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Part of planning the rest of your life means preparing for the risks that we're all exposed to.  Proper insurance planning has the potential to help protect everything you've worked so hard for from an unexpected illness or serious misfortune.  Every sound financial plan should include an objective insurance needs analysis.  

Some of the more important insurances used in the context of financial planning are life insurance, disability insurance, and long term care insurance.  


Life Insurance

Protecting your legacy and your family can be one of the most important financial decisions you make in your lifetime.  There are many reasons for purchasing life insurance, but two strategies are more popular than any other:

  • Providing for your family in the case of your untimely death. If you’re responsible for providing for your family, you need to plan for their wellbeing.  An early departure is incredibly hard on a family and proper planning can help alleviate some of those stresses.  A sum of wealth can potentially contribute to a better quality of life for your family.  There are different strategies and types of insurances that we can customize to fit your exact needs.  Give us a call to talk about how we can help you pursue a better future for your family.   

  • Leaving behind a legacy that will be meaningful to people that you care about. Sometimes the best gift you can give is one that improves the lives of the people you love.  Life insurance is a tool that can help you address the legacy that you’ve always dreamed of.  We work with many individuals who have been the beneficiaries of life insurance payouts and the financial gift changed their lives.  Let us know if you have a goal of improving the financial lives of your loved ones and we’ll help you create a financial plan.


Disability Insurance

Insurance planning is essential when you’re planning for the worst that life has to offer.  What would happen to you and the people you care about if you suddenly couldn’t work anymore?  Would you be solvent?  Would you deplete your emergency fund?  How long would you be able to survive?  These are all serious questions that should be considered by anyone that doesn’t have a guaranteed income. 

If the day comes when you can no longer work, you’ll want to be protected by disability insurance.  The supplemental income that this kind of insurance provides could save you from becoming financially insolvent.  Let’s talk about how you can protect yourself in the far too common event of disability. 


Long Term Care

Protecting your wealth from poor health is one of the most essential pieces to financial planning – it’s truly foundational in building a solid plan.  There’s a misconception that Medicare or Medicaid will pay for all of the help you need in the case of sickness.  Medicare and Medicaid provide minimal (insignificant) help for those who need long term care and the only way to truly protect your wealth (other than self-insuring) is to consider long term care insurance. 

Almost 70% of people turning age 65 will need long term care at some point in their lives.*  It’s an incredibly expensive ordeal to get sick and it could easily deplete all of the assets that someone worked their entire lives to save – it’s their legacy that gets hurt if they’re not properly protected. 

We have been working with our clients to creatively plan for a likely need for long term care insurance.  We’ve found an alternative strategy to traditional long term care: asset based long term care.  It’s a single premium life policy with a long term care rider.  Contact us for more information – our financial advisors are happy to help you create a strategy with the goal to protect you and your family. 

* Source: https://www.fool.com/retirement/2017/02/06/70-of-older-americans-could-face-this-colossal-exp.aspx 

CA Insurance License # 0I73009


This material contains only general descriptions and is not a solicitation to sell any insurance product or security, nor is it intended as any financial or tax advice. For information about specific insurance needs or situations, contact your insurance agent. This article is intended to assist in educating you about insurance generally and not to provide personal service. They may not take into account your personal characteristics such as budget, assets, risk tolerance, family situation or activities which may affect the type of insurance that would be right for you. In addition, state insurance laws and insurance underwriting rules may affect available coverage and its costs. Guarantees are based on the claims paying ability of the issuing company.

Riders are additional guarantee options that are available to an annuity or life insurance contract holder. While some riders are part of an existing contract, many others may carry additional fees, charges and restrictions, and the policy holder should review their contract carefully before purchasing. Guarantees are based on the claims paying ability of the issuing insurance company.

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