whether insurance can solve economic problems

[audaciousbeing]

Does your country have insurance and whether is it useful to overcome your economic problems,

I see in some countries only people who have enough economics who have insurance
and those who are poor do not have insurance.
is this fair.

Insurance as a business enterprise does not come to solve any economic problem but to make profit which is their primary motive. Its in the process of making that profit that they realise there is need to solve a problem then they make it sound that is the reason why they are in business. It purely a business strategy to cover the real purpose and play on peoples emotion. The reason for my conclusion is when what you insure didn't suffer any loss, you don't get your premium back and you cannot wish to have bad occurrence happen because you seriously want to be indemnified.

People who are poor most times don't want to have insurance not because they are poor but because they feel they are being cheated and they know that the chance of bad occurrence happening to them is lower compared to rich people who can afford high gadgets, high class vehicles that can be susceptible to theft, or huge property that could bring attract thieves to them.

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[kendedese]

yes my country has insurance. insurance can solve economic problems because if something bad happens to you or your family, insurance can deal with the losses that you experience.

[Ridwan Fauzi]

Does your country have insurance and whether is it useful to overcome your economic problems,

I see in some countries only people who have enough economics who have insurance
and those who are poor do not have insurance.
is this fair.

Insurance is indeed for the rich people and not for people who have a poor economy. And the purpose of insurance isn't make someone to get rich or become poor. Insurance is a place to save money or a place as your guarantee in old age. For example for your health care, with insurance you can treat your disease for free. Every month you will save money or spend money to the insurance you choose and there are several classes depending on your ability.

And I guess it's very rare for people who have poor economy to choose an insurance. For them to cover the cost of their daily lives will be arduous and they will not be able to pay every month.There is something wrong with your understanding of insurance, it will be good you read what insurence is and what the insurance function is.

[omfg.xekcep]

Insurance is an instrument and, of course, it cannot solve economic problems. Actually insurance is a market where a trading asset is risk. We can realize it like there are two counterparties where the first of them wants to reduce his risk and he is ready to pay for his wish. The second of them wants to earn and he is ready to take alien risk for a fixed payment. Actually there is a derivative instrument which is named an option. Mostly options are traded on CBOE and they are used by professional traders and producers. As you can see insurance is widely used but it is useful just for a small part of economic subjects and I am sure that insurance cannot solve economic problems.

[Visteryy]

yes my country has insurance. insurance can solve economic problems because if something bad happens to you or your family, insurance can deal with the losses that you experience.

Insurance coverage will only help you. It depends on each group of insurance, they can not be the same. And using insurance also requires knowledge to avoid things that are not really clear about them. The economy is the same.

[Sylvei]

For some group of people probably yes,not for all people. I my own country only for them who are good financially and economically have a insurance. It may apply in any country. It is just helping the owner to make easy their activities and certain transactions but not to overcome the economic problem.   

[droptableguy2]

yes my country has insurance. insurance can solve economic problems because if something bad happens to you or your family, insurance can deal with the losses that you experience.

I can understand the water insurance you have done very well. However, I think that is just the case, those who have been insured. Only then will the help be received, but the fact will not happen. It is also hoped that some countries will apply it all to those who are in a difficult situation.