Video: What Are the Functions of Insurance?

What Are the Functions of Insurance?

The functions of insurance are to protect the insured in certain types of situations. Find out about the functions of insurance with help from a longtime member of the professional banking and insurance industries in this free video clip.

Video Transcript

Hi, my name is Emmanuel Osuyah, I am Principal of the Promise Insurance Group and I am a Certified Insurance Counselor. Today, we will talk about the functions of insurance. I love the insurance business for one particular reason. Because this world that we live in would not be the same, the business environment would not be the same. Businesses would not take risks as we see them take today, if they don't have insurance protection. Insurance essentially is peace of mind. When you get behind that car to drive and you know you have insurance it gives you the peace of mind that if something goes wrong you will be reimbursed. And that brings me to reimbursement. You see insurance is designed to make you whole. Not make you a profit. It is designed to give you back what you lost. So if your TV gets stolen you get a TV back. You don't get a TV and a sofa to sit and watch the t.v. I am Emmanuel Osuyah, and I thank you for watching.

What Are the Functions of Insurance?

Comments

Related Ads

Related Articles & Videos