A customer says," Insurance is a waste if money.If and when I suffer a financial loss because of an accident or somr other event, I can pay for it from my savings account. As an insurance agent your primary goal is to change this kind of mindset,how would you persuade this person to purchase insurance? Design a strategy.

2. At 30,Alyssa Valdez invested P50,000 in a time deposit which earna 3% per annum.With the same interest rate,how much would her earnings be at age 35 if she reinvest the interest with the principal.Show your solution.