When it comes to insurance, there’s a lot to know. The key is to get just the coverage we need and avoid paying for unnecessary frills.
Some final thoughts:
Some older consumers look back and say, “I paid for life, disability, and property and casualty insurance for decades. I never used any of it. It was all a waste of money.”
You may not use all of the insurance purchased in your lifetime, but since you don’t know in advance whether any will be needed, and since the downside can be devastating to your family or business, it’s highly advisable to obtain appropriate coverage.
The alternative, should disaster strike, is that one or more of your Pillars of Wealth may be severely compromised, leaving you or your loved ones exposed.