Risk only means the possibility of loss and damage .
The damage may or may nto happen .
The earthquake may occur but the building may not have been efected at all . Insurance is done
against the possibility that the damage can occur .
There has to be an uncertainity about the occurence of an event . The word 'possiblity' means
uncertainity .
Insurance is relevant only if there are uncertainities. If there is no uncertainity about the
occurence of an event ,it cannot be insured against.
In the case of a human being , death is certian , but the time of death is uncertain .
The person is insured because of the uncertainity about the time of his death .
In the case of a person who is terminally ill , the time of death is not uncertain , though not
exactly known , It would be coming soon . So he cannot be insured.