CHAPTER 13

THE ROLE OF INSURANCE

‘Buy enough insurance for what can go wrong, so you can invest for what can go right.’

Nick Murray, financial commentator, author and speaker

The extent to which you need insurance will depend on a number of factors personal to you, including available financial resources, lifestyle spending, financial commitments and family health history. Perhaps a more important factor is your view on insurance and whether it is a good use of the family wealth to either insure or not insure and fund the consequences yourself (self-insuring). In addition, in the case of inheritance tax, much will depend on your views on wealth succession and whether you are concerned to replace any wealth lost to the state in tax upon your ...

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