There are fundamental “protections” that should occur within our financial plan before we ever start thinking about long-term savings and investments.
For example, if you do not have health insurance and heaven forbid you get cancer, your great investment portfolio highly likely to be gone.
Insurance is a transfer of risk. Our goal is to transfer the risk of the catastrophic from our own portfolios to an insurance company and spread the risk out amongst many people trying to do the same thing.
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Content in this material is for general information only and not intended to provide specific advice or recommendations for any individual. Insurance guarantees are based on the claims paying ability of the issuing company.
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