Mwende is starting out on her own in a rural area and wants to be responsible. She has a steady job with benefits, a car, and an apartment in an old farmhouse. She wears contact lenses. She understands that insurance may help minimize some financial risks, but she can't afford to purchase every policy she wants within her budget. She has determined that she can spend up to Ksh.1.1m per year on premiums. She believes that insurance can protect the insured from risks and the financial burdens that can come with these risks.

a) Review what insurance choices may be most important for a young person like Mwende to take cover against. ?

b) Imagine that Mwende's cousin is getting ready to graduate and start his first job in a new town. After meeting with his new employer, he's asked Mwende for advice on whether or not insurance is worth the cost. Answer as if you're Mwende, giving general advice about the important role insurance can have in a person's financial life. ?