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Insurance, at its core, is just a way of managing risk. Life has a way of throwing unexpected curves, so it's important to ensure your financial health isn't interrupted by things that can't always be foreseen. Although wants to expect the worst to happen, we still need to be prepared to handle life's emergencies in a way that will not risk your finances and assets. Many companies offer disability and life insurance as optional or included packages with employment. If available, these are usually good choices, not only because they provide a guarantee of income or payout in the event of a catastrophe or health problem, but they are also often subsidized in part by the employer.
Other kinds of insurance are beneficial as well for the larger assets, including car insurance, which in most locations is mandatory by law, house insurance, which can not only protect the home itself but it's contents such as appliances, electronics, and heirlooms. Most forms of financing can also be insured as well, which can help to either continue to make monthly payments or even pay out the balance in case of the death of a spouse.
Insurance can also be looked at as a long term savings strategy - in many countries, it can provide the equivalent of a tax shelter in your higher earning years and allow you to draw from the balance after your retirement when your income tax rates are much lower.
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