Insurelancing

The Story of Insurance; Let us now understand, “how does insurance work?” through a simple story involving two of our favorite characters from childhood – Akbar and Birbal.   ----------   Situation:  A group of villagers once barged into Emperor Akbar’s court and started creating a huge uproar. When asked what the issue was, the village chief revealed that a wild fire had swept through their village and had burned several homes to the ground.    “We have come to ask for a solution, Your Majesty,” said the chief. Our village experienced a flood two years earlier that washed away many homes. A single calamity like this exhausts all our resources and we have nothing left to rebuild our homes!”    After a moment’s thought, Akbar asked Birbal if he would like to suggest a solution. Birbal replied, “Give me a day’s time, Your Majesty.”    “Granted! Tomorrow, we shall all gather here again at noon,” exclaimed the Emperor and left for his chambers.    The next day, the villagers returned. Eve

Illustration; Let us now understand, “What is Insurance and Why have it?” through a simple illustration with examples running in the video.   ----------   Video timestamp - Transcript: 00:01 what is insurance and why have it? life's 00:05 full of surprises 00:06 your friend suddenly has a spare ticket 00:08 to see your favorite band that couple 00:10 whom you think we'll never get engaged 00:12 actually do and John finally buys a 00:15 round of drinks 00:16 but what if life's little surprises 00:18 aren't so great like breaking your 00:21 favorite phone 00:22 or something far more serious the 00:26 purpose of insurance is to protect 00:27 people from uncertainty of the future 00:29 when things don't go to plan or when we 00:32 need support for our life projects and 00:34 finally to give us peace of mind for 00:37 whatever's around the corner here's an 00:39 example Paul and Dave and neighbors Paul 00:42 decided to buy