Question

What is the relationship between insurance and successful financial management? 1. Why is insurance important? 2. Consider your home and possessions. What types of risks do you face? What insurance would you recommend to someone in a similar location? 3. What are personal, property, and liability risks? What are examples of personal, property, and liability risk? 4. Why is estate planning important? 5. What is the principle of indemnity? Why is this principle important?

Answer 1

Answer:

insurance is important in that it helps you indemnity the losses occured after the risk occurrence

Explanation:

insurance ensures that you are covered from all period and hazards