Insurance planning is the process of evaluating potential risks in life and taking appropriate measures to mitigate those risks by purchasing insurance coverage. The goal of insurance planning is to protect yourself, your loved ones, and your assets from financial losses that may arise due to unexpected events or circumstances.
Insurance planning is an integral part of overall financial planning. By having the right insurance coverage in place, you can gain peace of mind knowing that you and your family are protected against unforeseen events that could otherwise have severe financial consequences. Consulting with an insurance advisor or financial planner can help you navigate the complexities of insurance options and tailor a plan to your specific needs.