2. People need insurance because the unexpected do es happen. Whether it is a fire, a car wreck, illness or a death, the financial consequences can be devastating , if you are uninsured. Insurance helps people have peace of mind when life's unexpected events happen.

3. Indemnity or to "indemnify" means to make whole again. The concept of insurance is to restore someone to his previous status before the unexpected event occurred.

4. A catastrophic life event such as cancer can financially bankrupt you. For an affordable monthly premium, you can avoid being devastated by these expenses.

5. The most important reason to purchase insurance is peace of mind. You can spend more time focused on daily living and less time worrying about what would happen if the unexpected occurred.

6. When a catastrophe occurs, the insurance company will handle many events such as finding a suitable repair shop, finding a qualified doctor and handling correspondence regarding your bills.

7. It is much easier for the insurance company to pay a claim for you than it would be for you to pay the expenses yourself. The cost of the claim is covered by the premiums paid by all people insured by the company.

11. Types Of Insurance Life insurance Non - life Insurance(General) Aviation Marine Property Miscellaneous

19. Source: www.rncos.com LIC PRIVATE PLAYERS Growth – 21.87% Growth – 129% Earned – Rs.197.86 billion[04-05] Sold – 2.4 billion policies Earned – Rs.55.57 billion[04-05] Against Rs.24.29 billion [03-04] Market share – 87.04% 78.07% 75% Market share – 13% 22% 24%