31 Days to Financial Independence (Day 26): Considering Insurance

Financial Freedom: Getting Your Insurance


Financial freedom and independence is a growing interest among Americans. Those you following along with the 31 day guidance, step 26 is all about insurance and what you stand to lose or gain when deciding the best needs for you and your family. Insurance can be a daunting task, but with the help of an expert it can become quite easy.

Key Takeaways:

  • Don’t assume you need a policy because some salesman or some guy on the internet told you that you did.
  • Figure out on your own whether you actually need such a policy and, if you do, get quotes from lots of different insurers.
  • higher deductibles save you money over the long run, but only if you have enough money on hand to cover that deductible.

“Don’t buy an insurance policy without a specific purpose, and that purpose should be to protect something you have against a threat you cannot handle.”