Filling The Gaps With Insurance
Week 1-Insurance:
Transferring Risks
Each of us is exposed on a daily basis to various risks in
our lives. We recommend you periodically
conduct a risk analysis (a) to identify the risks to which you are exposed and
(b) to determine for which of those risks you want to self-insure and for which
you want to transfer the risk to someone else by purchasing insurance. You may want to utilize a insurance
professional or a certified financial planner in this process.
The most common areas of risk exposure are:
- Legal
liability – we live in a litigious society
- Vehicle
accidents
- Damage
to house and other personal property
- Major
illnesses
- Physical/mental
disability
- Loss
of life
- Aging
and personal care
Effective Christian financial planning includes periodic
risk analysis and filling the gaps with insurance.
Prayer Focus: Ask the
Lord to lead you to the qualified professional who can assist you in analyzing
the risks to which are you exposed.
Next Week: Primary
Types of Available Insurance
The information in this article is provided as general information and is not intended as legal or tax advice. For advice and assistance in specific cases, you should seek the advice of an attorney or other professional adviser.
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