119 W Virginia Street
Protecting You from Risk
Here’s a difficult question: What would your family do without you? If you were no longer around, would they have enough to survive and move forward? Many people think financial advisors only specialize in investment management, but in fact we take a more holistic approach to your family’s entire financial wellness, including helping you reduce the impact of certain risks. While most people have some form of life insurance, often it’s not enough…and that’s a scary thought.
At Legacy Planning Group, we can help ensure your family is taken care of in any scenario.
If anyone else depends on you for your income, you should consider whether you’re properly insured. You may have some life insurance in place, but is it enough? And if you don’t have coverage already, it may be more reasonable than you think.
There are many options to choose from, and we can help you identify and evaluate what might be a good fit for you and your family.
Almost 30 percent of people between 35 and 65 will experience some type of disability lasting at least 90 days during their working careers. That can add considerable stress to life and finances. But disability insurance can protect your paycheck if you’re no longer able to earn.
Long-term care insurance (LTC) is a critical but often overlooked component of retirement planning.
Many people think they don’t need LTC because they’ll get Medicare when they retire. But Medicare often doesn’t cover long-term care services like assisted living or skilled nursing care. The U.S. Department of Health and Human Services estimates that 70 percent of 65-year-olds will need some type of long-term care in the future, so it’s a good idea to know what your options are now.
Without proper planning, the burden of providing elder care and nursing services often falls to a spouse or other family member. A plan for LTC coverage can help minimize the financial and emotional impacts on your loved ones if you end up needing these services. Long-term care coverage, like any other insurance, is least expensive when you don’t need it…so it’s a good idea to keep informed and see if it makes sense for you, your family, and your financial future. If you need more details, let’s connect.
Don't Forget Your Beneficiaries
Insurance. We all hope to not need it, but wouldn’t want to be without it if we do. Car insurance… health insurance… life insurance… home insurance… you probably have most – if not all – of these policies and pay for them on a regular basis. But paying for them isn’t where your responsibility ends. You also have to make sure your named beneficiaries and policy owners are up-to-date. This step is critical because if they’re not, the wrong people could benefit if something happened to you.
It’s a great idea to set an annual date to review all your accounts with named beneficiaries…this may go beyond insurance, as even some retirement accounts require you to have beneficiaries. Here’s a list of some life events that may signal you to sit down and review what you have and your plans for them:
Any of these triggers should act as a reminder to look at your policies, accounts and beneficiaries and make sure they still correctly reflect your wishes. If you’d like, you can set your beneficiary review date to coincide with our annual account review, and we can do it together. Let’s get together soon.