Insurance is essential because it financially protects you or your loved ones against unexpected events such as hospitalization, critical illness, or even the unthinkable. When it comes to something so important, it’s advisable to avoid insurance mistakes for better financial planning and proper coverage. To avoid confusion, here’s a guide to avoid those mistakes. Source: Giphy Delaying getting insurance You may feel young, and that your insurance risk is very low. But so long as you are uninsured, uncertainty looms over your financial planning and financial worries can remain.
There are some misconceptions about insurance that continue to persist to this day. These misconceptions have magnified the burden of many uninsured people who face major health and physical challenges. Don’t let false beliefs prevent you from getting the financial protection you need. We debunk five of the biggest and most common insurance myths out there: Source: Katy Perry MYTH 1: I’m young, healthy and single with no dependents, so I don’t need insurance Fact: Insurance may seem unnecessary when you are young, single and in good health with little to no debt. But keep in