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Insurance - Four Pillars of Protection

Disability Insurance: "Paycheck Protection"

You're working hard and saving money.  Why?  If you're like most people you want to retire someday instead of devoting most of your time away from home and family working for someone else.  You want to spend money instead of paying taxes and saving it. One of the greatest risks keeping you from achieving this goal is losing one of the household paychecks that are sustaining your family and the savings plan needed to accumulate wealth.  Any serious attempt at working toward retirement includes planning for a disability that keeps you, or anyone else in your household generating income, from earning a paycheck.   

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Property and Casualty Insurance: "Property Protection"

People accumulate material possessions throughout their lives.  Some of those items have considerable monetary value like jewelry, art, firearms, and collectibles.  Some of them are needed to live a normal life and are used everyday like a car, house, and furniture. Your possessions need protection from loss, damage, theft, or lawsuits brought about by things you can't control. Without adequate protection, you may end up spending so much replacing your losses that you are not saving enough for retirement.  A well designed and maintained property and casualty (P&C) insurance program is an essential part of a sound financial plan.

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Life & Health Insurance: "People Protection"

Our lives have phases aligned with our physical and mental health:

  • Healthy living
  • Occasional illnesses and accidents handled by hospitals/clinics
  • Extended illness outside the hospital 
  • End of Life medical treatments
  • Death    

Fortunately, there are insurance solutions to help us work through these phases of life:

Addressing these realities and risks before deploying your hard earned money into volatile investments with a risk of loss and limited liquidity is an important consideration for investors.

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Annuities: "Income Protection"

You've worked hard to advance your professional career.  It has rewarded you over a lifetime with a salary and benefits for your family. Your accumulated assets are a major part of what will take the place of your paychecks and employer benefit programs once you retire. They also are a target, vulnerable to market risks, economic calamities, changes in tax policy, and lapses in spending discipline that occur when you are retired and have a lot more time on your hands. Retirement assets need protection just like your paycheck did earlier in life. You may be retired three or more decades. Annuity solutions are a way to help ensure that your assets are capable of generating income over long periods of time, throughout various market conditions.  

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There is no guarantee that any investment strategy will be successful; all investing involves risk, including the possible loss of principal.

Annuities are long-term, tax-deferred investment vehicles intended to be used for retirement purposes. Any gains in tax-deferred annuities are taxable as ordinary income upon withdrawal. Generally, annuity contracts have fees and expenses, limitations, exclusions, holding periods, termination provisions, and terms for keeping the annuity in force. Most annuities have surrender charges that are assessed if the contract owner surrenders the annuity.

This is meant for educational purposes only.  It should not be considered investment advice, nor does it constitute a recommendation to take a particular course of action. Please consult with a financial professional regarding your personal situation prior to making any financial related decisions.

10/19