Answer :
Final answer:
Understanding insurance is essential for financial stability and risk management, contributing to informed decision-making.
Explanation:
Personal Financial Literacy for Future Financial Stability
Insurance plays a crucial role in an individual's financial stability by providing protection against unexpected financial losses in the short and long term. It impacts financial goals by mitigating risks and ensuring financial security.
Key challenges include understanding complex insurance policies, while benefits involve having peace of mind and financial security. The knowledge gained on insurance empowers individuals to make informed decisions, minimizing financial risks and ensuring adequate coverage.
Learn more about Insurance here:
https://brainly.com/question/33116677