Risk & Insurance
How Can I Insure My Future?
Insurance Planning – The selection of the appropriate mix and amount of insurance is essential of every plan. This includes not only life insurance which is necessary to meet liquidity, future income, and wealth transfer needs, but also disability insurance, disability buy-out insurance and long term care insurance.
Long ago, we figured out there is strength in numbers. For hundreds of years, people have been joining forces against all kinds of calamities — including financial troubles.
The concept of insurance is simply that if enough people can pool their money to form a large enough fund, then together we can handle practically any financial disaster. Your motivation for contributing to this fund is your own eligibility to draw from it if the disaster happens to be yours.
Keystone can help you with:
Life Insurance — a contract between you and a life insurance company that specifies that the insurer will provide either a stated sum or periodic income to your designated beneficiaries upon your death.
Health Insurance — a contract that compensates the insured for expenses of loss incurred for medical reasons, as through illness or hospitalization.
Long Term Care — a variety of services that include medical and non-medical care to people who have a chronic illness or disability.
Individual & Group Disability — coverage for employees that will protect their income should they become disabled and unable to work.
How much insurance do you need? Don't insure yourself against misfortunes you can pay for yourself. Why gamble all that money that misfortunes will happen? If they don't, you're way ahead. If they do, it will usually cost you less in actual costs than the insurance premiums you would have paid.
What kind of policy is best? Broader is better. Cover as many misfortunes as possible with a single policy. Carefully examine policies that exclude coverage in certain areas. These are called policy exclusions.
Whom should I buy it from? Consider buying from financially strong companies. You may save by buying multiple policies from the same agent. Shop carefully. There is strength in unity. Join the party, but only buy what you need.
© 2007 Emerald Publications