Life is unpredictable. Sometimes things go according to your plan.
Sometimes they don’t. We’ve all met people who were doing great, but then their financial life got derailed by an accident or other major health problem, death of a spouse, or maybe something else.
If you don’t have protections in place, you could experience a setback, or worse. That’s why insurance is a critical part of your financial plan.
With so many options available in the insurance market, it is important to have a knowledgeable, objective professional in your corner to help you obtain the right amount of insurance protection.
At Cornerstone Financial Group, our insurance specialists review your current insurance portfolio and make recommendations based on your particular situation.
Maintaining the proper insurance coverage is an essential part of a successful long term financial plan. But while insurance is critical, it’s also vital to get the right amount and types of insurance coverage.
Many insurance companies are happy to sell you as much insurance as you want to buy. However, over-insuring can be a waste of money. And buying too little coverage can put you or family members at risk.
Our financial advisors help you determine the right amount of insurance for your particular needs. Then, we will work with you as your life and insurance needs change. Part of our service is helping you evaluate different types of coverage, insurance rates and insurance companies to find the best fit and mix of value and price.
When you’re young, that is the best time to buy life insurance because it is much more affordable. If you wait until you are older, term life insurance may be too costly.
Of course, this should be balanced with need. If you don’t have any dependents yet, you probably don’t have a need for life insurance, but once you start a family or have dependents, that’s the time to start looking.
We include insurance as a part of your financial planning process. That’s the best way to determine your true need, as insurance is a cost and should only be purchased when you really need it.
No matter how careful you are, accidents can happen at any time. And when they do, it may mean time off from work, or even the inability to earn an income. Even if you don’t experience a life-changing disability, you still face a chance of a short term disability that can interfere with your ability to make a living. If you have bills to pay or a family to provide for, you probably need disability insurance to protect you from the potential of lost wages, high medical payments, and other costs.
Your odds of becoming disabled are higher during your working years than the chance of death.* If you’ve got family members that depend on you, you need a plan to provide if something happens to you. That’s where disability insurance can be an important tool. Many people may get basic coverage through their employer, but that may not be enough.
That’s why insurance is best handled as part of a comprehensive financial planning process. We’ll take a look at what you have and help you determine if it’s enough, or if you need to increase your protection.
Insurance is a tool you can use to protect different aspects of your financial life. Because it’s designed to protect first, insurance can be an investment, but it’s usually not an efficient one.
That’s why we recommend that you purchase insurance very carefully. You should always shop around and compare rates so that you can accomplish your goals at the lowest cost. There is no need to pay for additional features, unless you absolutely need them.
At Cornerstone Financial Group, we’ll help you determine the insurance coverages you need, then we’ll help you find it at a fair price.