Insurance: What If...

You already know that insurance is a vital part of any complete financial plan. Insurance answers the question, "what if the unimaginable happens?" What is a permanent expense in my life? What is a transitory expenditure in my life?

Purchasing Insurance Just In Case

The answers to the questions above will assist in determining what kind of insurance you'll need.

For example; funeral costs are a permanent expense because they are always there. So you'll want to buy an insurance policy to cover funeral expenses. Your kids' education is a temporary expense, since eventually they will cease going to college. Another temporary expense is your mortgage.

A few other expenses to think about include: Care of elderly parents and the cost of an automobile

Many people avoid thinking about insurance. Don't be one of them.

Jeff Lakie is the founder of Insurance Resources a website providing information on Insurance

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