There are many different types of insurance that serve many different functions, but they all have one primary purpose…PROTECTING your assets. 

Homeowner's and Automotive:

If you own a home or a car, you generally carry insurance to replace it if there is damage. 

• How much do you have? 

• How much should you have? 

• Do you know what your deductibles and liability limits are? 

• How much do you want if something happens to your asset? 

Answer…enough to replace your home or car.  Anything less would be an immediate erosion of your wealth.    How you purchase and maintain these types of coverages can also be a source for eroding your wealth over time.

Disability Income:

Disability Income Insurance can provide the cash flow needed to sustain your lifestyle in the event disability interrupts your ability to work. 

• How much do you have? 

• How much should you have? 

• Do you know what your waiting or elimination period is? 

• Do you know how long the benefits will continue? 

• How much do you want and how long do you want the benefits to continue if disability interrupts your financial life? 

Answer…enough to continue your income for as long as possible.

Long-Term Care:

To protect your assets from erosion, should you require a nursing home or assisted living facility, Long-Term Care Insurance can provide a means to pay for your care.  Without this type of coverage, the erosion of your wealth can be significant and can far outweigh the cost of owning such coverage. 

	Insurances should be based on what you want to have happen in the event of a loss. For most of us, this is how we purchase our homeowners, auto, disability, health, long-term care, personal liability, etc.  When it comes to life insurance, we immediately switch from what we want to what we need. Why?

Life:

Life insurance is a significant part of a successful financial plan and is one of the most misunderstood financial tools available to us.  The amount and type of life insurance placed in a financial plan is critical in protecting your wealth and minimizing transferred dollars for you and your family along the way.

There are circumstances where you may only need death protection and a low, “level premium” is desirable.  In this situation, and when coverage is needed for a “short period of time” - “term coverage” may be the best immediate temporary solution.  Unfortunately, term insurance is often placed in a long-term financial plan as the best and cheapest method of owning life insurance.  Over long periods of time, term life insurance premiums can have an eroding affect on your wealth. 

If you are looking for a place to “accumulate money” that provides the highest level of benefits at their maximum level, “permanent life insurance” is a great choice.   No other financial product offers as many benefits that are crucial to your financial plan. 

What is the difference in what you believe to be true and what is true regarding permanent life insurance? 

• Did you know cash values in a permanent life insurance contract accumulate on a tax deferred basis with tax-free access anytime? 

• Were you aware if funded up to the government limit, permanent life insurance can produce a competitive rate of return while offering guarantees? 

• Did you know cash values held in a life insurance contract are exempt from creditors and judgments in many states? 

• Were you aware in the event of a disability, you may be eligible to have your contributions to your account continue even though you can no longer make payments yourself? 

• Did you know you have liquidity, use, and control of your money while you are working and while you are retired?