When you are planning for your future, what do you think about? You may think about your retirement, enjoying having the time and money to take trips and pursue your interests. Maybe you think about your home, and enjoying the feeling of stability that can come with home ownership. In making these plans, people often find that their
That said, life also involves
Did you know that:
- Sixty-eight percent of American workers have no long-term disability income protection,[i]
- Roughly 70 million Americans aged 18-38 have no life insurance,[ii] and
- About one in eight drivers is uninsured?[iii]
If you ask a homeowner, replacing a roof is probably the least satisfying expense he or she will ever face. While the value of such an investment is obvious, it doesn’t quite provide the satisfaction of new landscaping. Yet, when
Insurance is a lot like that roof. It's not a terribly gratifying expenditure, but it may offer protection against the myriad of potential financial storms that can touch down in your life.
The uncertainties of life are
Similarly, your inability to earn a living to support yourself and your family due to death or disability can wreak long-term financial havoc on those closest to you.
Insurance exists to help protect you from these forms of wealth destruction.
Some insurance (e.g., home or car) may be required. When it isn't (e.g., life or disability), some individuals may be tempted to avoid the certain financial “loss” associated with insurance premiums and assume the risk of much larger losses that are less likely to happen.
But insurance premiums aren't a financial “loss;” they are designed to help protect you and your family as you build personal wealth. Keep that in mind as you consider your coverage options and make decisions about your future; it’s possible that you are making a decision that could affect the rest of your life.