It’s beyond your power to prevent unexpected happenings but within it is your reach to acquire the proper protection. Insurance intends to safeguard you financially. While insurance experts will tell you to have it all, your availability of resources may not permit.
Regardless of how healthy you are, skilled as a driver, or financially buoyant; we are all just one incident from being exposed. Therefore, you need insurance as a safety net to protect you, your loved ones, and your business when the chips are down.
Life will throw a curveball at you, no doubt about that. Here’s how to get ready for the inevitable;
1. Life Insurance
Your family does not deserve to be left with nothing in case you die an early death. Imagine your family dealing with the pain of your death and still grappling with the possibility of newfound poverty due to your death.
Today, the is about 54% of Americans with life insurance coverage. Will
, your family , be able to afford $11,000 in funeral costs? , and And who will pay for your existing mortgage, expenses and/or student loans. If you genuinely care about your loved ones, having life insurance is one way to show the love.
2. Health Insurance
Healthcare in the United States is quite expensive. Without the appropriate coverage, you can be one illness away from being broke. On average, a three-day stay in the hospital could see you spending about $30,000, depending on the care provided. This leads many people to bankruptcy.
Do you know that 66.5% of bankruptcies filed in the US are due to medical expenses? This could be avoided with the appropriate coverage. Insurance should be your shelter, not bankruptcy. There are many ways low-cost alternatives to being uninsured.
3. Liability Insurance
This is to protect you against financial loss if your action, negligence, or the condition of your property causing any form of harm to someone else.
With liability insurance, you are covered against two significant financial risks; the cost of defending a claim and the compensation that you may be directed to pay the affected party. This protects you personally with your home & auto as well as your business.
If you are currently uninsured, consider purchasing insurance today. These three are a good start. You may have to talk to an expert insurance advisors to better understand what you need as coverage
You may have to talk to an expert insurance advisors to better understand what you need as coverage.