Using Insurance to Reduce Personal Financial Risks – Part 2

Using Insurance to Reduce Personal Financial Risks – Part 2

This is a continuation of our article series that began with How to Manage Personal Financial Risks, where we explored the various financial risks individuals are exposed to, and the approaches you could use to manage those risks. In the previous article Using Insurance to Reduce Personal Financial Risks – Part 1 and this Part 2, we are focusing on the role of insurance in managing and ultimately reducing our various risks. For clarity, it is not our

Using Insurance to Reduce Personal Financial Risks – Part 1

Using Insurance to Reduce Personal Financial Risks – Part 1

You may remember from the previous article How to Manage Personal Financial Risks that, as individuals, we face several types of financial risks, and we can take many actions to manage or reduce these risks. One of the more important tools we have available is transferring the risk to an insurance company. In this article and Part 2 we’ll take a more in depth look at the role of insurance in reducing risk. Learning how to manage the risks

How to Manage Personal Financial Risks

How to Manage Personal Financial Risks

Life is full of risks and we all adopt active or passive approaches to manage the risks that we face, even if we may not realize it. In this article, we will examine the types of risks we face and the different methods we can use to manage them. We are restricting the types of risks to personal financial risks i.e. we are not addressing business or commercial risks. A financial risk exists if we

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