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Insurance is something we often hear about, but many people still don’t fully understand what it means. Some think it is just a formality or a business trick. Others believe it is a smart and necessary step in life. So, what is insurance? Is it a need or just a deed (a duty)? Let’s explore this in simple words.

What is Insurance?

Insurance is a type of agreement or contract between a person and an insurance company. You pay a small amount of money regularly (this is called a premium), and in return, the company promises to help you financially when something goes wrong.

For example:

• If your car gets damaged, car insurance pays for the repair.
• If you fall sick, health insurance helps with medical bills.
• If a person dies suddenly, life insurance helps the family with money.

There are different types of insurance for different needs:

1. Life Insurance – Gives money to your family if something happens to you.
2. Health Insurance – Pays for your medical treatment.
3. Vehicle Insurance – Covers your car or bike in case of accidents or theft.
4. Home Insurance – Protects your house from fire, flood, or other damage.
5. Travel Insurance – Helps when you travel and face problems like lost luggage or delays.

Life is full of surprises. Sometimes, those surprises are not happy ones. People can fall sick, meet with accidents, or lose their homes in a disaster. These events also bring money problems. That’s where insurance helps. It gives you peace of mind, knowing that someone will help you when times are hard.

Yes, in many ways, insurance is a need in today’s world:

• Medical treatments are expensive.
• Car accidents happen every day.
• Natural disasters can destroy homes.
• A family may lose its only earning member.

In all these situations, insurance gives support. It helps you stand up again without losing everything.

 Or Just a Deed?some people buy insurance because it is required by law. For example, car insurance is mandatory in many countries. Some buy it just to complete office or visa paperwork. In such cases, it becomes a deed — a duty, not a choice. But even then, it ends up helping in times of need.

 Why Do Some People Avoid Insurance?

Many people still do not buy insurance because:

• They don’t trust companies.
• They think nothing bad will happen.
• They find it hard to understand the policy.
• They believe it is a waste of money.

This mind set can be dangerous. When something bad does happen, they suffer more due to lack of support.

Real-Life Example

Imagine a man named Raj. He is healthy and never goes to the hospital. One day, he meets with an accident. He is in the hospital for 2 weeks. The bill is ₹2,00,000. But Raj had health insurance. So the company paid most of the bill, and he only paid a small amount. Without insurance, Raj would have lost all his savings.

So, is insurance a need or a deed?

The answer is: It is both. It is a deed when we do it because the law says so. But it becomes a need when it actually saves us from trouble. In today’s world, where life is fast and full of risks, insurance is a wise choice. It protects not just your money but also your peace of mind.

Don’t wait for a disaster to understand the value of insurance. Be prepared. Be insured.

What is insurance?

1. Why do people buy insurance?
2. What is a premium?
3. What happens when you make a claim?
4. Name five types of insurance.
5. Why is life insurance important?
6. How does health insurance help you?
7. What is the role of car insurance?
8. Is insurance a legal requirement in your country?
9. What does travel insurance cover?
10. Do you think everyone should have insurance?
11. Why do some people avoid buying insurance?
12. Is insurance always useful?
13. What happens if someone has no insurance during a crisis?
14. What is the meaning of “a need or deed” in this context?
15. How does insurance give peace of mind?
16. Can poor people afford insurance?
17. Is insurance only for rich people?
18. Do you think the government should offer free insurance?
19. How can insurance help during natural disasters?
20. What are some common myths about insurance?
21. Have you or your family ever used insurance?
22. How can we educate people about the importance of insurance?
23. What problems do people face when buying insurance?
24. In your opinion, is insurance a smart choice?

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