Insurance as a kind of charity

I was roughly told about the beginning of insurance by an insurance agent. It was about risks in the transportation of cargo. Some how, a group of people pull together a combined fund to compensate the unlucky ones who lost their cargo due to unforeseen mishaps. Thus, it provides a kind of assurance to businessmen if and when these tragic situation arise. Subsequently, the concept and mechanism of insurance started to apply to more things and events, such as home insurance and car insurance, and even life insurance.

So, I consider insurance as a kind of charity that helps those, including possibly ourselves, who might become unfortunate in the future by many people each putting a small amount into a fund. Quite similar to charity, where many people each contributing some amount for a particular group of already unfortunate ones, usually they will not be one of them.

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