The following is my answer to a Quora
question: “What
situations require getting insurance?”
Insurance would be required for any
situation where there is a risk that can be quantified, and you have a need to
mitigate against that risk. The primary purpose
of inflation is liability protection. It
pays out upon the occurrence of the very situation you want to mitigate
against. As such, it covers a wide
variety of situations, from your life, to your business to your activities.
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