Assessing your needs for insurance services is part of your personal financial planning. Insurance takes care of your unpredictable needs, and as these needs can arise at any time, insurance is extremely important. Investments take care of your foreseeable needs and do their best to follow your unpredictable needs. Insurance has changed considerably over the last few years, and there are also many new products that are very flexible.
Financial planning is the process of ensuring your life goals through the proper management of your finances. Financial planning helps you to anticipate all financial needs that will emerge in the future. The objective of financial planning is to provide sufficient amounts of money in the right hands and at the right moment in the future in order to ensure that individual goals are achieved.
It is good to review the plan when there is a change in life, such as marriage, birth, death or divorce. Any change in the financial position is also necessary. Most people have an annual update that evaluates how the plan is implemented. The review also deals with changing objectives and circumstances.