Insurance is part of your financial foundation. Your present and financial future depends on a strong insurance program. Minimizing your exposure to catastrophic financial loss is important for everyone, no matter what the size of your income or your estate is.

Many people are underinsured and paying excess premiums. Having the right amount of insurance at the most cost-effective price is your goal. No one insurance is more important than the other: either you need it or you don't. Make the most of employer-sponsored benefits, and buy whatever additional insurance you need. On the other hand, if you have insurance that you don't need, get rid of it.

Everyone should have disability and medical insurance. Life insurance is primarily for those whose dependants would suffer financial loss and subsequent hardship in the event of the insured's death. Remember, paying for your insurance should not interfere with your ability to maintain your standard of living and save for future goals.

See the section Insurance Checklist. Please read each question carefully. If you're not sure of the answer, go back and read the appropriate section to get your questions answered. These questions will help clarify your insurance objectives.