Page 108 - Charles Calhoun Book Rich As You Want To Be

preventable for the most part. My estimate is

95% are preventable for cardiovascular and

50% are preventable for cancer.
6. And I’m sure there are a few others I’m not

aware of at this moment. Sharks? Bears?

Lightning? And many more.
So how do we best deal with these risks that

could ruin our plans and impoverish us and our

families? Let’s take each one at a time.
It is wise to buy insurance that insures the

income in the event of any loss of income.

When a person dies their income typically
ends. There are exceptions like Elvis Presley

was earning $40 million per year years after he

passed. But for most people death means the
end of income, so it is wise to insure that

income against loss. A person can buy life
insurance to pay off should that person die.

What is being insured is really the person’s

income. The income may be vital for the
surviving family members. That could provide

the funds to replace the lost income so that

surviving children and other dependents are
provided for. The life insurance should be term

insurance and would ideally pay 10 to 12 times
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