Insurance is protection. While everyone hopes they never use it, it’s meant to provide financial assistance when you need it. Insurance can help protect your life and your ability to earn income and help keep a roof over your head. As you evaluate the potential gaps in your insurance coverage, consider which policies make sense to include in your short- and long-term financial plan. 

Insurance Calculators

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What kind of insurance do I need?

With so many types of insurance, it can be difficult to decide what you really need. Purchasing the right type and amount of insurance is determined by your specific situation. Factors like children, age, lifestyle and employment benefits are important to think about when you're building your insurance portfolio.

Life Insurance

Life insurance is designed to protect your beneficiaries in the event of your death. It can help compensate your family for your lifetime income or provide cash to pay debts or expenses you leave behind. Adding life insurance also can benefit the organizations you care about.

Use these questions to help you identify your concerns and goals for life insurance:

1. What do I need to protect? Everyday expenses, childcare, medical expenses, college tuition or wedding plans?

2. Am I worried about taxes for myself or my family?

3. Is my retirement portfolio going to last? I’ve contributed as much as I could, and I don’t think it’s enough.

Disability Insurance

If you were in an accident tomorrow and couldn’t work for six months, how would you pay your bills? This is where disability insurance comes in. It protects your income (and you) if you can’t work due to injury or illness. 

Your ability to earn a living is probably your biggest financial asset, especially if you’re younger. If you were disabled or couldn’t work in the early part of your career, your potential lack of income could cost you a considerable amount of money over the course of your lifetime.

Decide whether disability insurance is right for you, and if so, how much coverage you might need. 

Long Term Care Insurance

Long-term care insurance is one way to prepare for taking care of yourself later in life. It covers several services that regular health insurance doesn’t, such as assistance with routine daily activities like bathing, dressing or getting in and out of bed. A long-term care policy helps fund the cost of that care when you have a chronic medical condition or disability, for example, Alzheimer’s disease. And most policies will reimburse you for care given in your home, a nursing home or an assisted living facility.