Insurance safeguards your assets, family, and health. In the event of an accident that causes damage to your vehicle or injures others, as well as in the event that your home is damaged or your belongings are stolen, an insurer will assist you in paying for any routine or unanticipated medical bills or hospitalization.
In the event that you pass away, an insurance policy can even provide a one-time cash payment to your heirs. So, protection can offer inner harmony in regards to unexpected monetary dangers.
Is insurance a security?
Permanent or variable life insurance, depending on how it is used, may be considered a financial asset due to its ability to accumulate cash value or be converted into cash.
To put it simply, the majority of permanent life insurance policies allow for the accumulation of cash value over time.
The Bottom Line: Insurance protects you and your family from unanticipated financial costs, debt, and the possibility of losing your assets.
Insurance protects you from costly lawsuits, injuries and damages, loss of life, and even complete loss of your vehicle or home.
