Like most of us, you probably don’t love spending money on insurance. We give it a nice big bite out of our budgets—and for what? It’s pretty much the only thing we pay for and hope we never have to use.

The primary purpose of insurance is to transfer the risk of financial loss from you to the insurance company. That’s why they call it coverage. Insurance policies cover large, unexpected expenses that could otherwise destroy your financial life. 

Click to read more...