Each year, many of us have to consider changes or updates to life insurance. Maybe this is that time of year for you.
If so, please consider insurance for lots of different things. For example, for your
- Auto and Home (this is obvious, I suppose, but according to one source, up to 20% of NC drivers might have lapsed insurance!)).
- Life (many options are available, depending on your needs and your age).
- Health (basic coverage, Medicare Parts A-D, supplementals, and more).
- Umbrella (protects your assets from high-value claims).
- Business (general liability, errors and omissions or malpractice, life insurance for key-man, etc. – a complicated but essential set of policies).
- Long-term care insurance (protects you from the extremely high costs of care in skilled nursing or assisted living communities. About 75% of all people over 90 end up needing some level of long-term care, according to various organizations).
- Children (insuring your children isn’t a bad plan to protect your investment in them. And later, insurance allows you to pass the coverage on to their families. If your child has special needs, insurance can fund Special Needs Trusts for their protection down the road).
- Estate Planning (many uses, including using insurance for protecting assets, leveraging assets for generations to come, or providing for charitable donations with a minimal up-front cost).
Each of these present different needs, opportunities, and options. You should review them with your favorite insurance agents, but be advised that not all agents will be able to discuss every aspect of your needs. If in doubt, ask questions, and consider shopping around. Price isn’t the only consideration … scope of services, personal attention, proximity to your home or office … all can be relevant is selecting an agent.
Don’t guess about your insurance needs. Find an agent and ask appropriate questions. Ask us if you need referrals.
In my practice, Long-term care insurance is addressed as part of nearly every initial consult. Yes, it is that important. New options make it affordable and well-leveraged for most people. But, like all insurance, it works best and is least expensive the earlier you purchase it (and you should have it before you need it!!).
Here are some related thoughts from my blog postings and website – Operating Agreements, Planning for Special needs, elder law resources
If you want to provide insurance for your employees, check out sites like this one.
Here is a review resource you might find useful for a review of different companies for certain types of personal insurance …
I don’t personally direct you to one company or agent, but if you ask for referrals, I’ll find some names for people my clients or I have worked with who might fit your needs.