Alan Kaye Drawbacks of having insurance

Alan Kaye - The benefit of having insurance is that it prevents burning a hole into your pocket in unprecedented times. It gives you financial assistance for your losses and damage. 

The basic function of all types of insurance coverages is to provide damage control to the insured by bringing in a lot of people who pay to cover their risks. 

The fund is further used for capital formation through investment in the markets. This helps the insurance companies to keep running and settle/adjust the claims of the insured people. It also boosts the economy.

Insurance coverage does reduce the impact of loss that one bears in perilous situations. 

Alan Kaye Insurance - It provides monetary reimbursement during financial crises. It not only protects the insured from financial woes but also helps in checking mental stress arising out of it