1] Financial Stability
- Prevents financial consequences that maybe faced without Insurance
- With Insurance, even if losses occur, people can look on the bright side and get their money back for those losses
2] Peace of Mind
- People can benefit from Insurance even if they do not claim from it, anxiety is reduced if the insured knows the Insurance is in place if an unexpected event were to occur
3] Stimulates Business Enterprise
- The need to retain large amounts of money to pay for potential losses disappears, and the money can be put to more productive use
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