The place and time period of the first few years of most people's lives have a great effect on the formation of values.

The value is formed by the the particular belief related to an idea or behaviour.

Explanation:

The values are the principles, standards or qualities of an individual or group of people hold. They are our own words, thoughts or actions. It is very important because they helps us to grow and develop. the decisions are made based on the values and beliefs.

The values comes from various sources such as family, workplace, educational institution, music, media, technology, culture and so on.

The most important common values are integrity, respect, excellence, responsibility. The values mainly focuses on the person's behaviour and attitude in all situations.

(a) when insurance is obtained through a reciprocal insurer, the insureds are sharing the risk of loss with other subscribers of that reciprocal.

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