Insurance - An Investing Perspective

By Chris Mills


View all articles by this author

Investors don’t usually think of insurance as part of their investment strategy, but they should.

An individual’s insurance needs change over the years. In the past decade, insurance products have become increasingly innovative in the number of ways these needs can be accommodated. Specialized health care and illness insurance as well as wealth and estate planning insurance options enable investors to protect themselves during their lifetime. Additionally, insurance can offer legitimate ways to maximize retirement savings and minimize estate tax liability.

Insurance becomes part of an investment strategy when it protects you against loss of health or income.

It can also protect your ability to save and invest for the future. From an investor’s perspective, the type of insurance you buy can be determined by asking the same basic questions you’d need to ask regarding any investment decision: Will it have real value when I need it? Do I understand what I’m buying? And what is my “return on investment”?

Various kinds of health and care insurance are of growing investor importance. Disability and critical illness insurance can be of real value to investors building a savings or investment portfolio and who need some protection from premature withdrawal of funds as a result of a prolonged illness or disability.

Insurance can be an important part of any investment strategy, especially if it means you’re able to sleep better at night. Investors need to be perfectly clear on how their insurance protects them, and the conditions and terms under which they can expect to make a successful claim.

During the financial planning process, your focus on insurance products will prepare and protect you and your family for the future.

This article has been viewed 22 times.


Post A Comment




Comments that include profanity, personal attacks, or antisocial behavior such as "spamming," "trolling," or any other inappropriate material will be removed from the site. We will take steps to block users who violate any of our "terms of use". You are fully responsible for the content you post. Senior Living takes no responsibility for the views and opinions of members using this discussion area.

Submit Articles

Current Issue

Search For Articles

  

Subscribe To
The Magazine