Insurance
Managing risks that money alone cannot cover
Week 50 Day 1: Insurance as Risk Transfer: What It Is and Is Not
Insurance is not an investment. It is a risk transfer tool. You pay a small, predictable cost (the premium) to transfer a large, unpredictable risk (a house fir...
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View lesson →Week 50 Day 2: Health Insurance: The Biggest Financial Risk in America
Medical debt is the number one cause of personal bankruptcy in the United States. A single hospitalization can cost $50,000-$500,000 or more. Health insurance i...
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View lesson →Week 50 Day 3: Life Insurance: Replacing Income Your Family Depends On
Life insurance replaces your income if you die while your family depends on it. If no one depends on your income, you do not need life insurance. If your spouse...
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View lesson →Week 50 Day 4: Disability Insurance: Protecting Your Earning Power
Your ability to earn income is your most valuable financial asset. A 35-year-old earning $75,000 per year will earn over $2 million before retirement. Disabilit...
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View lesson →Week 50 Day 5: Umbrella Insurance: Cheap Protection Against Catastrophic Lawsuits
Your car and homeowners insurance have liability limits -- typically $300,000 to $500,000. If you cause a serious car accident or someone is severely injured on...
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View lesson →Week 50 Day 6: Long-Term Care: The Risk Nobody Wants to Think About
Approximately 52% of Americans over 65 will need some form of long-term care -- assisted living, nursing home, or in-home care. The average cost is $55,000-$110...
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View lesson →Week 50 Day 7: Your Insurance Audit: What to Keep, What to Drop, What to Add
Most people are simultaneously overinsured on small risks (low deductibles, extended warranties, rental car coverage) and underinsured on catastrophic risks (in...
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View lesson →Master Insurance
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