Insurance Planning & Risk Management
Do I need Insurance? I am fit n fine and enough wealth, why should I take insurance. This is one question most people ask themselves and the same excuse provides most of the times.
Life is full of uncertainty, Insurance is a shield which protects the financial interests of you and your family in case of unseen and unpredicted circumstances. For example, anything that ensures that your family will not have to pay the home mortgage if something happens to you, is insurance. No matter how efficient a planner you are, life is full of unforeseen events in which you might need cash; accident injuries, medical emergencies, car accident, home invasion, natural calamity, etc. Therefore, to make sure that you or your loved ones are prepared for such events you need insurance.
Think of the insurance as a tool to manage your financial risks in the future. We are living in an age where providing for your loved ones, even if you are not around, has become possible and so easy by just buying an insurance policy. In fact, ask yourself that do your old parents, spouse, children or younger siblings depend on your income? If the answer is yes, then you certainly need insurance, as simple as that.