Insurance may seem like something you need once you reach a certain stage of life or have a certain number of dollars in your bank account, but truthfully, it’s for everyone. That said, insurance recommendations are not the same for everyone—quite the opposite! Insurance is a highly personalized financial solution that should reflect your unique needs and situation. It should be reassessed and adapted over time, and it’s always better to start with a small insurance policy now than regret a lack of insurance later.
Here are a few reasons it’s smart to speak to an Interior Savings advisor about your current and future insurance needs. To learn more, please contact us.
Insurance offers essential protection
There are a number of personal insurance policy options including home, auto, travel, recreation, health and life. Additionally, there are different levels of coverage within each of these categories, but they all serve a similar purpose: to protect what’s important to you and preserve your financial health. This may include insurance for your home and vehicle, critical illness policies that will protect your income if you become seriously ill, and life insurance policies that will protect your family if loss of life occurs.
At its very root, insurance is about protecting yourself and your family from financial hardship due to unforeseen or unfortunate circumstances. When these circumstances occur, it’s far better to have protection in place than to find yourself wading through additional layers of stress or difficulty due to financial strain. Life is unpredictable, but insurance can provide security and peace of mind.
Policies are personalized
There is no such thing as a one-size-fits-all insurance policy. Some individuals may want a modest life insurance policy that covers their needs for a specific period of time (until their kids are out of the house, for example) while others want a substantial whole life policy that serves as a tax-efficient strategy for passing wealth to the next generation. There are also plenty of other variations. You can decide on the terms, the coverage amount, the beneficiaries and more—it’s all incredibly flexible and can be designed to reflect your needs. And, it’s often more affordable than you’d expect! It all starts with a simple conversation between you and your advisor.
You can save money by starting early
Oftentimes, it pays to lock in a great insurance rate at a young age (this is particularly true of critical illness insurance policies). Not only will this mean you have the insurance protection you need from a young age, it typically means you’ll get better value over time. That’s an extra win and a smart decision on your part. Well done!
To learn more about insurance options from Interior Savings, please contact us. An advisor in your area would be happy to discuss your needs and make recommendations that work for your life and budget.