Question

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Give 5-10 points on disadvantages of insurance.​

Answer 1

$\bold\red{\underline{\underline{ DISADVANTAGE \: \: OF \: \: INSURANCE}}}$

●It take more time for financial compensation because of legal formalities

●Sometimes the total amount of premium might be higher then the policy amount

●It not compenstate all the losses which caused business to insured by insurance company

●Insurance encourage the savings but not provide that facilities that provided my bank

●It may may causes the crime which is beneficial for the policy it temporary increase the insurance amount

$\bf\underline{By-dead \: person }$