From my two previous post, I am not a big fan of insurance. However, insurance and emergency funds are extremely important in personal finance. Not having one or not having adequate is like walking around without wearing an underwear or wearing an underwear with a big hole.
Having too much of insurance and emergency funds is also detrimental. We will be sitting on a lot of DEAD CASH or some of us would call LAZY CASH. Is it fair, the master is working hard, but the worker (CASH) is lazy? Who is the master? Who is the worker?
Personal finance not done right, we end up being the worker and our CASH is the master. That is what is happening to 80% of the population.
ENJOY this video on what insurance to buy by Mr Money TV. Buy adequate, not overbuy. Buy the correct one at the correct time. Jumbling it up based on feel good is gonna pull you back in your financial freedom journey. To really understand how to buy insurance is to understand the INSURANCE NEEDS BELL-CURVE.
FOUNDATION NOT DONE WELL, THE FALL WILL BE MORE PAINFUL!