Question

Write a paragraph about the costs and benefits of having insurance.

Answer 1

The cost of insurance can be quite high especially for life insurance if obtained when one has a medical condition but can at least alleviate anxiety of spouses who worry about their financial security if their partner dies early. because then they can get financial help to pay for mortgages/rent etc. Also, for car insurance, the premiums can be high but if one gets in an accident, especially if one does not have fault, then the cost of repairs and some medical treatment will be paid.

Answer 2

Insurance refers to the contract policy between the person who looks for the insurance and the other person who does the insurance of the particular party. The parties involved in the insurance are known as the insured and insurer.

A paragraph about the cost and the insurance:

The 21st century is a world of uncertainties whether it be of business or life. The uncertainties are the unknown happenings of life that can happen at any moment of life. The cost of life insurance is usually high as compared to any other. The benefits of insurance are the payment of losses. The second obvious benefit of insurance is cash flow management. The insurer party ensures the management of cash flow positively in the household. The insurance avoids the payment of large costs from the pocket of the household.

To know more about the cost and benefit of the insurance, refer to the link below:

https://brainly.com/question/6867312