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Insurance Planning - 7th Edition
Insurance is complicated, by design. Understanding it doesn’t have to be. Life is a series of risk management decisions and that includes insurance. Here is how to know all the ways insurance can and should be used to mitigate risk. This text guides you through the basics of life, health, disability insurance, long-term care, property and liability insurance; and let’s not forget Social Security and managing personal credit. Using real data and real life examples, readers will soon understand risk retention, avoidance and shifts; and how to avoid the sidetracking of life plans by unexpected and uncovered risk.
Textbook Binding
Published January 1, 2020
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Displaying 1 - 7 of 7 reviews
October 29, 2022
Before I write my heart out here, 1) I bought this book in 2020 but did not read each page until recently. 2) Piggy-backing on (1), the book I bought is titled Insurance Planning - 6th Edition (a tad older). Things (amounts and regulations) always change. Lastly, 3) I will be using this written out review as a reference for when I sit down for the CFP exam (i.e., what to look at for, etc.)
So, without further ado:
This textbook goes over the topic of Insurance (in the United States) and tells an overwhelming amount of information to the reader. From the conception of insurance (1666 - Great Fire of London?) to the conditions that need to be met in order to collect supplemental security income (SSI). Before, during, and (I am pretty sure) after reading this, I was (will be) told that the concept of insurance, regardless of it being car, health, social security, etc was (is) all scam. Based off my understanding from this textbook, that is so far from the truth (at least my truth). There is a need to have (adequate) insurance coverage. There are circumstances where not having the right one will mean complete financial ruin. The terrible circumstance has to only happen once. Same could be said to being fully or past fully insured. Not all of the risks/ bad circumstances that could happen to you will happen. So you'll be spending more money than you should to cover yourself. Again, the insured will be close to financial ruin. There needs to be a balance and that's where understanding the topic of Insurance comes in.
Just like the authors that listed the chapters that talked about specific concepts/ techniques of Insurance, I have jotted a sentence for each chapter - what I took from each.
-Characteristics of Insurance
-Health Insurance
-Life Insurance
-Disability Insurance
-Long-Term Care Insurance (LTC)
-Annuities
-Property & Liability Insurance
-Credit Protection
-Social Security
(Unfortunately, I will have to update this post later - trying to get ahead of other things - So I will lily pad myself to the conclusion).
Regardless if you are trying to become a financial advisor (certified or some other credential) or not, I truly believe understanding (even an elementary understanding) all things insurance can alleviate much of the pain/ burden of dealing with a circumstance that dealt(s) you a (severe) financial blow in this life. Its best to get ahead of it.
If you want answers quick: please seek a certified financial planner.
So, without further ado:
This textbook goes over the topic of Insurance (in the United States) and tells an overwhelming amount of information to the reader. From the conception of insurance (1666 - Great Fire of London?) to the conditions that need to be met in order to collect supplemental security income (SSI). Before, during, and (I am pretty sure) after reading this, I was (will be) told that the concept of insurance, regardless of it being car, health, social security, etc was (is) all scam. Based off my understanding from this textbook, that is so far from the truth (at least my truth). There is a need to have (adequate) insurance coverage. There are circumstances where not having the right one will mean complete financial ruin. The terrible circumstance has to only happen once. Same could be said to being fully or past fully insured. Not all of the risks/ bad circumstances that could happen to you will happen. So you'll be spending more money than you should to cover yourself. Again, the insured will be close to financial ruin. There needs to be a balance and that's where understanding the topic of Insurance comes in.
Just like the authors that listed the chapters that talked about specific concepts/ techniques of Insurance, I have jotted a sentence for each chapter - what I took from each.
-Characteristics of Insurance
-Health Insurance
-Life Insurance
-Disability Insurance
-Long-Term Care Insurance (LTC)
-Annuities
-Property & Liability Insurance
-Credit Protection
-Social Security
(Unfortunately, I will have to update this post later - trying to get ahead of other things - So I will lily pad myself to the conclusion).
Regardless if you are trying to become a financial advisor (certified or some other credential) or not, I truly believe understanding (even an elementary understanding) all things insurance can alleviate much of the pain/ burden of dealing with a circumstance that dealt(s) you a (severe) financial blow in this life. Its best to get ahead of it.
If you want answers quick: please seek a certified financial planner.
September 11, 2022
I passed the final. It's fine.
October 30, 2023
Had to read for my CFP course. I do not like learning about insurance in-depth, yet I have to. I passed the final so the book got me that far at least.
January 25, 2024
Informative, yet dry. It is kind of dumb that I am tracking this in Good Reads, BUT I read a 500 page textbook in a little over a month, so you bet your BUNS it counts in my 2024 reading challenge!
March 13, 2024
made it through and actually understood this stuff
December 18, 2024
Got the job done. Dry AF.
December 12, 2021
I read this behemoth for my Masters Degree in Personal Financial Planning. There is no other reason anyone would read this sucker if they didn't have to. But, I will say that Money Education does a great job putting the content together in a readable format. I don't mind reading these books other than we have to read so much in a short amount of time. There is no way I'm not giving myself GR credit for reading this book.
Displaying 1 - 7 of 7 reviews