Is Insurance is Necessary now, What humans do before insurance come into Picture.

Before Insurance, an individual's future in ownership of real estate and personal property was very uncertain.  If that person experiences a loss of property, the rebuilding and replacement process will be fully on the shoulders of the individual that experienced the loss.  Through insurance, that individual can transfer the liability and costs of the loss to an institution that charges a premium (payment).  When many people join this insurance institution, they can use this premium to pay off accidental losses for individual policyholders.  Insurance is necessary to mitigate possible future losses, therefore "insuring" your future and money from large "out of pocket" expenses.

Insurance is necessary for a person only when he has family, insurance is basically keep your family standards intact and fullfill your dreams when you are not there....so insurance is must if you love to your family.