Why does insurance often provide “peace of mind”?
People know their insurance coverage will help prevent accidents and damage.
People trust that they will make a profit if they pay insurance premiums.
People are not concerned about their health if they can pay for doctor’s visits.
People are less worried when they know they have protection from risk.
Why does insurance often provide “peace of mind”?
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The correct answer is: People are less worried when they know they have protection from risk.
Explanation: Insurance provides a safety net that reassures individuals they can manage unforeseen events such as accidents or health issues. Knowing they have coverage allows them to focus on their daily life without the constant fear of financial repercussions from potential risks. This sense of security is what contributes to the “peace of mind” associated with insurance.