- Budgeting
- Cash Management
- Consumer and Mortgage Loans
- Debt and Debt Reduction
- Time Value of Money 1: Present and Future Value
- Time Value of Money 2: Inflation, Real Returns, Annuities, and Amortized Loans
- Insurance 1: Basics
- Insurance 2: Life Insurance
- Insurance 3: Health, Long-term Care, and Disability Insurance
- Insurance 4: Auto, Homeowners, and Liability Insurance
- The Home Decision
- The Auto Decision
- Family 1: Money and Marriage
- Family 2: Teaching Children Financial Responsibility
- Family 3: Financing Children’s Education and Missions
- Investments A: Key Lessons of Investing
- Investments B: Key Lessons of Investing
Realize the Importance of Insurance
Insurance is a legal contract between you and an insurance firm. The insurance firm agrees that if you pay a specified amount, known as a premium, the firm will compensate you for certain kinds of losses or events, such as death, sickness, accident, loss of ability to work, and legal expenses.
There are many types of insurance: life insurance, health insurance, auto insurance, disability insurance, homeowner’s insurance, renter’s insurance, and liability insurance. Because of the different natures of different types of risk, we have divided this unit’s discussion of insurance into sections about life insurance, health insurance, auto insurance, homeowner’s insurance, and liability insurance.
