Aaron Street: Yeah, I guess rather than an analogy to cars I think maybe a more
useful way
of thinking about this is more like an
insurance sales person or even more a financial advisor, wealth manager, where you are engaging them for the
purpose of giving you advice and it turns out that their business model, though it involves giving advice, also includes things like selling you product and this isn't to denigrate law firm IT consultants, or tech consultants in general, it's just to make sure that people are aware
of how their business model works and then to make sure that you're using them in a way that acknowledges that.
Decreasing coverage policies are
useful as mortgage
insurance, education expense
insurance, retirement savings
insurance, and to accommodate the decreasing amount
of coverage needed to provide for a child as they get older and closer to providing for their own needs.The
purpose of modified coverage is to provide both the needed protection and to ensure future insurability for the insured person without paying for more coverage than the owner has to.