Dave's statement that insurance is the defense for managing your money is true because insurance acts as a financial safety net that protects your assets and wealth against unexpected events that could otherwise cause significant financial loss. Insurance helps safeguard your home, income, liabilities, and business operations, preventing these risks from eroding or completely wiping out your investments and savings. By mitigating potential financial disasters such as property damage, disability, lawsuits, or medical emergencies, insurance preserves what you've already built and allows for more confident financial planning and wealth growth. In essence, insurance is a defense mechanism that shields your money from unpredictable, costly events, ensuring your financial security and stability over the long term. It should be viewed as an essential component of a comprehensive wealth management strategy—not merely an expense but a means to protect and preserve wealth for the future. This protective role of insurance includes:

• Property insurance to cover losses related to your home and possessions.
• Life and disability insurance to protect your income and family's financial security.
• Liability insurance to protect against lawsuits and related financial judgments.
• Business insurance to maintain operations during unforeseen events.

Thus, insurance enables you to manage money more safely by reducing financial risks and preserving assets.