INSURANCE

Many believe they can easily replace their belongings if something goes wrong. But often, the costs after accidents, disabilities, or a loved one’s passing can surpass our savings. That’s why INSURANCE plays a vital role in financial planning.

Getting INSURANCE is smarter economically than using your savings for expensive losses or damages in the future.

What is INSURANCE?

INSURANCE is a way to manage risk by sharing it with experts known as INSURANCE companies. They spread the risk across many people or businesses. INSURANCE can help you handle unexpected events like theft, sickness, or damage to your belongings. If you get INSURANCE for something you own, the INSURANCE company will give you money equal to its value if it gets lost. You can also buy life INSURANCE to look after your loved ones when you’re gone.

Why Do I Need INSURANCE?

INSURANCE shields you from financial loss in case of surprises. Accidents and disasters can happen, and without enough INSURANCE, they could leave you in a tough spot. When you purchase INSURANCE, you pay a fee, called a premium, to the INSURANCE company. They invest this money wisely so it can grow and be used to pay for claims when needed. Deciding on INSURANCE depends on your situation and where you are in life. Examples of INSURANCE include:

• Car INSURANCE:
  • This pays for repairs if you have an accident or gives you money if your car is stolen. It also covers damages to others.
• Life INSURANCE:
  • This provides money to your family when you pass away.
• Property INSURANCE:
  • This pays for repairs if your property is damaged by things like fire, as outlined in the policy. You can get INSURANCE for homes and businesses.

Having INSURANCE offers peace of mind, knowing you’re financially protected from unexpected events.