Faith & Finance with Rob West
Proverbs 27:12 reads, “The prudent sees danger and hides himself, but the simple go on and suffer for it.” The word “insurance” isn’t in the Bible, but it does say that it’s wise to protect your financial holdings—and insurance is one way to do that.

The word “insurance” isn’t in the Bible, but it does say that it’s wise to protect your financial holdings—and insurance is one way to do that.
Insurance is a fundamental aspect of financial planning. For most of us, unless we have vast wealth diversified across numerous investments, insurance serves as a critical safety net. So, what insurance policies are necessary?
Auto insurance is generally required by law if you own a vehicle. Homeowners insurance is mandatory if you have a mortgage and advisable even if you don't. Bundling these two can save money, and adding an umbrella policy provides extra liability protection for a modest cost.
Renters insurance is often overlooked but vital for protecting personal property and covering liability. It's affordable, typically under $200 annually.
Health insurance is a must. Without insurance, the costs of medical care can be astronomical, making health coverage a crucial safeguard.

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Life insurance is necessary if someone depends on your income. Consider term life insurance over whole life, especially when downsizing your policy later in life.
Long-term care insurance is vital for those in their 50s and beyond. With most seniors needing some form of long-term care, this insurance can prevent financial ruin.
This insurance protects your income if you're incapacitated. Premiums are typically a small percentage of your annual salary.
By strategically selecting the right insurance policies, you can protect yourself and your family against unforeseen events while avoiding unnecessary expenses.
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