Why Is Life Insurance Important

Earthquakes, typhoons, accidents and inevitable things may happen at any time in the moment. These things are difficult to find prevention yet; preparedness of an individual may lessen the damage felt by these unexpected happenings. Readiness of an individual allows him to adopt or lessen worries concerning these unexpected things that may happen. One possible solution for this is availing life insurances. Life insurances enable one to lead into recovery or pass on the benefits to trustees whenever something happens. It is believed by some that the earliest form of insurances was offered in China and Babylon around 3000 B.C. (1654). Merchants at that time were travelling for their business using ships and insurances and savings enable them

Also, the goals of this research include: naming and identifying the existing types of insurance to further inform the public which is better to refer to and to impart knowledge to others on how to choose the appropriate insurance that will satisfy one’s needs, to determine the positive and negative effects that insurance brings to notify the readers about careful decision- making in considering life insurance and lastly, to provide awareness on the possible things that may happen when an individual avail an insurance.More than two century have passed, since life insurance was invented. The first life insurance policies were taken out in the early 18th century. The first company to offer life insurance was the Amicable Society for a Perpetual Assurance Office, founded in London in 1706 by William Talbot and Sir Thomas Allen. The first plan of life insurance was that each member paid a fixed annual payment per share on from one to three shares with consideration to age of the members being twelve to fifty-five. At the end of the year a portion of the "amicable contribution" was divided among the wide and children of deceased members and it was in proportion to the amount of shares the heirs owned. Amicable Society started with 2000 members. Amicable Society for a Perpetual Assurance Office, established in 1706, was the first life insurance company in the world

Through this the research used the survey to collect some importation and objectives about the topic being studied. This research will regard on the importance on life insurance. The chosen respondents of this study are the Filipinos, how have a life insurance, the researcher choose these respondents, for the reason why they need life insurance and what are the advantage and disadvantage of these research study. The research paper is limited only by 40 Filipinos respondents. Since, these Filipinos Respondents are easily to survey the researcher ask them some paper question to answer. The survey, which was consist 13 question. The Purpose of this questionnaire is to get the idea of the Importance of life insurance regarding the topic of the paper. In order to expand the idea of the research topic, the researcher get some importation in the internet and reads in journal and