When you buy an insurance policy, you are transferring the risk of a potential financial loss to the insurance company in exchange for a fee. The insurance company, in return, promises to provide you with financial assistance if you face an unexpected loss.

Insurance coverage should be a key component of anyone’s financial planning. We all work very hard to secure a bright future and afford a lifestyle that we can enjoy. As we keep working towards our financial goals, we must not forget to protect what we have already achieved.