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June 03 newsletter
Welcome to the Shape of Money's step-by-step guide to the secrets to wealth.
This month we look at another secret to wealth: insurance, or the art of protecting what you have.
Insurances can sometimes appear to be a waste of money. Money is deducted from your bank account with frightening regularity, though you never make a claim.
However, at the Shape of Money we believe that having the appropriate insurance cover to safeguard you and your family against financial loss is imperative.
The secret to wealth is therefore to protect the wealth as it grows, and to protect the resources that are creating the wealth.
Appropriate insurance cover means understanding the sort of insurance that you should have and ensuring that you have the right level of cover.
Insurance should cover your assets, such as house, contents and vehicle. And it should cover yourself. This cover might include life, trauma, and income protection insurances.
the Shape of Money has an insurance topic that includes questions to help you assess the level of insurance you require, and information on specific insurance products.
We can't predict accidents or tragedies, but we can insure against them. Insurance provides financial relief in times of personal heartbreak or hardship. If you have dependents, the right insurance cover will ensure that the financial goals of your family are still achieved.
We recommend that you take a few hours to review your current insurance coverage to ensure that you have a plan to fix any gaps in that coverage.