One of the core principles of financial planning is protecting against loss. Before you ever start investing in the market to try to grow your assets, it is important to make sure that you have something in place to protect what you already have. These are the things that you cannot afford to lose in the case of an accident or injury that would result in you not being able to work and provide for your family or even worse. If an accident took you away from your family altogether, how would they make it financially without you?
The Social Security Administration estimates that when someone enters the workforce, they will have a 25% chance of being disabled before they reach full retirement age, and it is not just from accidents and injuries. Other studies, such as the Annual Statistical Report on the Social Security Disability Insurance Program, show that 75% or more of all disability claims are related to illness.
If you have questions about whether you have adequate life and disability insurance coverage, give us a call to schedule an appointment to meet with one of our professionals either in person or virtually. We will sit down with you to help determine what you need and how to make sure that you are protecting your income, your family, and your peace of mind.
Fi Plan Partners is an independent investment firm in Birmingham, AL, serving clients across the nation through financial planning, wealth management and business consulting. Fi Plan Partners creates strategies in the best interest of their clients using both fee based investing and transactional investing.
The opinions voiced in this material are for general information only and are not intended to provide specific advice or recommendations for any individual. All performance referenced is historical and is no guarantee of future results. All indices are unmanaged and may not be invested into directly.
This material contains only general descriptions and is not a solicitation to sell any insurance product or security, nor is it intended as any financial or tax advice. For information about specific insurance needs or situations, contact your insurance agent. This article is intended to assist in educating you about insurance generally and not to provide personal service. They may not take into account your personal characteristics such as budget, assets, risk tolerance, family situation or activities which may affect the type of insurance that would be right for you. In addition, state insurance laws and insurance underwriting rules may affect available coverage and its costs. Guarantees are based on the claims paying ability of the issuing company. If you need more information or would like personal advice you should consult an insurance professional. You may also visit your state’s insurance department for more information.
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