What Are My Insurance Needs?
Whatever kind of coverage you’re looking for, your search for the right amount for your needs can start with a few simple questions.
What is my budget?
We live in a world of fixed incomes and a seemingly never-ending increase in the cost of living. So it may not be within your reach to get the “premium” coverage across the board; and that’s okay. Determine how much insurance you can comfortably afford each month, and divvy that budget up among the types of insurance you may need. To determine those types, keep reading this blog and check out the next questions.
What is my risk level?
Different levels of risk may affect how you shop for coverage. For instance, if you lead an exceptionally healthy lifestyle, your health insurance needs may be different from someone who frequents the doctor’s office. This difference in needs could be reflected in a higher or lower deductible. In the same way, traveling sales reps who are on the road more often than not may want to consider their higher risk of potential car-related issues than someone who drives only to the grocery store and back once a week.
How many people depend on me?
This question addresses both the potential number of people impacted by your coverage, but also the impact of your wellness on their lives. For instance, in a family of four, what happens when the bread-winner unexpectedly passes away or becomes disabled? How will you pay for the essentials like the mortgage, utilities and groceries? (Read: Is your M.U.G covered?) Maybe it’s worth carving out a little slice of your insurance budget for a life or disability policy to help ensure your family can survive financially in dire circumstances.
Only you can ultimately determine what the right insurance is for your lifestyle and budget, but we can help you figure out what your options are and how to put a protection plan in place.