https://www.youtube.com/watch?v=sHtxT74llfU

Throughout civilization, people have created tools to transfer risk, protecting themselves from negative circumstances.  This is the core function of insurance: to transfer risk.  It’s what makes insurance not only something you want but something to love.However, many people have a misguided and negative view of insurance, being inadequately insured or uninsured altogether.  As a result, they live with more worry, fear, and doubt because of the possibility of loss.  Consequently, they limit their potential.Let’s open up the dialogue and approach the topic from an abundance perspective, to learn why the wealthy value protection, and why you should too.

Spoiler alert: it’s because the benefits of protection extend far beyond the coverage itself.

Where Transferring Risk Fits into Your Whole Personal Economy

Let’s zoom out for a moment to remember where and why insurance fits into your Cash Flow System.

Your foundation starts with keeping more of the money you make.  Second, you protect what you’ve built.  Finally, you increase your income to create time and money freedom and expand your legacy.

Insurance fits in the protection stage.  With it, your livelihood is no longer at risk, but secure, regardless of the life circumstances you face.

Your protection is like a roof on your financial house.  When the shingles are sufficient and cover the whole house, it keeps storms outside your house, preventing them from getting inside and destroying your belongings.  Similarly, when you have adequate insurance protection, your income and assets you’ve built are safe from financial storms that may occur in your life.

In this series, we’ll show you the 11 reasons why you want to protect your money, and answer:

* What does insurance do?* Why does it matter? * Why protect my money when I could just make more instead?* Is the cost worth it?* With limited resources, how do I prioritize paying for protection?* What protections are important and why?

Today, we’re exploring the topic of risk, our relationship to risk, and the ideal timeframe to transfer risk.

Why Most People Hate Insurance

Health insurance, auto insurance, disability insurance, life insurance, homeowner’s insurance, professional liability insurance, umbrella insurance, worker’s compensation, business overhead expense insurance, business owner’s insurance, long-term care insurance, gap insurance, key man insurance, critical illness.

Feel like you need a shower yet?

If you’re like most people, the thought of insurance brings up feelings of dread.  The desire to escape all the horrible things that could happen, along with their consequences has us succumbing to spending hundreds of dollars that we don’t want to spend.

Insurance seems like a labyrinth of confusion, where you pay exorbitant premiums, get nothing in return, and the insurance company always wins.