It’s easy to desire there’s no benefit to purchasing insurance unless you file a claim.
Yet a glance into what the planet would appear as if without insurance proves otherwise. That’s because insurance acts as a kind of glue that helps society function.
After all, there was insurance well before there have been insurance companies. “Before most of the people bought insurance from an insurance carrier, local social clubs and alliances of companies banded together to make , in effect, tiny mutual insurance companies,” says Michael Barry, vice chairman of Media Relations at the Insurance Information Institute. “Insurance enables behavior that might not happen if it wasn’t available.”
SO WHAT WOULD A WORLD WITHOUT INSURANCE LOOK LIKE? HERE ARE NINE LIKELY REALITIES.
