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| Emily is the
most precious thing in the world to me. That's why I've
made sure she'll always be taken care of - even if her
mom and I became disabled or died unexpectedly. By taking the time now to make sure we're protected with all the right kinds of insurance, I know she's always going to have what she needs. That's just one more way to show her how much I love her. Planning does pay off! |
| A well-rounded financial plan
includes an insurance program. Insurance helps insulate
you and your family against unexpected financial losses. The first step in evaluating your insurance needs is to determine your risks and the financial impact of each possible loss. Then consider your options for compensating for each loss. Some typical losses are: |
| 1. | Damage to your home, automobile or other personal property; |
| 2. | Liability for damage to another person's property; |
| 3. | Liability for another person's injury on your property; |
| 4. | Loss of wages or income; |
| 5. | Death of a family member; |
| 6. | Total or partial disability of the family wage earner and |
| 7. | Accident or illness in the family. |
| You may not be able to provide insurance
coverage for all the risks you face. So it's important to
prioritize the risks beginning with the one that would
have the greatest financial impact. Then provide
insurance for as many risks as you can afford. Before you purchase an insurance plan, ask yourself these questions: |
| 1. | What potential risks do I face? |
| 2. | What is the chance of the risks occurring? |
| 3. | Would I have enough funds to cover the losses? |
| 4. | Which risks would present the greatest financial difficulty? |
| 5. | How would my lifestyle and family be affected? |
| 6. | What type and amount of insurance would sufficiently cover the losses? |
| When exploring insurance,
it's best to consult with a financial planner who can
provide you with options and make recommendations based
on your complete financial and personal situation. Search our database for information about 10 Questions for Finding Your Financial Adviser - someone who can help you address your insurance needs. |
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