Ever take pride in something you did on your own? It could be something as simple as preparing an expense tracking sheet or as involved as a home repair. American society celebrates those that are self-made. It’s why we hold entrepreneurs on a pedestal; like Steve Jobs that took Apple from a garage to the iconic company, it is today. The American dream still holds power today, founded on the principles of working hard, being self-sufficient, and tackling the world one day at a time.
But when it comes to insurance, is it the right choice to “do-it-yourself”? “Self-insurance” is the idea that one can insure themselves by simply building more assets. Unfortunately, the reality of “self-insurance” is that it is no insurance at all.
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Direct vs non-direct recognition: which is better?
