Is Your Financial Security at Risk?

The subject of insurance is not sexy by any means. Perhaps that's wherefore so many people avoid addressing it. Another ground may be a spot more than subconscious--the turning away of future, indeterminable events, in favour of present-day issues with more certainty.

You are probably aware that many Americans are vastly under-insured. Home and auto insurance are important, and most people have got that covered. What I am referring to, more than appropriately, is your (1) life insurance, (2) long-term disability insurance, (3) liability insurance, and (4) long-term care insurance.

It is almost amusive to see person walking around with a $60 cell phone that they have got paid to insure, while their multi-million-dollar organic structure is completely unprotected!

I said almost! Before addressing a client's investing situation, I always inquire them to first see the following four questions:

If you were to die, would your household have got enough money to both wage off the house and unrecorded off the earnings from your savings?

If you were to injure your back, would you be able to cover the rehabilitation once your short-term coverage ran out?

If you were to develop a long-term debilitating illness, could you afford $90,000 per twelvemonth for first-class home care?

If you’ve answered “no” to any of these questions, you might desire to see re-evaluating your degree of protection.

© 2004 Matthew S. Clement, All rights reserved