Replacing Your Life

Key Takeaways

  • Life insurance is important to have if you have dependents and are a high income earner.
  • Term insurance and Cash value insurance are the two types of life insurance.
  • There are different benefits to each type of life insurance, so it’s important to know the advantages and disadvantages of each to determine what fits for you and your family.

Auto Protect your Future

Key Takeaways

  • Insurance is an automatic requirement for financial institutions and regulators, but you must go through the underwriting process to obtain it.
  • There is property insurance that protects our property from unforeseen events, and casualty insurance that protects us from claims brought upon us by others.
  • Choose an umbrella policy to gain overall coverage to protect your accumulated assets.

Prudent Protection

Key Takeaways

  • Insurance helps reimburse us for the losses we incur over our lifetime.
  • The two kinds of insurance cover us and our property. Life and health insurance covers us, and you can get insurance for any kind of property, for a cost.
  • Choose higher deductibles to keep your insurance premium payments low, if it fits your personal situation.

Healthy Con$equence$

Key Takeaways

  • Medical bills are the number one reason for personal bankruptcy, so take a look at your health insurance options before deciding against coverage.
  • Health insurance helps defray the costs of medical care and is provided through your employer, or bought personally through health care exchanges.
  • Premiums, deductibles, co-pays, and the option for dental and vision coverage are all costs associated with health insurance.
  • Flexible Spending Accounts and Health Savings Accounts are both great tax-advantaged health insurance options.