Dusty Answers Insurance Questions

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  1. WHAT ARE SOME OF THE MISTAKES PEOPLE ARE MAKING WHEN IT COMES TO THEIR FINANCIAL FUTURE?
    1. First and foremost, they don’t plan.  You have to plan and plan early for a good retirement and protecting the ones you love.
      1. The more you invest for retirement in your early years, the more time that money has to grow.
      2. Purchasing life insurance to protect your family or business at a younger age when you are healthier is always smart as well.  It can keep the cost down for the rest of your life.

 

  1. WHAT ARE SOME SAFEGUARDS PEOPLE NEED TO BE THINKING ABOUT IN THEIR FINANCIAL PLANS?
    1. Whether you are single, a young family, a business owner or empty nesters, each life stage can have daunting financial pressures. There are steps you can take for your financial security.  The first is to ask yourself, “what would happen if you or your spouse or partner became sick, injured or died?” All of these situations can be devastating to a family’s financial health.  That’s where insurance comes in.  Life insurance can provide family members the resources they need to maintain their lifestyle.

 

  1. I KNOW SEPTEMBER IS LIFE INSURANCE AWARENESS MONTH. HOW CRITICAL IS HAVING INSURANCE IN THE MIX – PARTICULARLY LIFE INSURANCE – AND DO PEOPLE’S NEEDS CHANGE OVER TIME?
    1. Life Happens so it is very critical to have insurance in the mix, and most American overestimate the cost of having that protection for the ones they love.
    2. People needs do change over time; babies are born, children get through college, earning go up, divorces and marriages happen.  All of these life triggers are a good reason to have your life insurance and other insurance products reviewed.  It is estimated that 33% of American don’t have enough life insurance (LIMRA and LIFE Foundation 2013 Insurance Barometer Study)
  1. HOW DO YOU KNOW HOW MUCH PROTECTION YOU’LL NEED?
    1. An easy estimate is to take 8 to 10 time your annual income to determine how much life insurance you need, however there are several easy life insurance needs calculators available online, one I can suggest is at LIFEhappens.org  a nonprofit foundation.
  1. WHERE CAN PEOPLE GET MORE INFORMATION?
    1. I believe your best source of information is a trusted advisor who can help with both educating you about the benefits of protecting your loved ones and advising on the best form of coverage for you.  You can also get online, again I like the lifehappens.org site for general information and tools to help you plan for your own financial future.