Protect Your Assets–Health and Life

We do our best to get the most out of each day by making healthy choices, working hard, and taking care of ourselves and those around us we love. Sometimes, regardless of how careful we are accidents, illnesses, and even death can occur at any time. Our ability to earn an income and contribute to society is very important.

Protect Your Assets–With House and Renters Insurance

There are as many advantages to owning a home as there are to renting one. Regardless of which method we choose to provide shelter we need to protect the asset.

As a homeowner, the asset that generally needs protecting is the house and the contents. A basic house insurance plan usually covers damages as a result of such things as fire and vandalism. However, if the owner of the home is renting the house, then the renter would have coverage that protects their personal content from things like fire and vandalism. The renter would not normally be responsible for having insurance on the house.

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Protect Your Assets–And Control Auto Costs

Most insurance companies believe that drivers under the age of 25 are more likely to be involved in an accident than those over the age of 25. As a result, drivers under the age of 25 are often charged more, (higher premium) to have the same coverage as those over 25.

Looking for ways to lower auto costs? Click Here

Protect Your Assets–With Auto Insurance

Auto insurance protects us against the financial loss we can experience by having a car accident or having a car stolen. Accidents can be as minor as a scrape in the paint to a complete loss of the vehicle. Most often when we purchase auto insurance, the policy (contract between us and them) consists of three parts: protection for the physical damage to the vehicle, protection of the people inside, and protection in the event we are responsible for the other vehicle.

Most auto insurance contracts are purchased with a deductible clause. A deductible is the amount of money we have to pay before the insurance company pays for the repairs or loss. Often the higher deductible we select the lower the premium payments we have to make.

Want to know the difference between Public vs Private Auto Insurance Click Here

Looking for more information about auto insurance? Click Here

Protect Your Assets–Insurance 101

Often a great deal of time and effort are spent on achieving our goals and visions. Sometimes, regardless, of how hard we work, and how well we plan, events occur that force us to take a detour on our vision quest. These detours can cost us a substantial amount of hard earned money, time, and energy, that may force us to either alter or cancel our vision quest.
 
One way we can protect ourselves from certain financial losses is to purchase insurance. When insurance is purchased the financial risks we may encounter as a result of such things as illness, death or damage to property is transferred to a company in exchange for a payment. The insurance company promises to payout an insurance claim when a predetermined event, such as a natural disaster, trip to the doctor, or a car accident occurs.

The two most basic forms of insurance are general and personal. General insurance, which insures such things as houses and other forms of property, promises to repay all or a portion of the cost to replace what has been lost as a result of fire, theft, or other loses. General insurance also helps offset the legal cost that could occur if legal action is taken against us.

Personal insurance, on the other hand, promises to replace the loss we may encounter when we become ill or injured and cannot work. Personal insurance covers such things as our life and health.

Learn How to Build Wealth Volume 4–Running a Business

Running a business has many rewards and challenges. As an owner we often wear many hats ranging from office manager to chief executive officer. Because of our diverse responsibilities managing time can be somewhat tricky. One way to be efficient with our time is to develop a default calendar.

Looking for more information about running a business? Click Here

Learn How to Build Wealth Volume 4–Buying a Business

As we found in the previous activity it is possible to start a business with little or no up front money. Another option is to buy an existing business. Some would say this is less risky then starting a business from scratch, while others would say it is riskier because it requires making a financial commitment.

Want more information about starting a business? Click Here

Learn How to Build Wealth Volume 4–Owner’s Responsibilities

Learn How to Build Wealth Volume 4–Being the Boss

Protect Your Assets–Introduction

Course Overview

Protecting the financial costs of replacing the assets we have worked hard to acquire provides many with a peace of mind.  Purchasing  insurance provides the financial support and reduces the uncertainties in the event we should suffer a premature death, become disabled, critically ill, or need medical services.   Insurance also provides coverage against any sudden loss due to such things as fire, theft or accidents.

Within this course students will discover how to use insurance to protect their assets without overspending.  Upon successful completion of this course students will be able to understand the purpose of insurance and risk management by learning;

Course Outcomes

After completing this course, students will have learned:

  • Consequences of being under insured.
  • To identify common types of insurances.
  • To reduce the cost of insurance.
  • Information regarding owning and operating a vehicle.
  • How insurance and other risk management strategies protect against financial loss.
  • The impact on individual development and decision making when faced with challenges due to death or illness.
  • The importance of risk management planning.