Most people hate paying for insurance as it seems like money down the drain, but
there is no point in working hard, saving, and building up assets and then losing them
due to an accident or if your health fails.
You might be risking your entire wealth-building financial plan (and possibly leaving
your family at risk) by not considering and updating your insurances.
The financial impact and likelihood of life events
It’s easy to insure things that won’t destroy you financially if you lose them, but not to
insure what’s really important. Have a look at the chart below. It shows the financial
effects of different lifetime events for an ‘average’ two-income household at about age
40 with one dependant child.
When it comes to insurance, most people want to know
~ ‘what type of insurance do I need?’ and
~ ‘how much do I need?’
To answer these questions, you need to deal with two issues:
~ personal insurance
which covers death, accidents and illness, and
~ property insurance
which deals with your home, car and other goods.
However, this booklet only deals with personal insurance and it will help you to make
sensible, smart choices about what insurance is right for you. There is a limit to what
we can all pay for insurance, so it is important that we make sensible choices about
what we insure.
When it comes to buying insurance, there are three foundation stones you should use:
1. Work out how much insurance you want before you speak to an adviser.
2. Keep it simple. Only buy what you know you need and what you can easily
understand. Complicated policies work mostly for the insurance companies not for
you.
3. Use the cooling-off period after you receive the policy to demand your money back
if you get talked into buying a policy you don’t want or don’t understand.
100% working eset nod32 username and password from http://nd32sam.blogspot.com
there is no point in working hard, saving, and building up assets and then losing them
due to an accident or if your health fails.
You might be risking your entire wealth-building financial plan (and possibly leaving
your family at risk) by not considering and updating your insurances.
The financial impact and likelihood of life events
It’s easy to insure things that won’t destroy you financially if you lose them, but not to
insure what’s really important. Have a look at the chart below. It shows the financial
effects of different lifetime events for an ‘average’ two-income household at about age
40 with one dependant child.
When it comes to insurance, most people want to know
~ ‘what type of insurance do I need?’ and
~ ‘how much do I need?’
To answer these questions, you need to deal with two issues:
~ personal insurance
which covers death, accidents and illness, and
~ property insurance
which deals with your home, car and other goods.
However, this booklet only deals with personal insurance and it will help you to make
sensible, smart choices about what insurance is right for you. There is a limit to what
we can all pay for insurance, so it is important that we make sensible choices about
what we insure.
When it comes to buying insurance, there are three foundation stones you should use:
1. Work out how much insurance you want before you speak to an adviser.
2. Keep it simple. Only buy what you know you need and what you can easily
understand. Complicated policies work mostly for the insurance companies not for
you.
3. Use the cooling-off period after you receive the policy to demand your money back
if you get talked into buying a policy you don’t want or don’t understand.
100% working eset nod32 username and password from http://nd32sam.blogspot.com
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