4. What are the roles doe insuarance play in your overall personal risk management strategy.

Insurance:This is the contract between insurer and ensured where by the right of compensation to
the insured loss due
to some amount of premium paid by the Ensured.

•Risk management: this is the process that identifies loss, exposures faced by an organization or
an individual and selects the most appropriate technique for relating exposures.
The following are the roles, played by the insurance to
overall personal risk management strategy as follows:

• Secure your family future. This is the role of insuarance in overall personal risk management
because to consider the difficulties your family would face in you absence. The life insuarance as
a tool you invest in will ensure their financial well being and support them through difficulties
situations

•Fullfilling financial goals.

This also the role of insurance as we know everyone has financial goals. If you include planning
your retirement and generating a source of passive income, life insurance is a financial toot you
can use.

•Provides protection.
Additional insuarance plays the role of providing protection. Because the plan provides a
life cover along with added benefits of wealth creation. also it being the peace of mind
•Better repudation
Also insurance plays the role of bringing a better reputation in some business or
organization. Because having insurance reflects well on the company and maker look
responsible, which can help secure that necessary loan or investment.

•Patiction from financial loss.

 Further more insurance plays the role of protection from financial loss to small business,
a multitude of things can go wrong from natural disaster to theft and burglary insuarance can be
the tool in preventing financial losses in the business.

Encouinge saving and investiments

To conclude with encourage saving and investment. Disciplined saving is the key to financial
planning, for those interested in exploring investiment options. can consider unit linked
insuaranceplan
.