The purpose of insurance is to protect against loss. The policyholder pays a premium to minimize the results of this loss. There are many different types of protection. Health, automobile, and life are just a few examples.

Insurance comes at a cost and the advantages of having it may never be fully realized. A driver may never get into an accident or a homeowner may never need to file a claim. With regular premiums, there is also a possibility the money paid could be more than the benefits it pays out.

Not many people like to talk about insurance. This is especially true when it comes to life policies. The fact is we all need protection against financial catastrophes. You will never think you need it until something requires it. Insurance is just an added expense that everyone must have in their financial plan and budget.