Our March discussion for our Women of Wisdom (WOW) was on Insurance: Friend or Foe?
We all take pride in caring for our families by protecting them from harm and providing for their needs. We are there every day for them whether it is taking them to doctor’s appointments or celebrating huge milestones with them. However, what happens if we are not able to be there for them? Who will continue to care for them if we become disabled or die? Who will protect or care for them if we no longer can? The topic of insurance can be daunting and something many tend to avoid. However, typically it is not until something happens to someone in our family that we realize what insurance we have or most importantly if we have enough.
Insurance is a way of managing risks. When you buy insurance, you transfer the cost of a potential loss to the insurance company in exchange for a fee. Insurance can help with life events such as maintaining your current lifestyle if you become disabled, providing for your family in the event of a death or covering health care costs. When we think of insurance usually life insurance, disability insurance or health insurance is what comes to mind. However, property and casualty insurance is also important to have because it protects the stuff we own such as our car or home. Also, it can help provide us liability coverage if we are ever responsible for an accident that injures another person or their belongings. We never like to think about what if something happens to us, but it is so important that we discuss it so our families are protected.
Please let us know if you would like to schedule an appointment to review your current insurance coverages and needs.