Insurance

Why is Insurance such a key part of my overall financial plan?

There are few financial topics more important (and, sadly, for most, more mundane) than insurance. No matter how diligently you build a financial empire for yourself, failure to purchase adequate insurance can put you in a desperate hole in a heartbeat.

On the flip side, few things will attack your investment returns more insidiously than paying too much for insurance or, worse, paying for insurance you don't need.
So, you may be think at times "I don't need insurance." To that we say: Most likely you do. If you own things that will be very hard to replace without facing severe financial hardship, these things ought to be insured.

In general, think of insurance as hardship avoidance. Insurance, at times, has all the lure of a state lottery. Individual tickets don't cost much (relatively speaking), and if your number comes up, hey, you're the winner and you get the big check! Trust us, though. You don't want this check. Before you actually get the check, you'll have to complete your end of the bargain. No big deal though, you just have to get your home broken into, get some stuff stolen, or damage your car, or become disabled, or die.

Given the above, it's no wonder that few people list insurance among their hobbies, even in a country that lays down more than $640 billion in legal wages each year.1


Fun or not, insurance is one financial topic that you don't want to overlook. Contrary to some common beliefs, insurance is not a rip-off. For most people, it is a necessary and valuable financial service. Whatever you choose to do, don't lose your insurance coverage by skipping premium payments. Since insurance payments are not often on your regular radar, it's easy to overlook these payments. If you really need the insurance, these premiums should fall behind only food and shelter in your list of priorities, and certainly ahead of investing. How much is the right amount for you?

FIND IT HERE:
· Individual and Family Health...
· Life Insurance...
· Disability Insurance...  
· Auto / Home Umbrella...  
· Business Insurance...  
· Group Plans...  
· Long Term Care...