EPISODE · May 21, 2025 · 17 MIN
Episode 156: Insurance is a Tool to Protect Wealth
from The Grow Your Wealthy Mindset Podcast · host Elisa Chiang
Send us Fan MailWhen it comes to asset protection, your first line of defense is insurance against a potential financial disaster. You may purchase insurance to protect an asset, like homeowners’ insurance protects your personal residence in the case of significant damage. As you build your wealth, you may drop some types of insurance since you can self-fund if a situation occurs where you would actually use that insurance. Once you have an emergency fund that covers 3-6 months of living expenses, then you can self-fund any short-term disability. Some insurances are only necessarily depending on your personal situation. Life insurance is really to protect your loved ones since when you buy life insurance for yourself, you aren’t on this earth the benefit from the payout of life insurance. This episode reviews the different types of insurance products and breaks down who would benefit from each insurance product. Disclaimer: I am not an insurance broker, this is not personalized professional advice. Please subscribe and leave a review on your favorite Podcasting platform. Get 12 Financial Mistakes that Keep Physicians from Building Wealth at https://www.growyourwealthymindset.com/12financialmistakesIf you want to start your path to financial freedom, start with the Financial Freedom Workbook. Download your free copy today at https://www.GrowYourWealthyMindset.com/fiworkbookDr. Elisa Chiang is a physician and money coach who helps other doctors reach their financial goals by mastering their money mindset through personalized 1:1 coaching .You can learn more about Elisa at her website or follow her on social media.Website: https://ww.GrowYourWealthyMindset.comInstagram https://www.instagram.com/GrowYourWealthyMindsetFacebook https://www.facebook.com/ElisaChianghttps://www.facebook.com/GrowYourWealthyMindsetYouTube: https://www.youtube.com/c/WealthyMindsetMDLinked In: www.linkedin.com/in/ElisaChiang Disclaimer: The content provided in the Grow Your Wealthy Mindset Podcast...
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Send us Fan Mail When it comes to asset protection, your first line of defense is insurance against a potential financial disaster. You may purchase insurance to protect an asset, like homeowners’ insurance protects your personal residence in the case of significant damage. As you build your wealth, you may drop some types of insurance since you can self-fund if a situation occurs where you would actually use that insurance. Once you have an emergency fund that covers 3-6 months of living exp...
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Episode 156: Insurance is a Tool to Protect Wealth
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