Insurance is a vital part of any comprehensive financial plan. Being protected ensures your savings will not be wiped out if you suffer from an unexpected event such as a severe accident or illness. If you are the primary income earner in your home, insurance can also protect your loved ones if you suffer from a severe accident that prevents you from working. Certain situations are costly if you do not have coverage, so having the right policies in place transfers the risk to your insurance provider. Most financial experts recommend comprehensive insurance planning before you get serious about investing.
Insurance planning is a vital part of any comprehensive plan that involves analyzing your needs and determining the best coverage to mitigate your risks. While the insurance planning process is customized to each situation, there are specific steps everyone should take. Generally, these steps are involved in creating your insurance plan:
When you purchase insurance, you are protected against certain instances, including business lawsuits, accidents at your home, damage to your property, long-term disability, and critical illness.
Do you want to evaluate your current insurance coverage? Contact Secure Planning Group, LLC to be matched with an insurance planning advisor. We can help with life insurance analysis, disability income benefits, long term care planning, future benefits, and asset transfer strategies.