Even leaving the house on a cloudy day without an umbrella is a risk. Proper risk management is essential to securing your financial future. This means effectively using insurance to protect against those things that would significantly impact your financial future if they occurred. Managing Risk With Life Insurance Insurance is the means by which you secure protection for yourself and your family against unforeseen circumstances. Auto insurance helps protect you from financial loss on an automobile due to accident or theft.
Health insurance provides financial support for medical-related costs.
Life insurance, on the other hand, was initially designed not to protect the insured, but rather to protect those left behind by the insured when he or she died. However, life insurance has evolved significantly over the years to also provide financial protection to the insured during his or her lifetime as well. The values that accumulate in permanent life insurance can provide for you and your family in the event of an emergency, or when funds are needed for things such as college tuition, a mortgage down payment or retirement income. Do not underestimate the importance of life insurance. You could deny yourself and your family thousands upon thousands of dollars of insurance coverage if you opt not to purchase life insurance.