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Insurance: It's all about you + your stuff

This is part of our Big Six series. We're digging into the six big areas of money and financial planning.

Insurance is there to cover things that are infrequent, but have a big impact.

Watch this video:​

Insurance for You

Things that cover 'you' would be health insurance, disability, and life insurance.

They're all about helping you financially if something happens to you and your health.

They can all be important depending on what stage of life you're in. Health insurance is probably the most important from a financial standpoint.

Insurance for Your Stuff​

The other types cover your stuff. That would be homeowner's insurance, renter's, car insurance and similar.

I'd also put liability insurance in there. That covers you being sued by someone else.

So, what questions do you have about insurance?

Leave it below and I'll answer.

Cheers!

Tommy Sikes​

  • Perhaps oddly, this is the first time I’ve heard anyone say that disability insurance is a must-have. Would you say that most workers have it?

    • Most workers have some minimal disability through their employer. Usually not enough.

      You’re more likely to be disabled than to die prematurely. So disability > life ins, if you have to pick. That’s the reason I said it that way.

      Of course, if you own a business with recurring income (and someone to run it), you don’t need disability. It’s kind of built in!