INSURANCE

Insurance: Is a financial tool that provides protection against various types of risks and uncertainties. It offers individuals, businesses, and organizations a way to manage potential financial losses by transferring the risk to an insurance company in exchange for premium payments. Insurance can be used for a wide range of purposes, including:

Life Insurance: Life insurance offers living benefits, financial support for both the policyholder and policy beneficiaries before and after the policyholder's death. It can provide a retirement income, provide benefits while living and cover funeral expenses, outstanding debts while providing financial security for dependents.

Disability Insurance: Disability insurance provides income replacement if an individual becomes unable to work due to a disability. It ensures that the insured person can maintain their standard of living.

Business Continuity: Businesses use insurance to safeguard their operations from unexpected disruptions.  Certain types of insurance covers lost income and expenses when a business cannot operate due to covered events.

Risk Mitigation: Insurance helps mitigate the financial impact of unexpected events, such as accidents, natural disasters, or health issues. It provides a safety net that can help individuals and businesses recover from losses.

Healthcare Costs: Health insurance covers medical expenses, including doctor visits, hospital stays, medications, and surgeries. It helps individuals manage the high costs of medical care and promotes regular healthcare access.