Insurance Planning

Insurance planning is to protect yourself, your family and loved ones, your home, your assets, or your business against unexpected events that may bring financial burdens. The idea behind insurance is to get a group to contribute financially to a fund specifically designed to help individuals recover in an unexpected loss or damage. Insurance planning is a critical component of a comprehensive financial plan that evaluates risks and determines the proper insurance coverage to mitigate those risks. In other words, insurance is an economical device that transfers risk from an individual to a company and reduces the uncertainty of risk via pooling.