The farmer now, who had fenced his land so that it does not get grazed or destroyed by any animal was only because the hard work which he has put in for months together to grow that crop does not get wasted. Once he sells that crop, the harvest, which he gets in money value,Types of insurance policies, will take care of his household needs. His reason to hedge the field was to cover the risk of loosing on the value of his harvest and not because it would have increased the productivity of land. It is the bare minimum he can do for his and his family’s sake to save them from hunger and poverty. Now coming on to the last aspect, where we as individuals are very concerned about getting our car or prized possession insured the moment we buy them. The prime reason for that is when you are driving, you are assured that the car is insured. You cover the risk of loss, which can be seen through any unforeseen accident that damages the car. Because if the car is damaged, you will be keen to get it repaired,What is HLV (HUMAN LIFE VALUE). which could be a heavy cost and probably your savings might not allow you or might not be of the capacity for you get it repaired on time. So, the love for your vehicle and the quantum of repairing and replacement costs that are attached with the insurance policy covers the risk that you might come up with if your vehicle meets with an accident. This sole reason makes you take up an Why you need insurance,insurance plan on your vehicle. Hence, primarily all these incidents were acted upon by all these individuals discussed above only to preserve the risk of the loss that could come to them if they do not do what they have been doing. Similarly, in personal life insurance as a subject is more about covering of risk that people perceive or foresee in years ahead. To cover that risk of eventuality or uncertainty they take up insurance. They insure their life, their assets and liabilities and shield themselves against the shocks they may face in life. Same goes with the lives of you and your loved ones. If any one member of the family is in a profession carrying a little risk to life (compared to other professions) or is in an unfavorable state of health, How to invest in gold insurance in such cases is highly recommended. Similar is the case where there is only one earning member in the family, his/her insurance takes care of money flowing in, in case of any untoward tragedy in the form of loss of health or life.