Insurance planning is a critical component of a proper financial plan that includes evaluating risks and determining the proper insurance coverage to minimize risks. The principal goal of insurance planning is to identify and analyze risk factors in life and seek proper coverage to attain a peace of mind if disaster strikes. The chances of recovering partly or fully are assured by having an insurance plan set in place.
We all have insurance to protect our homes and vehicles of which have a small chance of being damaged or destroyed. We have a 100% chance of dying – Do you have insurance for that?