By
Cathy Pareto
In one form or another, we all own
insurance. Whether it's auto, medical, liability, disability or life, insurance serves as an excellent risk-management and wealth-preservation tool. Having the right kind of insurance is a critical component of any good financial plan. While most of us own insurance, many of us don't understand what it is or how it works. In this tutorial, we'll review the basics of insurance and how it works, then take you through the main types of insurance out there. (To read more about insurance, see our
Special Insurance Feature.)
Next: Intro To Insurance: What Is Insurance? »
by
Cathy Pareto, MBA, CFP®, AIF, is the founder and president of Cathy Pareto & Associates, Inc., Investment Management and Financial Planning. Pareto has more than 12 years of experience in the financial services industry. After a 10-year engagement as a senior financial advisor with a large investment management firm, Cathy decided to pursue her passion for helping individuals, families, small businesses, young executives, and other professionals with substantial investable assets, but who fall below most large investment advisory firms' account minimum requirements.
