Why is Insurance necessary

Insurance is very necessary because you may lose all of your money with in a very short period of time accidentally.so the insurance will insured you will be okay even if some thing bad happened to you.

First of all, there are many type of insurance now a days. Term insurance, whole life insurance and Endowment insurance those three insurances are called traditional insurance. And the new one the Variable which means it insured your life, savings and hospitalization. Meaning if suddenly got you illness or one of the member of your family confined in hospital, the insurance company will pay for your bills. While savings, If you have enough funds for the premiums you paid, you can also withdraw your money like savings without any deductions from your Principal meaning the face amount is still intact. And lastly try to think of this, let say you have a monthly savings of 4k and you just put in a bank, in one year your saving will accumulate to 48k (4 x 12), then suddenly happened to you or the doctor diagnosed that you have a cancer in that year. How much is the cost or the expense for that? Do you think the 48k you have will be enough? However, if you are insured, the Insurance company will take those expenses. So be wise and think of the future and also be careful of the insurance company will you go. goodluck!

well i think its necessary. Like for a car and such. you dont know if an freak accident will occur and such.

Insurance is for protection, not for investment. We need the insurance because when something bad happened to us, we can have a sum of money for continue living. People who has adequate funds will not required insurance because he/she will not face financial problem even somethings bad happened to him/her. For most of the people who need to work for living, Insurance is necessary.

It is necessary. Your wife maybe working in a very good company for now. But she won't be working all her life. If you mean "very well in life" in health, that may be the case today. How about tomorrow? But be very careful in making this investment. Choose your insurance company well and do not fall for the money you will get. Remember, they have to earn more from your money than what they will be giving you. The higher the return the greater the risk of loss involved. Also, choose one that is right for you. Mine for example, I have a life insurance because I'm the bread winner. Should something happen to me, at least my members will not be eating dirt and they can start a business with it for their livelihood. If you have lots of properties perhaps an estate tax insurance is for you. And so on.

Why is insurance necessary? Because insurance can ALWAYS pay your emergency expenses (up to one-million dollars), even when you may not be able to---it's WHAT THEY DO. It's NOT what you do. Wouldn't you rather worry about not hurting yourself-because it's not fun than -because the green whip of your master isn't long enough to pay for it?