{"id":1465,"date":"2007-12-05T05:00:44","date_gmt":"2007-12-05T13:00:44","guid":{"rendered":"http:\/\/getrichslowly.org\/blog\/2007\/12\/05\/a-brief-introduction-to-insurance\/"},"modified":"2019-10-03T22:56:40","modified_gmt":"2019-10-04T05:56:40","slug":"a-brief-introduction-to-insurance","status":"publish","type":"post","link":"https:\/\/www.getrichslowly.org\/a-brief-introduction-to-insurance\/","title":{"rendered":"A brief introduction to insurance"},"content":{"rendered":"
This article was written by Aaron Pinkston.<\/b> He used to help other insurance agents understand insurance. Now he prefers dealing directly with the public.<\/i><\/p>\n
Insurance is an oft-misunderstood financial tool. I feel like it’s my responsibility to help folks out with their questions when I can. Don’t get me wrong, I don’t think I’m the patron saint of insurance, but I do think the world would be a slightly better place if I could help people save money, improve their coverage, or understand their coverage better.<\/p>\n
A quick note: I am not giving out tax or legal advice, and you shouldn’t think I am. The advice I have to offer through this site is generic only because the audience is so diverse. If you have specific questions, you should consult a financial planner or insurance specialist.<\/p>\n
Insurance is the cheapest and most immediate way for a person to displace risks that are too great to assume individually. I can afford the doctor for an annual check-up, but what if I need an MRI and surgery? By paying a smaller amount up front, I am moving the responsibility from my shoulders to a large organization.<\/p>\n
When you displace that risk with a large group of others, you are pooling your risk with your neighbor. The insurance company is a large organization charged with administering that group of risks in the unforeseen event that something happens to any individual in that pool.<\/p>\n
There are all types of risks that we face on a day to day basis. Any of these risks can throw a monkey wrench in our months and years of frugality, and ruin the spirit of getting rich slowly. Some of the more concrete risks that we face are getting into a car accident or our house burning down \u2014 known as property and casualty. Some risks are less tangible such as getting sick, staying sick, and dying \u2014 known as life and health.<\/p>\n
When I originally wrote J.D., I told him that I saw two potential problems that his readers faced:<\/p>\n
Many people have inadequate insurance protection because they don’t know where to begin. Don’t be frightened. Here are some easy ways to get started:<\/p>\n
Finally folks, you need to review your plan from time to time to make sure that things are still on track and your coverage hasn’t changed.<\/p>\n","protected":false},"excerpt":{"rendered":"
This article was written by Aaron Pinkston.<\/b> He used to help other insurance agents understand insurance. Now he prefers dealing directly with the public.<\/i><\/p>\n
Insurance is an oft-misunderstood financial tool. I feel like it’s my responsibility to help folks out with their questions when I can. Don’t get me wrong, I don’t think I’m the patron saint of insurance, but I do think the world would be a slightly better place if I could help people save money, improve their coverage, or understand their coverage better.<\/p>\n
A quick note: I am not giving out tax or legal advice, and you shouldn’t think I am. The advice I have to offer through this site is generic only because the audience is so diverse. If you have specific questions, you should consult a financial planner or insurance specialist.<\/p>\n","protected":false},"author":3292,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":[],"categories":[504],"acf":[],"_links":{"self":[{"href":"https:\/\/www.getrichslowly.org\/wp-json\/wp\/v2\/posts\/1465"}],"collection":[{"href":"https:\/\/www.getrichslowly.org\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.getrichslowly.org\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.getrichslowly.org\/wp-json\/wp\/v2\/users\/3292"}],"replies":[{"embeddable":true,"href":"https:\/\/www.getrichslowly.org\/wp-json\/wp\/v2\/comments?post=1465"}],"version-history":[{"count":0,"href":"https:\/\/www.getrichslowly.org\/wp-json\/wp\/v2\/posts\/1465\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.getrichslowly.org\/wp-json\/wp\/v2\/media?parent=1465"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.getrichslowly.org\/wp-json\/wp\/v2\/categories?post=1465"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}