Just like in football, life involves blocking and tackling.

While “blocking” is an offensive manuever and tactic, “tackling” is critical on the defensive side of the ball to protect the end zone from the other team.

Tackling is necessary in your business and personal life. You’re building wealth and lifestyle for yourself, your employees, and your loved ones. You want to protect your “end zone.”

Insurance is the best method to finance (or tackle) your risk. I’ve been in the insurance industry for almost 34 years. I’ve heard every reason why not to purchase insurance.

I know enough about insurance to be clear about how to protect myself, my family, and my business. I don’t buy insurance I don’t need.

To that end, here is a list of what every CEO/President should buy for their business, and what every individual should buy to protect themselves and their loved ones. That’s because I buy all of them for myself:

Business: General Liability, Business Personal Property, Cyber insurance, Business Life insurance, and Professional Liability insurance (Errors & Omissions)*

* Not all businesses need Professional Liability, but if you’re in professional services like me, you do. Your industry may require other insurances like Employment Practices, Pollution, and Business Auto. Contact your insurance broker to assure you have everything you need.

Personal: Life insurance, Homeowners insurance, Auto insurance, Disability insurance, and Long-Term Care insurance. We also have a current will, which in itself is a form of insurance for your beneficiaries.

Insurance is not a “necessary evil;” rather a “necessary good.” Without insurance, we wouldn’t be able to sustain commerce, buy homes, drive autos, or even feel safe leaving the home.

Take it from me, all of these insurance policies are worth the investment if you really care about tackling calmaity before it gets to your end zone.

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