Insurance is shifting the risk to someone or something that is more likely to be able to handle the catastrophic event. People often insure their life through life insurance, their income through disability insurance, their business through business overhead insurance, etc.
Insurance is a big industry, providing people much needed protection against paying out thousands or more if accidents or other incidents were to occur. In some cases, people end up taking out a payday loan because they don’t have insurance and an accident has left them in a financial mess. However, loans should only be taken out in a financial emergency and insurance can act as a solution to avoid having to opt for this. With the current insurance market offering an abundance of different types, it can be difficult to know which one you should opt for using and what they [...]