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Mrrafil [7]
3 years ago
12

What is the relationship between insurance and successful financial management? Why is insurance important?

Business
2 answers:
Mila [183]3 years ago
4 0
Insurance is important because you are insuring items or things that mean something to you, or to protect others,insurance can help in case any accidents happen and you <span>couldn’t get that item back.</span>
harkovskaia [24]3 years ago
3 0

Successful financial management is the proper use of your money to maximize your income, whether in the financial market or a productive investment such as a trade or factory. Efficient financial management also consists of emergency planning and protection against unexpected situations that could put your assets at risk. Like for example a fire. It is in this sense that insurance is important. Insurance is a contract you make with an insurer to protect your assets if that event occur. For example, if you take out fire insurance, if a fire occurs in your home or business, the insurer will reward what you have lost financially, according to the terms of the contract.

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Answer:

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Explanation:

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