Insurance: Which do you need?

You need a financial plan that will protect your assets, including your home, income, loved ones, and health.  Insurance can seem expensive, but it’s much more expensive to need it and not have it.

There Are 5 Insurance Policies that Everyone Should Consider.

  1. Life Insurance
    Nobody likes to think about the possibility of dying early, but it’s better to plan ahead than to leave the people you love financially unprepared to deal with your loss.  Life insurance protects people who depend on you financially if you die.  You want to make sure your loved ones can cope with the following types of expenses:
    • Replacing your income
    • Expenses related to any illness
    • Funeral expenses
    • Debts, such as a mortgage
  2. Health Insurance
    Health insurance is expensive.  However, the cost of having a medical emergency without insurance can be catastrophic.  Many bankruptcies could have been avoided if people had been carrying adequate health insurance when they became ill.If you are struggling with crippling medical debts, we can help you with them.  If you aren’t, buy health insurance to protect yourself and your family from the costs of a medical emergency.
  3. Long-term Disability Insurance
    Disability insurance replaces a portion of your lost income if you become unable to work.  The cost of the policy will depend on your age, current health, and the amount of income replacement you’d like to have.  Policies also have different definitions of the word “disability.”
  4. Homeowner’s Insurance 
    If you own a home, you should carry homeowner’s insurance.  The cost is very small compared to the cost of replacing your home or its contents.  Homeowner’s insurance also covers the cost of any injuries that may occur on your property.  There are many options for homeowner’s insurance policies; shop around to find the one that is best for you.
  5. Automobile Insurance
    New York State law requires you to carry automobile insurance if you own a car.  Without automobile insurance, you could face a lawsuit that could cost you everything you own.  Make sure you have the coverage you need, not only for your vehicle, but to cover your liabilities as well.

Do your research and find an insurance professional you can trust.  When considering insurance, weigh the cost of not having it before deciding to skip it because of the price.


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