Insurance planning involves assessing your financial needs and risks and then selecting appropriate insurance policies to mitigate those risks. It aims to provide financial protection to you and your loved ones in case of unexpected events.

Insurance planning helps you safeguard your financial future by providing a safety net against unforeseen events such as accidents, illnesses, natural disasters, and more. It ensures that you and your family are financially secure even when facing unexpected challenges.

The amount of coverage you need depends on factors such as your income, family size, financial obligations, and long-term goals. Working with a financial advisor can help you determine the appropriate coverage amounts.

You should review your insurance coverage whenever there's a significant life event, such as marriage, having a child, buying a home, changing jobs, or reaching retirement. Changes in your circumstances might necessitate adjustments to your insurance plans.

You can save on insurance premiums by comparing rates from different providers, bundling multiple policies with the same insurer, maintaining a good credit score, and taking advantage of discounts for safe driving, home security features, or maintaining a healthy lifestyle.