ill. They may die of illness or accidents or their homes or other property may undergo damage or theft. In all these cases we can’t avoid all of that and it’s better to be prepared for what happen than doing anything.
I’m a teacher in my profession almost 10 years ago. I have my own family and I am also a mother. And as a mother I want to be sure that my family is safe what ever happens and so I apply for the insurance wherein these is a financially insuring that if such an incident comes about then the loss does not affect the present well being of the person. For my family I apply them for a health insurance since I don’t have any idea what happen in future and I’m not rich to cover up all the expenses in the hospital if that happen, so I think health insurance help me a lot to cover medical bills and save money. And for me I apply life Insurance, for me this is only I can invest for myself. It is like savings that in term of needs I can use.