What if one day you got sick or injured and couldn’t work?  How long could you go without a paycheck?  Where would you go for help?

If you get hurt or sick and can’t earn your regular paycheck, disability income insurance can pay you a monthly benefit amount.  With it, you can make ends meet until you’re back at work.

We recommend to our clients that they should consider the following options to put their tax refund to work for them:

• Set up an emergency savings fund. Simply essential. The old conventional wisdom advised saving enough money to cover three to six months of unemployment. Many financial professionals now recommend keeping enough money stashed away to cover six months to one year of unemployment.

• Buy life insurance. Many people have only the life insurance plans offered by their employer. But your family needs protection whether you’re working or between jobs. There are two basic types of life insurance: term and permanent.  A financial professional can help you determine the type and amount of protection you may need.

Enjoy life knowing that you’re protected from the unexpected!

Month after month people pay their auto insurance premium wondering why they really have to pay that bill, besides the fact the state requires at least a minimum amount of coverage.  The state minimum is 25/50 in liability coverage.  So, the at-fault driver’s insurance company will pay up to $25,000 per injured person, up to a maximum of $50,000 per accident to cover expenses such as bodily injury, surgery, as well as damage to the cars. 

If you’re in a car accident with a family of four in their 2010 Mercedes and the police report names you as the at-fault driver, you had better hope that the amount of auto insurance coverage you have meets or exceeds those damages.  Otherwise, their attorney will get the money out of your estate, or even garnish your wages to be able to pay for it.  Call your insurance agent to make sure your coverages meet your needs.  You should review your policy at least one time per year to keep up with the changes in your life.

One of my clients recently called me because they received a certified letter from an attorney’s office.  He is being sued because a delivery person is claiming to have injured themselves on my client’s driveway while delivering a package to their front door.  My client had no idea of this having occured last winter and is very concerned about how this lawsuit is going to effect him and his family.  As his insurance agent and claims advocate, I am working on his behalf to protect his assets as well as his family’s future.  I perform protection reviews at least once each year with my customers to make sure their insurance coverages on their home, auto, umbrella, rental properties, motorcycles, boats, and businesses meet their needs.  Make sure you let your agent know of any changes that occur in your life, such as having a new baby, buying a car, or opening a new business.