Your Financial Plan Should Include a Plan for Protecting and Enhancing

question 99

True/False

Your financial plan should include a plan for protecting and enhancing your assets and income through carrying excess insurance coverage so you can profit in the event of a loss.

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Definitions:

Convergent Thinking

A cognitive process where an individual focuses on finding a single, well-defined solution to a problem, limiting creativity by emphasizing standardization and correctness.

Escalation

The process by which conflict, intensity, or severity increases or is perceived to increase.

Need for Stimulation

A psychological drive for sensory or intellectual arousal and experiences that are varied, novel, complex, and intense.

Social Approval

The act of seeking validation or acceptance from others in a social context.