Insurance and Financial Independence

25 April is International Financial Independence Awareness Day.

Having a tailored insurance plan is one of the ways you can achieve Financial Independence. Achieving financial Independence ensures you can pursue your dreams without having to worry about financial constraints. Insurance reduces the financial impact of risks thereby increasing your ability to be financially independent in the following ways:

1. Motor Insurance, especially if it is comprehensive, protects you from unforeseen costs of accident-related repairs, liabilities and costs to your car or damages you may have caused to third parties.
2. Medical Aid protects you against medical expenses for yourself or your dependents. Whether you have a known chronic condition or it’s a sudden illness uninsured medical costs can have devastating financial implications.
3. Home Insurance protects you against the cost of having to repair or rebuild your home or replace certain damaged/stolen goods following an insured event.
4. Funeral Assurance provides your loved ones a dignified send off during a very difficult time which often is not planned for. Without insurance, the cost of holding a befitting funeral is often quite high.
5. Life Assurance not only provide financial support to your dependents in the case of your death but the plans with a maturity option also provide cash to you the policy holder.
6. Business Insurance helps protect the company you have setup enabling it to grow over time.

There are many other ways in which insurance products aid towards financial independence over time.  These would be used together with other arms of your financial independence plan which may include savings, investments and passive income generation.

Talk with our team today about suitable insurance solutions for your financial independence plan on (0242)744048/79, 0782146301, 0779203074 or 0772434103 or email info@riskmanagers.co.zw