A good insurance policy serves as a protective shield, ensuring financial security in unexpected situations. Insurance provides coverage for unforeseen events, safeguarding borrowers against financial strain that might affect their ability to repay loans. For instance, a comprehensive insurance policy can offer coverage for loan repayments in case of unexpected setbacks like job loss, disability, or critical illness, mitigating the risk of defaulting on loan payments. This level of security enhances borrowers’ confidence and ensures a smoother loan repayment process.