Finance

    Insurance is a tool in compensating ones loss over an insurable interest for health, life, limb, piece of property like a car or a house.

    In this case, The Higgenbottom Family took great pains of precautions in planning and securing ahead their future vis-a-vis their present availability of resources. Hence, in choosing an Insurance Company or an Insurer for their house, they never considered the cheapest but they took consideration of the promise as a whole. As a result, of the fire or accident--they were properly and justly paid according to the terms and the conditions of the insurance contract.

    Nevertheless, it was sane and right to think and plan ahead of the loss of the father of the family the bread winner over which Sarah and their daughter solely is dependent upon. In which case, they were also and properly compensated lessening the burden of the loss of their bread winner.

    The situation in this case pictured the familys capacity to prepare or plan ahead of contingencies. And this is the rationale of the term  Insurance  or Risk Management. Meaning to compensate for the equal and given loss according to the value of the contribution as well as the insurable interest protected in the program.

    In the case at bar both insurance companies over Gregs life and the familys house were doing their job a great deal for it economically appeased the situation over the loss of an interest duly and properly protected and secured by the transaction of Insurance Companies.