When it comes to financial planning, insurance is often overlooked. Many people assume that insurance is an unnecessary expense, or that they will never need to use it. However, insurance can be a valuable tool in protecting your financial assets and ensuring your long-term financial stability. In this article, we'll explore the reasons why insurance is essential for your financial planning. First and foremost, insurance protects you from financial loss. If you were to experience an unexpected event such as a car accident, a natural disaster, or a serious illness, the financial costs could be devastating. Without insurance, you would be responsible for paying these costs out of pocket, which could quickly deplete your savings and put you in debt. With insurance, however, you can transfer these risks to an insurance company, which will provide financial compensation in the event of a covered loss. Furthermore, insurance can help you manage risk in your investment portfolio. If you
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