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Closed community self insurance

Closed community self insurance is all about the small communities living together in foreign countries. These communities which belong to one sect of group would like to solve all the problems by collecting funds for self-insurance purpose. This will save lot of time for the community and it also help the community to be safe from all hazards. Mostly, when people of community gather together in foreign countries, their motives, intentions and interests would be good with the fact that there is maintenance of proper order and discipline in small communities. Further different cultures, traditions and customs also will help them to stay together and they will definitely think about community self insurance. For instance, if their automobiles are out of condition, these are repaired with the medium of self-insurance funds and there is mostly, few people which are funding to this facility. It is not clear whether this is prevalent now
but in the previous this facility was mostly in use with the fact the small community groups were of the opinion that disasters should be  managed by self and they should not be approached to insurance companies for seeking claim. Therefore, people who can fund plenty of money for disaster management or for any other repair work initiate their process for getting the repairs done and at this time,  most of the repair work is completed successfully and smoothly for the benefit of the local residents. This can be stated that this is one kind of benefit to local communities as it develops spirit of oneness and also ensures how to stay away from disasters and how to  manage disasters. This being a very important subject area, lot of good can be done both to the property and for the consumers.

Although this system was prevalent in the society, it now not very clear, whether this system is under practice and the fact that it is benefiting the people who live in community in many nations as foreign nationals. This has to be considered for good, as foreign nationals work in their capacity to earn quick money and to make a family.
When the local residents are genuine and honest, every help should be given and every support should be made.

There are many religions in the world and there are many communities which follow different practices of tradition, customs and cultures.  When it comes to the matter of practice of different traditions, people do not like to move away from their regular practices and would always be willing to stay with the community. Therefore, community insurance if implemented will help the people to draw maximum benefit in the form of disaster management or managing any calamity that was expected. With the funds of community insurance, many people within the society can derive a collective benefit and this helps to live in safety and security.  While other society is practicing individual insurance policy holders, a different sect of community is practicing community insurance. Being not very clear whether this is still existing, it is expected that some of the foreign nationals, still endeavor to maintain this type of insurance.

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