Question

Why do I need insurance?

Answer 1

Basically, you need insurance to protect your life, your ability to earn income, and to keep a roof over your head. It isn't mandatory but good to have.

Hope this is the answer you were looking for and that it helps. :)

Answer 2

The role and importance of insurance has evolved as a process of safeguarding the interest of people from loss and uncertainty. It may be described as a social device to reduce or eliminate risk of loss to life and property.

Hope this further assists your question!