All About Insurance

There are several major risks that you face regularly throughout your lifetime
that, if they occur, can cause your financial ruin: major medical bills, major
damage to or destruction of your residence, major lawsuits and the cost of
defending them, long-term disability, premature death, and — especially for
those over age 40 — the risk of extended long-term care.


Your insurance program is in balance if each of these major risk areas are
equally well covered and you’re not spending too much on one area and too
little on another.
Many people have major-loss coverage that’s out of balance. They may have
a good medical plan with high limits, but no coverage for long-term disabilities.
They may have $1 million of life insurance on the breadwinner, but none
on the homemaker. Their home may be fully insured, but they have only
$100,000 of coverage for lawsuits and no umbrella liability policy.
A highly-skilled agent can help you identify imbalances in your insurance program
and suggest the corrective action needed, which is why taking the time
to find the right agent is so important. Most people who buy insurance don’t
take the time to find the right agent for them. They let whoever answered the
phone and gave them the quote be their agent, without any knowledge of that
person’s skill level. And, in the end, they get a less-skilled agent than they
could have had for the same price.