Finance, Taxes, Insurance
What is insurance?
To better understand insurance it helps to understand what it really is.

To better understand insurance it helps to understand what it really is. The historical foundation of insurance is that disaster can strike anyone, at any time. The concept of insurance is the good fortune of many helping provide for the bad fortune of a few.

Insurance dates to 2100 BC and the days of Babylonia. Traders took loans to finance long-distance trips across deserts and through mountains to acquire and sell goods. They would pay back the loan, plus interest, from the profits of their trip. The Phoenicians and Greeks had a similar system to finance their ocean-going trade efforts. It is not difficult to imagine the vast assortment of potential problems that beleaguered those early traders, causing many to lose everything.