Liability acquisition planning addresses how you are going to pay for your asset purchases using liabilities, or $$ money.

The $$ of liabilities is that, by law, the money $$ be repaid.

In general, your borrowing needs tend to $$ as you acquire additional and$/$or more expensive assets.

Insurance planning, on the other hand, provides a way of $$ your financial risks and $$ your income and assets. Improper insurance planning can be expensive and can lead to unprotected possessions.