Insurance is a social system that aims to create a reserve to face the uncertain losses that individuals and institutions are exposed to by transferring the burden of risk from one person to several people or a group of people, meaning that insurance is a system designed to reduce or reduce the phenomenon of uncertainty of financial losses by transferring burden of danger. Insurance or the insurance system or the guarantee is a means to confront the risks that a person is exposed to in his entity or his money during his life in order to mitigate their impact.

Insurance is a successful way that helps protect your financial future in the event of any accident or terminal illness that hinders you from working and earning money. Home and life insurance.

In terms of coverage, insurance has been divided into 3 main types: (1) general insurance, (2) health insurance, and (3) protection and savings insurance.

Insurance is one of the necessities of contemporary life, as insurance helps to face the financial loss resulting from the accident of death, or the premature death of those who are dependent on the individual, and insurance is a means to face the lack of income for the family or the interruption of income, due to death or reaching a certain age.

This insurance may be insurance on the person of the insured himself, or another person, in particular the members of the family of the insured. This insurance has a dual nature, in terms of insurance for persons in relation to the insured’s undertaking to pay the agreed upon amount of insurance, regardless of the damage or amount that is achieved as a result of illness.

The sum insured is an amount that is usually specified at the conclusion of the contract, and it constitutes the maximum commitment of the insured and based on which the premium to which the insured is obligated is determined. Therefore, the sum insured is nothing but “the amount within the limits of which the insured is bound.” Accordingly, the insurance premium is calculated by the insurer as it is directly proportional to the amount insured.

The most important 7 insurance benefits
The benefits of insurance are many, but they can be summarized in only 7 points:

Maintain savings.
Guaranteed stability of work.
Effectively manage risks.
Protect your future and your family’s financial future.
A profitable and guaranteed investment like other types of investment.
Insurance makes it easier for individuals to obtain loans from banks.
Psychological benefits such as the peace of mind to lean on something in the event of sudden physical or health risks.

Medical insurance benefits
Covering basic medical expenses such as checkups and medicines to get better health care.
Covering expenses against serious diseases with high costs of treatment.
It bears a large part of the cost of many medical tests.
The benefits of medical insurance for women are numerous to include a large part of the costs of childbirth.
Some types of medical insurance may cover all or part of the costs of plastic surgery, such as plastic surgery, obesity, and others.

Car insurance benefits
There is no one who does not like their car, and really if you really love your car then you should consider the benefits of car insurance that include:
Protecting individuals from material losses in the event of any damage to the vehicle.
Compensation for the owner of the car in the event of any injury to one of its occupants in road accidents.
Car insurance against any natural disasters such as floods, earthquakes, storms and fires.

Property Insurance Benefits
Property insurance is one of the types of insurance that includes insurance on shops or private properties such as homes, offices and buildings, and the benefits of property insurance vary depending on the type of things you want to insure, and it is common that the benefits of property insurance include some advantages such as:
Insurance against theft and burglary.
Insurance against natural fires, electric diamond fires, and others.
Protection from floods, torrential rains and earthquakes in some countries that are famous for being exposed to such types of natural disasters.

In the end, do not think of insurance premiums as an unnecessary monthly expense that increases your financial burden, but rather think of the various insurance benefits and choose the insurance that is appropriate for your future needs that can help you avoid unexpected expenses that were not taken into account in the future without affecting your basic savings .