Module 12: Insurance- Protecting Yourself and Your Assets

Insurance is a contract between the insured party and the insurance company that the insurance company will financially compensate you for any losses in exchange for your policy payment or premium. The main types of insurance that most people buy include automobile insurance, health insurance, life insurance, and property insurance. Other types of insurance exist to protect insured parties from accidents and lawsuits.

When purchasing insurance be sure to choose the appropriate coverage and correct deductible to meet your financial needs, taking into account all of the different factors in your life. There are a number of factors that will affect how much you pay for each type of insurance, for example, if you have a lot of speeding tickets, your car insurance will be higher. Remember that a poor credit history can also mean that you might have to pay higher insurance premiums.

Estate planning is an important task to ensure that any financial or material assets that you own are taken care of in the event of death. Make sure that you have the legal documentation to ensure that your assets are distributed according to your wishes.

Please take this brief online survey to provide feedback about the course.