We are available to do this analysis for you and make any recommendations necessary to insure the completion of your financial plans. Many people are unaware of the concept of insuring your risks where needed while self-insuring themselves for the rest. Self-insurance is a nothing more than paying for the little losses you may experience yourself and leaving the catastrophic losses for the insurance company. In other words, paying your deductible . This concept applies to every type of insurance policy you may now own or be considering.
Lets look at automobile insurance for a moment.
We all have this kind of insurance policy if we own a car or at least we are suppose to. But, you can save big bucks if you self-insure yourself for as much as you can comfortably afford. You ll be amazed at the extra money you ll have in your pocket and your insurance company will love your too, because most of their claims are for much less. Take the time to look at your other insurance policies too. Your health insurance, your homeowners policy, your disability income policy, and even your long term care policy.