Benjamin Rich Financial Advisor A9JC-0608-17 Protection
Everyone needs it
Most are concerned about having enough to
- Maintain lifestyle
- Protect the ones we love
- Food, Shelter, and Clothing
- Vacations, Education, Retirement
And Much More…
Money Pays For:
It is often recommended that an emergency fund should equal 3 to 6 months’ total income.
$114,000 in earning should equal $28,500 to $57,000 in reserves…
“ What’s in Your Wallet?”
Are You Prepared for an Emergency?
Protecting what you’ve built– for yourself and for the people who depend on you– in the event of:
- A long-term illness
- An injury or accident
- Premature death
Will your current assets be sufficient to cover any unforeseen contingencies?
The Definition of Protection
Food and clothing
What Will Your Family Have To Give Up To Cover These Unpaid Expenses?
Life Insurance– Are you protected?
- Life insurance can provide an income tax-free lump sum payment that can be used to settle debts or provide a monthly income stream for your family.
- Disability insurance provides a monthly income to make up for lost wages should an accident, sickness or injury prevent you from working at your regular occupation. Benefits are generally received income tax-free.
Two Effective and Affordable Answers:
Who Need Life Insurance?
- Individuals with college loans
- Young parents
- Families with children who may someday attend college
- Homeowners with a mortgage
- Parents of children with special needs
- High-net-worth individuals who may face estate taxes
- Business owners
- Anyone who depends on their income to provide for them or their children
You May Already Have Life Insurance, But Is It Enough? Think About All Of Your Monthly Obligations, And Which Of These Are Of Concern To You Or Your Family:
- Final Expenses
- Debt repayment
- A Place to Live
- Monthly Essentials
- Non-Essential Lifestyle Needs
- Emergencies & Opportunities
Other sources of income are important, but will probably not be enough to maintain your family’s standard of living.
Savings & Investments– Will your current savings strategy cover the expenses?
Social Security– Usually only provides a benefit to surviving spouses caring for unmarried children under 18, or until he or she turns 60. Even if your family qualifies -- will it be enough?
Employee Benefits– Life insurance provided by your employer is usually group term, which does not build cash values and is not portable.
Other Sources of Income:
Term Life Insurance
Permanent Life Insurance
- Whole Life
- Universal Life
- Variable Universal Life
- Survivorship Life
Types Of Life Insurance:
Think It Won’t Happen To You?
If You Become Disabled, Here Is What You Could Expect:
- Your income will decline or stop, while your expenses and debt increase.
- Your savings and investments will be drained.
- Your family’s standard of living will drop abruptly.
- Your capital accumulation plans will be put on hold.
How Well Prepared Are You?
Disability Insurance– Do You Need It?
How much is the monthly benefit payment?
When do benefits become payable?
How long does the benefit payment last?
Do you know how your policy defines “disability”?
Disability Insurance– Do You Own it?
Fixed Living Costs
The Nature of Your Work
Access To Worker’s Comp
- How Much? How Long? When Would It Start?
Other Sources of Income
Knowing these answers can help you determine the kind of coverage that would be best for you.
Consider The Basics:
Who Will Pay You An Income If You Become Disabled?
- Savings Can Be Wiped Out Quickly
- Sell Investments : Will you get full value?
- Loans : Will you be eligible without income?
- Family, Friends, and Charity : Do you even want to consider this?
Disability Insurance provides needed income and peace of mind.
The sooner you start planning, the less expensive it will be.
Do You Have Your Bases Covered?
- Examining your current circumstances
- Identifying your goals and objectives
- Developing a plan to achieve those goals and objectives
- Taking action to implement your plan
- Periodically reviewing your plan.
A Secure Financial Future Doesn’t Happen by Accident…
Proper planning today will help you protect yourself, your family and the things that are important to you.