Is Insurance a Scam?

Many people avoid insurance because they believe it is a waste of money, or worst case, a big scam.  In this episode of Financial Clarity for Doctors Rachelle and Corey talk about some of the reasons you may need insurance, and others most people can avoid.

First ask yourself:  If this happened, would it be financially devastating to me or my family?  If so, insurance is at least worth exploring.

• You pay an outside company to share a risk with you. Simple as that.
  • Their goal is to make money. This is a business.
  • Your goal is to waste the least amount of money possible, but also to make sure if something big happens, it’s not all on you to figure it out.

 

Listen to the full episode to hear more about specific coverages that you may need, and others that you can almost always skip.

For more financial planning tips from Corey and Rachelle, find them on social media!
LinkedIn: @CoreyJanoff and @RachelleVanderzanden; Instagram: @CoreyJanoff and @VanderzandenRachelle; and Twitter: @CoreyJanoffCFP and @RachelleFinance 

Discussions in this show should not be construed as specific recommendations or investment advice. Always consult with your investment professional before making important investment decisions. Securities offered through Registered Representatives of Cambridge Investment Research, Inc., a broker-dealer, member FINRA/SIPC. Advisory services offered through Cambridge Investment Research Advisors, Inc., a Registered Investment Adviser. Finity Group, LLC and Cambridge are not affiliated. Cambridge does not offer tax or legal advice.