Insurance plays a critical role in providing financial protection and peace of mind for individuals and businesses. Though no one wishes for adverse events like illness, accidents or property damage, being properly insured allows for greater financial security and stability when the unpredictable occurs. The various types of insurance each help safeguard against specific risks and vulnerabilities we all face.
While insurance comes at a cost through regular premiums, it returns invaluable benefit when emergencies arise. The shared risk model gives people confidence that they have resources to tap into rather than facing fiscal devastation alone. For all these reasons, making insurance a part of one’s financial planning is a wise choice that provides that extra peace of mind we all desire. The old adage rings true – better safe than sorry.