The basic purpose of insurance is to

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The basic purpose of insurance is to protect you from financial losses in case of unexpected events such as accidents, illnesses, or natural disasters. It serves as a risk management tool to safeguard your assets and provide a sense of security. While insurance may indirectly help protect your health or supplement your income by covering medical expenses or providing disability benefits, these are not its primary objectives. Similarly, it cannot shield you from bad decisions that may lead to losses, as insurance policies do not cover intentional acts or illegal activities.

The Basic Purpose of Insurance Is to