Managing Some of Life’s Great Risks Through Insurance
In broad terms, insurance is a form of risk management. While there are myriad types of insurable risks, the authors focus on those personal risks that most commonly can disrupt or devastate individual and, by extension, family financial planning. Those risks are associated with health, life, property, and personal liability for negligent acts or omissions. The authors discuss key concepts and definitions related to insurance and then explore how best to analyze and utilize the following forms of insurance: health insurance, including through COBRA; disability insurance; life insurance, including term insurance and permanent insurance; long-term-care insurance; and property and casualty insurance, including personal excess liability and umbrella insurance.