The Ideas for Your Article in this section focus on insurance. If you would like to use one of these articles in your news and announcements section, simply let us know the article number (in parentheses after the title). Don’t use one of our newsletters? Find out more here.

Why Long-Term-Care Insurance? (#1019-1581)

I believe the two greatest risks to a retirement portfolio’s ability to meet your objectives are the inability to keep pace with inflation and the costs associated with ill health. The intent of long-term-care insurance is to help you weather the latter risk. It is not a replacement for good health insurance. It covers long-term-care services, such as help with daily activities at home, respite care, adult day care, and care in a nursing home.

Long-term-care insurance policies should be carefully evaluated, and you should not rush into purchasing such a policy. Policies vary by the benefits they offer and the type of care they cover. I used to believe that you should consider purchasing long-term coverage at retirement or early into retirement, as the premiums significantly escalate after age 65. However, I now believe it is coverage you should at least consider at an earlier age. This change of opinion is due to the fact that a change in your health may preclude you from obtaining coverage, and some policies allow you to pay for the premiums in 10 years instead of your lifetime. This feature may allow you to pay for your coverage before you retire while you have the extra income to best afford the premiums.

Please call if you would like help deciding on a long-term-care insurance policy.

Review Your Life Insurance Policy (#0119-1538)

Just like your investments, your life insurance coverage should be periodically reviewed to determine if it still meets your goals and expectations. In certain circumstances, such as a policy being owned by a trust, the owner may have a duty to periodically review coverage.
I believe that a policy review should entail much more than simply finding less expensive coverage for you. Together, we should review your overall financial and life goals to help assess whether your coverage continues to meet your needs.

I will help you review various aspects of your current life insurance coverage, and by using my consultative process, I will help you evaluate a policy in the following areas:

  • Structure — Are your policies properly structured to meet your needs?
  • Performance — Are your policies performing as expected?
  • Adequacy — Does your life insurance coverage meet your financial and life goals?
  • Needs — Are there other needs that were not previously considered?

Please call if you would like to schedule a policy review appointment.

Have You Reviewed Your Insurance Lately? (#0418-1486)

If it has been a while since you have reviewed your insurance coverage, please call the office for a review of current policies for adequacy and cost. I can also help if you need a calculation of how much coverage you need or information on types of available insurance.

If your estate is sizable or if you expect to inherit one and do not already have life insurance, you will more than likely need to purchase your own permanent coverage.

As life expectancies have risen, life insurance costs have come down over the past few years. Many are finding that buying their own term life insurance saves money. Competitive rates generally allow healthy, nonsmokers to lock in rates at younger ages and save more money than obtaining coverage through an employer.

Disability insurance is one of the most ignored areas of financial planning for people still in their working years. No one really wants to think that an accident might leave them incapacitated, yet it is statistically more likely than death during the working years. If you do not own a disability policy and your financial goals would be severely hampered if you couldn’t work, buying a disability policy is a must. Check with me for rates if you are not covered by your employer.

Please call if you would like help reviewing your insurance needs.

The Forgotten Coverage (#0418-1487)

Most people buy life insurance to protect loved ones in case of premature death. But what would happen if you had a severe injury or became seriously ill? If you could not bring home a paycheck next week, would your family notice? What about the week after that? What about every week for the next two years? Disability coverage is the most neglected coverage in the United States. There are two reasons for this.

First, people are led to believe they are properly covered at work. However, most companies only cover disability for a short time, usually six to 12 months. This leaves a big gap if someone is out of work for longer than one year. If you are not working, would your company pay you plus pay someone else to do your job? Chances are you would be left to fend for yourself.

Second, people believe disability coverage rates are expensive. The truth is, disability coverage can be designed very inexpensively. As stated above, most workers are covered at work for the first six months. This being the case, you can design a disability policy that has a six-month waiting period before any benefits will begin. Your employer’s disability policy will cover you for the first six months. Your individual disability policy will start after your employer’s coverage ends and can cover you up to age 65.

Please take the time to review your present disability coverage. Check with your employer to see what coverage you actually have and for how long. If you feel it is inadequate, please call. Together, we can design a disability plan that covers your needs

Insurance Needs and Stages in Life (#0118-1476)

You should periodically review your insurance needs, because the types of coverage you require as well as the amount you need will change as you reach different stages in your life.

For example, if you’re young and single, you might not need life insurance, because you have no dependents. On the other hand, if you have children and your spouse doesn’t work, you will probably need significant amounts of insurance. If you’re older with a modest estate and have no children, you might not need life insurance, but you might benefit from long-term-care insurance in the event of a long-term nursing-home stay.

When assessing your insurance requirements — what types and how much you need — you must first identify and analyze all the possible risks you face. Then you must decide how much risk you are willing to take on yourself and how much insurance you need to cover risks you don’t want to assume.

By working closely with a financial advisor, we can ensure each type of coverage you choose and how much of it you purchase will fit into the overall context of your financial situation. For example, you may want less coverage in one area because you have other assets that can cover the risk. Only a periodic review of your current situation will ensure you have the right type of coverage in the proper amounts.

Have You Reviewed Your Insurance Lately? (#0717-1442)

If it has been a while since you have reviewed your insurance coverage, please call the office for a review of current policies for adequacy and cost. I can also help if you need a calculation of how much coverage you need or information on the types of available insurance.

As life expectancies have risen, life insurance costs have come down over the past few years. Many are finding that buying their own term life insurance saves money instead of buying additional coverage through an employer. Competitive rates generally allow healthy, nonsmokers to lock in their rates at younger ages and save more money than obtaining coverage through an employer.

If your estate is sizable or you expect to inherit one and do not already have life insurance, you will more than likely need to purchase your own permanent coverage. I can help educate you on the available options.

Disability insurance is one of the most ignored areas of financial planning for people still in their working years. no one really wants to think that an accident might leave them incapacitated, yet it is statistically more likely than death during the working years. If you do not own a disability policy and your financial goals would be severely hampered if you couldn’t work, buying a disability policy is a must. Check with me for rates if you are not covered by your employer.

Please call if you would like help reviewing your insurance needs.

The Forgotten Coverage (#0717-1443)

Most people buy life insurance to protect loved ones in case of premature death. But what would happen if you had a severe injury or became seriously ill? If you could not bring home a paycheck next week, would your family notice? What about the week after that? What about every week for the next two years? Disability coverage is the most neglected coverage in the United States. There are two reasons for this.

First, people are led to believe they are properly covered at work. However, most companies only cover employees for disability for a short time, usually six to 12 months. This leaves a big gap if someone is out of work for longer than one year. Would your company pay you if you are not working plus pay someone else to do your job? Chances are you would be left to fend for yourself.

Second, people believe the rates for disability coverage are expensive. The truth is disability coverage can be designed very inexpensively. As stated above, most workers are covered at work for the first six months. This being the case, you can design a disability policy that has a six-month waiting period before any benefits will begin. your employer’s disability policy will cover you for the first six months. your individual disability policy will start after your employer’s disability coverage ends and can cover you up to age 65.

Please take the time to review your present disability coverage. Check with your employer to see what coverage you actually have and for how long. If you feel this coverage is inadequate, please call. Together, we can design a disability plan that covers your needs.

Be Prepared (#0117-1407)

What would happen to your family if you suddenly became seriously ill and could not work for several months or several years?  If you passed away at this time, what would happen to your family’s finances?  How would your family be impacted if a member had to go into a nursing home?

These are not things we want to consider.  In fact, most of us don’t want to think about them at all.  Many of us think we are immortal and will go on working and providing for ourselves and our families until normal retirement age and beyond.  We think of premature death or physical disability as something happening to someone else’s family.

As your financial advisor, I strongly recommend you examine your own preparedness for these risks.  Even current retirees need to consider the financial risk of a serious illness or nursing home confinement.  The time to do that checkup is now, while you are currently healthy.  If you wait until a change in your health, it may be too late.  You may then be uninsurable or your options might otherwise be limited by not having been prepared.  The financial consequences could be catastrophic.

The Forgotten Coverage (#0117-1408)

Most people buy life insurance to protect loved ones in case of premature death.  But what would happen if you had a severe injury or became seriously ill?  If you could not bring home a paycheck next week, would your family notice?  What about the week after that?  What about every week for the next two years?  Disability coverage is the most neglected coverage in the United States.  There are two reasons for this.

First, people are led to believe they are properly covered at work.  However, most companies only cover employees for disability for a short time, usually six to 12 months.  This leaves a big gap if someone is out of work for longer than one year.  Would your company pay you if you are not working and pay someone else to do your job?  Chances are that you would be left to fend for yourself.

Second, people believe the rates for disability coverage are expensive.  The truth is disability coverage can be designed very inexpensively.  As stated above, most workers are covered at work for the first six months.  This being the case, you can design a disability policy that has a six-month waiting period before any benefits will begin.  Your employer’s disability policy will cover you for the first six months.  Your individual disability policy will start after your employer’s disability coverage ends and can cover you up to age 65.

Please take the time to review your present disability coverage.  Check with your employer to see what coverage you actually have and for how long.  If you feel this coverage is inadequate, please call.  Together, we can design a disability plan that is tailored to your needs.