... head: Insurance Insurance Insert Insert Grade Insert 28 October Insurance has been in existence for a long period; however, today, it has become more prevalent, as the insurable items keep on expanding. This paper discusses critically the concept of insurance, including its benefits and various types of insurance that exist. It emphasizes on the importance of insurance not only as a cushion in times of uncertainties, but also as a form of investment.
Insurance is a practice that involves a company guaranteeing compensation for a specific loss such as, illness, damage, or even death; in return, the client is supposed to make certain payments. Economics defines insurance as a for...