Purpose of Insurance is to protect against future risk which is mostly accidental in nature and an unexpected calamity or incident.

Insurance is broadly divided into two major categories. Life and Non Life. Life Insurance covers mostly a life of an individual against any uncertain eventualities. Non Life covers all materialistic possessions against loss of Fire,Thest,Accidental damage etc.

Insurance is a system of collecting money from a larger group in small amounts called premium and compensating few people who are victims of losses and damages .

Insurance is a way of dealing with risk. To deal with risk , we have four opitons like 01. Risk avoidance 02. Risk Management 03. Risk retention and 04. Insurance.

By taking insurance , we can keep ourselves free from fear of uncertainity and concentrate totally on our profession and activities which we like most.

To have adequate protection from insurance , better we know all the intricacies involved in it and have full and thorough knowledge of insurance benefits.

Insurance knowledge provides us the techniques of risk management and risk identification and potential hazards involved in managing high end risks.

To take few examples, Health insurance provides us with ultimate protection and healthcare in every aspect.

Automobile insurance provides protection against damage to vehicle in case of accident .

Home Insurance provides protection against House property against loss or damage agaist fire, flood etc.

The list goes on ....