Why we have insurance to cover catastrophic losses

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Reference no: EM132234396

It is understandable why we have insurance to cover catastrophic losses. Not many of us have hundreds of thousands of dollars laying around. Interestingly, there are many individuals who have insurance to cover small expenses (i.e. dental. Vision). This will be the topic of this week’s discussion. First, discuss the reasons why a person would purchase insurance vs being self-insured. Next discuss why someone would choose to have coverage for a small claim. Be sure to briefly mention the three reasons listed in your textbook. Do you think the cost of the premium is worth it based upon how much it would cost out of pocket to get dental, vision, etc.?

Reference no: EM132234396

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