The Role of Insurance in Risk Management

Most homeowners, for example, see the value in paying relatively small premiums on their homes in order to protect against the damage or loss of these highly valuable assets. 

When it comes to health or life insurance, however, some people simply don’t like to consider their own health or mortality.  They prefer to think such issues need only be addressed in the more distant future.  While this optimism is understandable, it remains important to protect one’s ability to earn an income, to pay bills, and to save towards one’s goals.

Temporary health issues, such as the inability to work for a period of time, have a way of turning into longer-term financial issues.  Yet there is a natural tendency for some people to underestimate the need because they want to keep a positive focus.  My role as a financial advisor is to challenge these notions and assumptions to be certain a client is well prepared if problems arise.