INSURANCE
A SHIELD AGAINST RISK
Avani Shinde
8D
What is Insurance?
Insurance is a contract between an individual or
business with an insurance company to help provide
financial protection and mitigate the risks associated
with certain situations or events. There are various
types of insurance available, including health, dental
and vision, life, auto, and legal insurance.
why do people need
insurance in todays Medical Emergencies: Sudden
world? illnesses or accidents can lead to
costly hospital bills. Health
In today’s world, people need insurance because
life is unpredictable, and unexpected events like
insurance helps cover these
accidents, illnesses, natural disasters, or theft can expenses.
lead to huge financial burdens. Insurance Car Accidents: Traffic collisions
provides financial protection, ensuring that can damage vehicles or injure
individuals and families aren’t forced to pay
massive expenses out of pocket. It also offers
people, and car insurance helps
peace of mind, legal compliance in cases like car pay for repairs and medical
insurance, and security for loved ones through costs.
life or health coverage. Beyond personal Property Damage: Fires, floods,
protection, insurance safeguards businesses and
property, helps mitigate risks in modern life, and
or theft can destroy homes or
can even serve as a form of savings or belongings, and home or
investment. Essentially, it acts as a safety net, renters’ insurance provides
allowing people to live, work, and plan for the financial protection.
future without constantly worrying about
financial ruin.
TYPES WHAT IT COVERS WHO NEEDS IT
HEALTH medical bills everyone
LIFE death benefits families
VEHICLE accidents drivers
HOME property loss homeowners
INSURANCE
CARD EXAMPLE
Avani Shinde
International city
Dubai, UAE
Peace of mind, mile after mile
COMPARISON
WITH INSURANCE
Riya, a 35-year-old teacher, collapsed one morning while preparing
her kids for school.
Her husband rushed her to the hospital, terrified of what the doctors
might say.
The diagnosis was serious—emergency surgery was needed right away.
The cost was overwhelming, running into thousands of dollars.
But Riya’s family had invested in health insurance years earlier.
The insurance company covered most of the hospital expenses.
Her husband only paid a small deductible, keeping their savings safe.
Riya recovered well, and life slowly returned to normal.
Her children stayed in school, and the family’s plans remained on
track.
The crisis was scary, but financially, they were protected.
WITHOUT INSURANCE
Aarav, also 35, collapsed at his workplace one afternoon.
His colleagues rushed him to the hospital, and doctors confirmed
he needed surgery.
The bill came to thousands, far beyond what his family had saved.
Since Aarav never had health insurance, the full burden fell on
them.
His wife borrowed money from relatives and took out loans.
The family’s small savings vanished within days of treatment.
To repay debts, they cut back on groceries and essentials.
Their children’s extracurricular classes were stopped to save costs.
Although Aarav eventually recovered physically, the stress
remained.
The family’s finances suffered for years, turning one health scare
into a lasting burden.
INTERVIEW
DO YOU HAVE INSURANCE?
Yes, I’m covered by insurance.
WHAT TYPE OF INSURANCE?
Life and Health insurance.
HAVE YOU EVER MADE A CLAIM?
No, I have not made a claim.
REFLECTION
Through this project, I learned how important insurance is in
today’s world and how it can truly make a difference in people’s
lives. By comparing situations with and without insurance, I
realized that life is unpredictable, and unexpected events like
accidents, illnesses, or property damage can create serious financial
stress. Insurance acts as a safety net, protecting families from losing
their savings and helping them recover faster after a crisis. I also
learned the different types of insurance—life, health, vehicle, and
home—and how each serves a specific need. Most importantly, this
project showed me that while insurance might feel like just another
expense, it is actually an investment in security, stability, and peace
of mind for both individuals and families.
I think insurance is important for every family because it provides
protection against unexpected problems that could otherwise
destroy their finances. Emergencies like accidents, illnesses, or even
property damage can happen to anyone, no matter how careful
they are. With insurance, families don’t have to spend all their
savings or go into debt to handle these situations. It ensures that
children’s education, daily expenses, and future plans are not
interrupted by sudden financial shocks. Insurance also gives
families peace of mind, knowing that they are prepared for life’s
uncertainties. That sense of security makes it easier to focus on
living, working, and planning ahead without constant worry.