In this world of uncertainties the need of the hour is security of the future. Ones security depends upon ones life and assets, both of which compliment each other. In a mans life there is a house, household goods, business, establishment, industry, car, jewelry, valuables etc in urban areas and cattle, land, farming and irrigation machinery in rural areas. All of these and many more are continuously in some form or the other exposed to risks. By risks we mean probability, of death and destruction caused by all kinds of perils ranging from natural forces like earthquakes, floods, storms to situations out of control like accidents and mishaps.
Insurance is the greatest blessing that modern times have bestowed upon mankind.
It enables man to overlap the barrier of death and destruction. It allows him to project himself into the future and in a real sense, preserve his assets, provide for his loved ones and pay for his old age. The fact that a man insures his life and assets for the protection of his widow, children and establishment, is certain evidence of a mental and spiritual development that makes man rank high in the future world. Insurance is fundamentally about risk and sharing of losses. The aim of all insurance is to provide compensation against losses, which beset human life and dealings.