If it’s been some time since you and your husband had the “life insurance talk,” then let Father’s Day serve as the incentive to sit down and do the numbers. Use the following scenarios as a starting point to evaluate the type and amount of coverage your husband currently carries and consider if it’s enough.
What the survey points out is that pre- and post-retirees continue to need professional advice to make appropriate decisions. Prior to age 65, this means understanding the needs for disability insurance, life insurance and long-term care insurance. After 65, most disability insurance is no longer available, but the need for life insurance to replace lost income continues, as does the need to plan for health care for debilitating illnesses, illnesses which may require care in the home or in a facility.
it can be challenging to find the money to insure against a possible future event when you’re facing real expenses or dealing with an insufficient income right now. It can be tempting to metaphorically cross your fingers and hope for the best, putting insurance on the “deal with it later” list. But before you choose that option, you need to know the real cost of being uninsured.
Everyone who needs their income to survive financially, which is most everyone that works for a living, needs to protect that income. The risk of loss—and the value of the potential loss—are simply too high to ignore at any age.
May is Disability Insurance Awareness Month, so help spread the word about disabilities and the importance of disability insurance. Below are statistics and information that are “tweetable,” meaning you can share them simply by clicking on the fact you’d like to tweet and the tweet will be generated for you.