ipl-logo

Why People Need Insurance Essay

821 Words4 Pages

People need insurance for various reasons. There are certain insurances that are compulsory but there are others that are not but worth to have. Insurance is when the insured is transferring the risk to the insurance company. It is an agreement between the policyholder and the insurance company to guarantee a compensation for a loss, damage, death etc. In return to this payment, the insured must pay a premium. Insurances allow the individuals to protect themselves from something that can happen and that can result in a significant loss. Everyone that wants to protect themselves or something valuable must consider insurance. The ever-growing insurance industry around the world covers many aspects of one’s life and possessions, many of which are also being offered in Malta. A numerous variety of items …show more content…

The existing foreign divorce insurance system involves in the purchasing of units for small amounts of not more than $20 per month and each unit is equal to roughly $1,250 as the minimum amount you may receive in cash when filing a claim. The number of units you buy depends mainly on the financial situation of the …show more content…

This would also avoid prenuptial agreement discussions while allowing for protection all the same. Another attractive benefit is that one may purchase divorce insurance for someone else, for example the parents on behalf of their child. During the divorce proceeding, the court may attack the validity of prenuptial agreements, while divorce insurance is less likely to fail in protecting the individual and since there is no cash accumulation it is not subject to distribution as part of the

Show More
Related

  • Divorce During The 1950's

    278 Words  | 2 Pages

    Divorce was truly a rarity during the 1950s. According to (Wilcox, 2009), the divorce rate was less than 22 percent in the year 1950, but it more than doubled to 50 percent in the year 1970. Former President Ronald Reagan’s no-fault divorce bill, which was signed in the year 1969, was one of the reasons why the divorce rate increased. Back then, in order to proceed with a divorce one must present the spouses wrong-doing. Today, because of the no-fault divorce, gives the spouse the opportunity to depart from marriage for no reason at all.

    Read More

  • Ronald Reagan's No-Fault Divorce System

    1060 Words  | 5 Pages

    Many people today feel that, in 1969, Governor Ronald Reagan made what turned out to be one of the biggest mistakes of his political career. He signed the nation’s first no-fault divorce law, introducing an alternative to the now defunct fault-based divorce system. Prior to this law, couples could only file for divorce if a fault, such as adultery or cruel or inhuman treatment, had occurred. Sanford N. Katz, a Professor of Law at Boston College who received his A.B. from Boston University and J.D. from the University of Chicago, insists that divorced Americans suffered under the fault-based divorce system. He says fault-based divorce commonly led to secret collaborations between attorneys, judges, and defendants, and influenced the assignment

    Read More

  • How Has Australia Changed Between 1959 And 1975

    1297 Words  | 6 Pages

    A divorce was only allowed if a spouse was committing or showing habits of adultery, habitual drunkenness, mental illness, laziness, and cruelty. Only one out of fourteen reasons had to be proven in court for a divorce to occur (Timeline.awava.org.au). The biggest change made by the FLA (Family Law Act) was the elimination of matrimonial fault (Monahan, 1998, 64). The change of the divorce law in 1975 benefitted married couples who wanted a divorce without having to show evidence of problems within the marriage and this is exemplified in the divorce rate statistics. In the years between 1959 and 1974 divorce rates were below 20’000 a year.

    Read More

  • Jane Doe's Essay I Wish They Would Do It Right

    1475 Words  | 6 Pages

    In the essay “I Wish They’d Would Do It Right,” the author Jane Doe objects to her son’s decision to cohabitate rather than marry because there are many benefits that a married couple can have in this society. Jane Doe’s son and his wife lived together for seven years without marriage and they were having a child. Jane Doe is very excited and ready to have a grandchild. The only concern that Jane has is that her son and his wife should legalized their marriage with a license.

    Read More

  • Essay On Auto Insurance

    1015 Words  | 5 Pages

    As stated before, auto insurance is important for anyone to have, as it compensates people in auto accidents, allowing them to pay for auto repairs. It can be somewhat difficult to choose auto insurance as there are different auto insurance companies. If you use the advice found in this article, choosing auto insurance can be

    Read More

  • Divorce In America Essay

    1543 Words  | 7 Pages

    (Introduction) Divorce or the dissolution of marriage is the termination of a marital union thus dissolving the bonds of matrimony between a married couple under the rule of law of the particular country or state. Why do people get divorced? There are many reasons why people choose to divorce each other for example, couples who get married at a very young age, they have entered into an abusive marriage, lack of education, financial problems, extra marital affairs and many more. (causes & effect)

    Read More

  • Car Insurance Research Paper

    1277 Words  | 6 Pages

    Insuring a car is mandatory, as in the future if there is any kind of injury or property damage we can claim it. Understanding insurance has always been a bit tricky and confusing as well. We need to know about our requirements and which one will suit us. What kind of insurance we would like to have?

    Read More

  • Annotated Bibliography On Divorce

    709 Words  | 3 Pages

    Yale University Press, 2006. Web. 9 Mar. 2016. Beginning with the essential historical and social context of divorce, the authors go on to provide some interesting trends and facts about marriages and divorce rates. This book also contains statistics on the distribution of separation by the duration of marriage in the United States.

    Read More

  • Essay On No Fault Insurance

    1648 Words  | 7 Pages

    In Malta , we use the conventional liability coverage when it comes to motor, which is, the ‘at fault’ insurance cover, where the insurer’s driver who is at fault is responsible to pay for the damages and injuries caused to the other driver. However, in countries like Australia, Canada and USA, a different type of policy is used. This is known as ‘No-fault’ insurance cover and also called Personal injury protection. No-Fault insurance coverage is a type of motor insurance liability where irrespective of who is at fault , both insurers pay for the damages and injuries of their own policyholder, in contrast to at fault insurance where the one who’s policyholder is at fault, meaning,

    Read More

  • Sociological Explanations For The Divorce Phenomenon Essay

    1024 Words  | 5 Pages

    For example, Bilton, Bonnett and Jones (1987) argue that increased rates of divorce do not necessarily indicate that families are now more unstable. It is possible, they claim, that there has always been a degree of marital instability. They suggest that changes in the law have been significant, because they have provided unhappily married couples with 'access to a legal solution to pre-existent marital problems' (p.301). Bilton et al. therefore believe that changes in divorce rates can be best explained in terms of changes in the legal system.

    Read More

  • Social Media's Role In Divorce

    1621 Words  | 7 Pages

    However, it is not required in any law or form of rules regarding marriage to receive marriage counseling. Marriage counseling could benefit couples to practice healthy patterns of communication as well as problem solving skills that could be used during difficult times before and after the wedding. Counseling can be very beneficial to individuals as well as couples but the cost can be very draining to those who want to seek counseling. The average cost of divorce is $15.500, and that doesn’t even account for the amount of time and stress that divorcing couples go through during the process of separating. I think free marriage counseling being something that is required could definitely help in lowering the divorce rates in our country.

    Read More

  • The Causes And Effects Of Divorce On Children

    921 Words  | 4 Pages

    Introduction According to Cherlin (1992) a divorce is a judicial declaration of separating a husband and wife from all matrimonial obligations. Divorce cases have been rising drastically since the 1970s, when the divorce laws were eased. In the past divorce was a very rare occurrence but today it’s like the song of the day. Today marriage can be dissolved in a court of law or any other competent body.

    Read More

  • Economic Trends In Divorce Patterns

    2083 Words  | 9 Pages

    "The divorce rate dropped during the Great Depression not because people were happier with their marriages, but because they couldn't afford to get divorced." Researchers claim that this is because divorcing couples are usually worried about their ability to manage their finances with a single income. This forces many couples to prevent divorce during stressful economic periods and just wait until the economy improves. Once the partners are reasonably assured that they will be able to maintain their lifestyle post-divorce, they are far more willing to separate.

    Read More

  • The Role Of Divorce In Children

    2092 Words  | 9 Pages

    INTRODUCTION Divorce is defined by the Oxford Dictionary Online (2016) as “the legal dissolution of a marriage by a court or other competent body.” In simple terms, it is a legal or official process to end a marriage between two people. Although the term “divorce” has always been seen as taboo in many cultures in the world – notably in India – it is not a word that is unfamiliar to people nowadays. In fact, according to the 2005 to 2014 records of the Demographic Yearbook by United Nation’s Demographics and Social Statistics Division, European countries make up the majority of the world’s top 10 divorced nations with divorce to marriage ratios going all the way up to 71 percent (Demographic Yearbook 2014).

    Read More

  • Changes In Divorce

    1024 Words  | 5 Pages

    Furthermore, the experience of social workers, working in the area of family welfare suggests that restricting a couple's access to divorce would in some cases serve only to exacerbate existing marital problems (Johnson, 1981). In those cases where violence is involved, the consequences could be tragic. Apart from all this, returning to more restrictive divorce laws seems to be a solution little favoured by Australians. (Harrison,

    Read More

More about Why People Need Insurance Essay

Open Document