Showing posts with label Insurance. Show all posts
Showing posts with label Insurance. Show all posts

Why is Insurance Essential in Terms of Financial Planning?

Why is Insurance Essential in Financial Planning? Risk is everywhere, there are some we can prevent but mostly are unpredictable. I know you already heard of the word 'insurance'. For younger generation insurance is not yet a big deal or let me say some just ignore it. When we become older, having families and getting weaker that's the point we are interested in insurance, some are even had regrets of not getting an insurance. There are some who are already aware of the term insurance, there are actually a lot of types of insurance that an individual should have. Every insurance have its own function that will suit every persons needs.

What is insurance?

According to Investopedia " Insurance allows individuals, businesses and other entities to protect themselves against significant potential losses and financial hardship at a reasonably affordable rate. We say "significant" because if the potential loss is small, then it doesn't make sense to pay a premium to protect against the loss."

In this post, I round up the importance of getting an insurance and why we need to get it.
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