Financial risk management is about managing risk and deciding what insurance you need to keep yourself, your family, and your business (if you have one) protected. Kansas Money Coach works closely with you to help assess risk and determine what insurance is best.
Insurance: To Have or Not to Have?
Several areas of your life are critical to insure, including:
- Health insurance
- Identity theft coverage – including restoration services to recover if your identity is stolen
- Automotive insurance
- Homeowner’s or renter’s insurance – to protect your home and property in it
- Long-term disability – this may be covered by your company/employer
- Long-term care – for anyone age 60 and above, or earlier if anyone in your family has special medical conditions
- Term life insurance – a good general rule of thumb is to have 10x your annual income