The Importance Of Financial Insurance

The Importance Of Financial Insurance

The Importance Of Financial Insurance – Insurance is a subject near and dear to me. Talking about risk management and insurance was one of the things that led me to start the Financial Magic Project and I cannot stress enough the importance of dealing with all kinds of unexpected and unwanted situations as well as losses. How important is protection from different types? . My rule of thumb is always, if you can insure something, do it. No exceptions, no excuses.

The problem with insurance is similar to financial planning and investment advice: the people who need it think they can’t afford it (or so they think). This is a recurring conversation I have with my friends who have young children.The Importance Of Financial Insurance.

The Importance Of Financial Insurance

The Importance Of Financial Insurance

“Now, you have two (or three) dependents on you. Have you purchased life insurance?” I ask them.

Is Your Life Insurance Enough Conducting A Needs Analysis

They replied: “Absolutely not! I can’t”. It breaks my heart because knowing what I know there is no way these people don’t have insurance. If they can’t afford whole life insurance or think it’s too expensive or unnecessary, they should. Get temporary insurance for a few years, often until the youngest child turns 18.

The Importance Of Financial Insurance

These are some difficult conversations to have with friends and clients. People feel uncomfortable thinking and talking about death, especially new parents who have just had their first child or offspring. As much as we want to live forever, we all know that unfortunately, it is impossible. We don’t know when we are going to die, but it is our responsibility to make sure it happens sooner rather than later to protect our loved ones and make sure they are ready.

If you think you can’t afford life insurance, go over your budget and see if you can reduce or eliminate some variable expenses while you can. If not, see if you can reduce your fixed expenses without giving up much of your lifestyle. Go somewhere cheaper, eat less, travel twice a year, travel once a year or have one car instead of two. If none of the above is an option, find a better paying job, another job or start your own business. Please do something because your loved ones are the most important thing in your life. You insure your home, your car and your driver’s liability, and it’s not as good as making sure your loved ones are covered for you if something happens to you.

The Importance Of Financial Insurance

Retirement Planning: What Is The Importance Of Life Insurance For Post Retirement Financial Security?

I plan to talk about insurance in more detail in the future. However, this is my recent experience when I was lucky enough to get insurance.

This example is not as impressive in terms of results, but it can still be used to illustrate the point. I had the MacBook Pro for two weeks when my evil cat decided it needed a bath. She was jumping, and normally, she is very careful, but this time she miscalculated her path. My cat jumped up, dropped a large cup of tea on my new laptop and choked on it. The cat was fine, which was most important to me. The tea was not hot enough to hurt him. However, my MacBook was a completely different story. I was very upset. The only saving grace was that I always bought insurance for my Apple products and had AppleCare Plus for my laptop.

Liquid damage cost me $129 CAD + tax to safely repair and two weeks without a computer while it was fixed. If I don’t have coverage, the repair will cost the same as buying a new one. Also, as much as I love all things Apple, I’m not willing to spend $2.0K-$2.5K CAD every two weeks on a new laptop.

The Importance Of Financial Insurance

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