Management and Organizational Studies 2277A/B Chapter Notes - Chapter 8: Home Insurance, Disability Insurance, Property Insurance

• School: Western University
• Department: Management and Organizational Studies
• Course: Management and Organizational Studies 2277A/B
• Professor: Barry Hawn

Document Summary

Long-term care insurance can ensure you have access to bene ts that will help cover added living cost as you get older. Primary function o insurance is to maintain existing level of wealth by protecting you against potential nancial losses of unexpected events. You can not completely avoid risk in life, but you can take extra pre-cautions andsrend extra money to ensure that you are as protected as possible. 2: reducing your risk is one way to ensure that if you do have nancial loss, its not as severe as it would have been (e. g. buying a smaller house instead of a big house) 3: realistically only feasible if you encounter very little risk in your ever day life. Accepting risk as they come and not preparing for those situations and the price of insurance is just not worth it. This alternative leaves you liable and your personal assets may be used to help pay for that.