A sound financial plan will encompass both wealth creation and wealth protection. Insurance shifts the financial burden from you to the insurance provider who can afford to protect you because of the pooled premiums paid by their customers. Put simply, insurance is there to provide you with protection against the financial impact of an event such as death, disablement, serious illness or injury.
Types of Insurance
There are a range of insurance options available that can be tailored to suit your needs and personal situation. The most common types of insurance include: