by adminInsurance helps us to cope with the risks we may face and contributes to mitigating their adverse effects, as the insurance company assumes the financial burden of these risks against certain premiums. Insurance products have evolved into several areas, enabling individuals to insure their health, vehicles and other property against many of the risks they may face such as traffic accidents, illness, theft or otherwise.
What is the importance of insurance?
Protect your financial future
Insurance is a successful way to help you protect your financial future if you are exposed to any accident or illness that hinders you from working and earning money. There are insurance programs that protect you and cover the risks you may suffer as a result of disability or incurable diseases such as personal accident insurance .
Effective risk management
The life of any person is not free from exposure to crises and accidents, so it is wise to hedge against this by taking the necessary measures. One of the best ways to prepare for these risks is to participate in insurance programs that suit your needs and your potential.
Protect your family financially
Insurance plays a key role in relieving the financial strain your family may suffer in case of an emergency – God forbid. There is a type of insurance product called protection and savings insurance, which provides financial protection to your family by providing a specific income according to the insurance policy helps you and your family to pay the emergency financial expenses arising from the occurrence of any abomination to you such as death or total disability or any other risks covered in Insurance document.
Insurance means investment
Insurance coverage is in itself a type of future investment. Many types of property insurance offer coverage against damage, damage or theft. The insurance company compensates you or replaces your property with a new one or provides maintenance service in case of any of the risks covered by Of the insurance policy, which saves the value of your property.
Keep your savings
Do not look at insurance premiums as unnecessary monthly expenses that increase your financial burden, because choosing the right insurance for your future needs helps you avoid taking emergency expenses that were not taken into account without compromising your savings.
Ensure the stability of your business
Insurance may be the safety collar if your project is at risk. There are many insurance programs designed to suit the needs of businesses, providing insurance coverage to withstand the risks of business interruption or protection of the company’s property such as the contents of stores or commercial property or vehicle fleet of the company against damage or theft or other.
Insurance of automobiles
Some people make mistakes in understanding the true meaning of insurance on their car and believe that the money they spend on paying premiums is a loss and an additional financial burden on them. By contrast, participation in this type of insurance helps you avoid a heavier financial burden in the event of a traffic accident. According to the General Organization for Statistics, the number of traffic accidents that occurred in the Kingdom in 1437H, 533,380 accidents, resulting in 38,120 injured and 9,031 deaths. Vehicle insurance is therefore necessary to deal with financial losses resulting from accidents, which include expenses and expenses for treatment of the injured, and compensation for the deaths and repair of damage and damage caused by your vehicle.
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