Insurances You Need to Protect and Preserve Your Legacy
Legal Planning, and specifically Estate Planning, is one of four areas you need to focus on to protect and preserve your Legacy.
Insurance Planning is another.
Insurance is about shifting risk. Without insurance, you take on all the risk if something happens. For example, if you become sick, are in an accident, your house burns down, or you pass away. With insurance, you shift some of the risk to an insurance company so that, if something happens, the insurance company covers the losses you can’t afford to handle on your own.
You can purchase insurance for just about anything, but the big ones you can’t afford to be without are:
- Auto Insurance
- Homeowners/Renters Insurance
- Umbrella Insurance
- Health Insurance
- Long-Term Disability Insurance
- Long-Term Care Insurance
- ID Theft Protection
- Term Life Insurance
Let’s explore how each of these types of Insurance protects your Legacy: