It takes a great deal of boldness and a great deal of caution to make a great fortune, and when you have got it requires ten times wit to keep it. You work hard to create save and manage your wealth and you surly want to protect it as the forces present in the society that can certainly cause loss to your wealth. These hostile forces must be anticipated and planning implemented to minimize or avoid these threats to your wealth by various wealth protection plans. These threats are basically divorce, income tax, creditor’s claim, wealth transfer tax and many more.
Many things you can do will effectively provide wealth protection and wealth protection protect your wealth and your family against future losses due to these threats and planning will allow you to preserve your wealth in your family for generations to come. Human life approach focuses on the economic component of human life and any event affecting individuals earning capacity has an impact on the individual’s life value.
This event may be premature death partial disability and the concept of life insurance provides the philosophical basis and death at any age considered premature when dies before adequate preparation for future financial requirements for the dependent and life insurance thus becomes a mechanism for one to ensure a continuous stream of income to the beneficiaries. Life insurance is concerned with two hazards that stand across the life path of every person and they are dying early, and living too long without the visible means of support that’s why insurances are developed on the concept of human life value.
Protection and care for wealth and life - Life insurance