Risk Management & Insurance Influences Personal Assessment
Having the right insurance coverage in place is the key to managing risk. When you buy insurance, you pay a relatively small premium, in exchange for which the insurance company assumes the bulk of responsibility for a loss. Thus insuring the things you value – including your car, home, furniture, electronics, health, and life – protects you and your family against unpredictable expenses.
In this training piece, how insurance helps control financial risk is covered in-depth. The different types of insurance policies are discussed, along with tactics to evaluate what coverage you need. We present information about choosing reputable insurance companies and agents and keeping your policies current. The last parts cover estate planning and how to prepare for disasters.