Most people understand that investing is how you build wealth. Whether it's through a 401(k), an IRA, or a brokerage account, investing is about moving forward financially. But what often gets overlooked is protection. Without the right insurance in place, a single unexpected event can force you to dip into your savings or investment accounts too early, unraveling years of progress.

Insurance might not feel exciting, but it’s one of the most important tools you can have in your financial strategy. Because when life hits hard, insurance is what keeps your long-term goals on track.

Why Insurance Still Matters When You’re Already Investing

Even if you’re a disciplined saver and a smart investor, your finances can still be vulnerable. Investing is about growth. Insurance is about protection.

If something serious happens like a car accident, major illness, or a house fire and you don’t have the right insurance in place, the only backup you’ll have is your emergency fund or your investments. That means you're not just recovering from the event, you're losing momentum financially too.

For example, if you’re out of work for three months after a car accident and you don’t have disability insurance, you might be forced to withdraw from your 401(k). That withdrawal not only creates taxes and penalties, it slows down your long-term growth.

What We Do at Endeavor Advisors

At Endeavor Advisors, we take insurance seriously. We go through in-depth policy reviews with all of our clients, not just once, but as part of an ongoing planning process.

Because insurance shouldn't just be a piece of paper that gets mailed to you every year. It should be a carefully chosen part of your financial foundation. When disaster strikes, you want to know exactly what you're covered for. You want confidence that your plan was built for moments like these.

Insurance is all about managing risk. That’s why we look at your policies in the context of your goals, your family, and your lifestyle. It’s not about having the most coverage. It’s about having the right coverage.

My Own Approach to Insurance

I don’t just recommend insurance. I carry it myself. I have life insurance because I made a promise to my family that they’ll be okay no matter what. I want them to live the life we’re building, even if I’m not here to see it through.

I carry property and auto insurance in case something terrible happens, like an accident or major damage. I want to know I can replace what’s lost or cover any liability without going into debt or selling investments.

I have health insurance because if I ever need surgery, treatment, or medication, I don’t want money to be the reason I hesitate to get care. I want to make sure I’m focused on healing, not costs.

For me, insurance is a simple question. What am I willing to risk? What am I willing to lose? If the answer is “not much,” then it’s something I insure.

The Core Four Insurance Policies You Should Know

You don’t need to insure everything. But there are four foundational types of coverage that most people should have in place.

1. Health Insurance
This covers medical care, hospital stays, and surgeries.
Example: An emergency room visit without coverage could cost thousands. With insurance, it might only cost a copay.

2. Life Insurance
This provides financial support to your family if you pass away.
Example: It can help cover the mortgage, household expenses, or education costs for your kids.

3. Disability Insurance
This replaces a portion of your income if you’re too sick or injured to work.
Example: A skiing injury could leave you unable to earn for months. This coverage can replace part of your paycheck so the bills still get paid.

4. Property and Casualty Insurance
This protects your home, car, and belongings against theft, disasters, and accidents.
Example: A fire, theft, or car accident could lead to huge out-of-pocket costs without the right coverage.

Insurance Is a Tool, Not Just a Bill

I know premiums can feel like one more monthly expense. But insurance is not just a cost. It’s a safeguard. It helps you avoid emotional, pressure-filled decisions when life takes a turn.

If you lose your job due to an illness and you have disability coverage, you won’t need to drain your investments or rack up debt. If you get into a car accident, you won’t need to empty your emergency fund to repair or replace your vehicle. When your insurance is structured well, it lets you stay calm and focused.

Why You Should Review Your Coverage Annually

Your life evolves. Your insurance needs should too.

If you’ve recently gotten married, had a child, changed jobs, or bought a home, your coverage might need to be updated. More income and more assets means you likely need more protection.

Example: If you bought your first house and never switched from renters insurance to homeowners insurance, you could be drastically underinsured.

That’s why we revisit insurance with our clients regularly, not just once. It's part of making sure your financial plan stays aligned with your life.

Common Insurance Questions I Hear

If I have savings and investments, do I still need insurance
Yes. Insurance helps protect those savings from getting wiped out in an emergency. Think of it as a shield for your long-term goals.

How do I know what coverage I need
Start with your life stage. If you’re working, you need health and disability coverage. If you have a family, add life insurance. If you own property, make sure it’s covered.

Is my employer-provided health insurance enough
It might not be. Many plans exclude dental, vision, or family members. And employer plans often come with limited life and disability coverage. Always check what’s included.

What’s the difference between life and disability insurance
Life insurance protects your family if you pass away. Disability insurance protects your income if you’re alive but can’t work. Both are essential for different reasons.

Final Thoughts and Takeaways

I believe that a strong financial plan doesn’t just grow. It holds up when life gets messy.

Here’s what I want you to remember:

• Investing builds your future

• Insurance protects that future from being derailed

• The four key coverages are health, life, disability, and property

• Insurance isn’t just paperwork. It’s peace of mind

• Review your coverage every year or after any major life event

• Start with what matters most, then build from there
  
  
  

You’ve worked hard to build a financial future. Insurance helps make sure you get to enjoy it.

If you’re not sure where to start, reach out. We’ll look at what you already have, identify any gaps, and build a plan that protects what matters most.

Compliance Disclosure: The views expressed are my own and are for informational and educational purposes only. This post does not constitute personalized financial, legal, or insurance advice. Please consult a licensed advisor or insurance professional before making decisions specific to your situation.