Which One Should You Prioritise, Investing Or Insurance?

Both investing and insurance coverage play crucial roles in achieving overall financial security and meeting long-term financial goals, and one cannot be ignored in favour of the other. Here’s the argument for insurance coverage. Given limited surplus funds, prioritising insurance coverage is essential to protect yourself and your loved ones from unforeseen events. Life insurance provides a safety net in case of the policyholder’s untimely demise, ensuring that their family’s financial future is secured. If you have dependents or significant financial obligations, such as outstanding loans or mortgage, having life insurance coverage is critical. Life insurance can help cover outstanding debts, education expenses, daily living costs, and other essential needs in your absence, providing peace of mind to you and your loved ones. While insurance coverage is a priority...