Understanding Insurance Lesson 6
Key Points
- The purpose of insurance is simply to transfer risk—this is your defensive game plan.
- There are eight types of insurance you actually need.
- No exceptions and no excuses—everyone 18 or older needs a written will.
Video
Action Items
Review all of your coverage
Take our Coverage Checkup in Ramsey+ to see where you need to make adjustments to your insurance plan. We’ll give you a prioritized list of what to add, drop or change. This includes your will! Then we’ll connect you with the service providers we recommend to knock out each item on the list!
Connect with a RamseyTrusted Provider
After working through this lesson, if you already know you’re missing insurance items or you’re ready to get quotes for the best rates and coverage for you, then connect with one of our RamseyTrusted providers in Ramsey+.
Track your transactions in Every Dollar
Are you sensing a pattern? That’s right, you need to be tracking your transactions every single week. This is the best way to make sure you’re spending and saving according to the budget you created.
Read "Term Life Insurance - The way to go" on Page 102 of your workbook FPU Workbook
We’re not too big on whole life insurance. In fact, we hate it. But you should get term life insurance ASAP. Read on to learn what kind of coverage you need, and get it in place today!