- Insurance may be a highly misunderstood product and it’s often bought and sold for the incorrect reasons.
- But at an equivalent time, it’s a really important part of your life and you want to know certain ground rules for creating the proper decisions within the New Year.
- Any folks consider insurance just another investment for tax saving purpose.
- But Insurance may be a financial risk management tool during which the danger of the insured transfer of potential loss to the insurance firm that mitigates it in exchange for monetary compensation referred to as the premium.
- As you recognize, our day to day life is filled with unpredictable risks.
- For instance loss of life, loss of job and income, critical illness or disability, etc.