N_Quizitive_1
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To transfer the possibility of a loss (risk) to an insurance company, which in turn spreads out the costs of unexpected losses to many individuals.
Though the purchasing of insurance will not eliminate the risk of death, illness, injury or property damage, it relieves the insured of the financial losses these risk bring. |
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mufflerbearings1967
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Insurance is the transfer of risk. You pay a third party to assume responsibility in the event that a loss occurs. You gamble that a loss will occur, they gamble that it won't. |
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negaduck
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the purpose of insurance is to provide yourself a safety net to help you when the unexpected happens |
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Roy S
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It's to spread the woes of a few amongst the many.
RoyS |
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sahel578
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to guard against the unknown.. and to lessen your financial burden |
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Mark S
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Transferring risk from yourself to the insurance company. You go driving hit something, without insurance YOU pay for it but with insurance the Company pays for it. You do have to make monthly premiums in order for the company to take on the risk themselves. |
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?
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These days, mainly to enrich insurance companies. It was intended to spread risk around among many, but now if there is a significant need for it the companies pushing it refuse to pay what they promised.
Largest lobby in Washington is the insurance lobby. |
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B.Kevorkian
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Insurance is a confidence scheme that combines the worst aspects of communism and capitalism.
The idea is to get a large number of people to pay you money every month, in return for the promise to pay out a big chunck of money to individuals when bad things happen to them. Then you invest that money for a reasonable return, and, when someone actually comes to you asking for that big payout, you try every trick in the book to avoid or delay paying, pay only if you absolutely have to, then cancel his policy.
It's a chicken mutual-aid society managed by a fox. |
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Doodles
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it's a conspiracy to get monthly premiums from you so they can get rich and then if you have a claim you have to fight them to get every penny that is rightfully yours in the first place. |
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out of control
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its the biggest scam......... |
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onecowboyjake
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to provide jobs for insurance sales people |
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www.citimates.com
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to ensure u or some1 will be compensated for a loss.
like u buy and car with insurance. so if u lose ur car in an accident they give u money to buy a new one.
although u have to pay monthly for insurance so u can use when needed. |
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mbrcatz
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To transfer the risk of something, to someone else. |
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mtchndjnmtch2000
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In case you need to cover a problem that you don't have the money to use for it. |
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car0l.patterson@btopenworld.com
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if you dont have insurance people could claim gross amount of money from you. |
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sammi-sumskins
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umm so if you get hurt or your car gets damaged you have something tht will help you pay for it and back you up? |
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RAWR.
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To insure you! |
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My 2 Cents
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So you don't have to pay the real price to get a checkup, car fixed, house repaired, etc. Would you want to not carry insurance then pay 10 of thousands of dollars if something happen to your house or if you were buying a car and the car got totaled and you have to pay the lender for the car would you have that money just lying around. It's not just a piece of mind but something to save you money if something bad happens. |
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Jane
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what kind of insurance.,....the kind of insurance would tell you the purpose....
health insurance gives you medical coverage
car insurance covers you if you are in a car accident or various other things that can happen to your car (what is covered depends on the coverage you select)
renters insurance covers things that may happen to the place you live when you are renting
life insurance leaves something for your benificiary upon your death.
and so on the purpose of the insuarnce depends upon the kind of insurance, |
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rockyfella25
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to save your butt |
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