While insurance coverage is a must, many times smart, insured people do not read the exclusions part of their insurance. And even if their insurance covers an incident, do you know that there are limits both in the amount the insurance will pay and in the amounts of claims that can be filed against an asset?
There are three steps every successful person must take:
• Make all the money you can make ethically
• Reduce your taxes legally
• Protect your assets obsessively
Guess which step of the three successful people neglect to take? More wealth is lost due to failure to protect assets than anything else. It is a shame how many people think they are the exception to the rule, then end up regretting it. Do you know that there is a saying among insurance actuaries that goes like this?
THE MORE UNLIKELY AN EVENT WILL HAPPEN, THE MORE DEVASTATING IT WILL BE WHEN IT HAPPENS.