Stop Insuring for Everything. Protect against this one thingInvestment Insights
“I don’t want to be worth more dead than alive.”
Actually, I think you do. What I think you really don’t want to do is spend too much money on insurance. You’d rather enjoy life today and NOT think about the inevitable.
I don’t blame you. The thought of passing away premature is not a fun topic.
So instead, you base your purchase of insurance on what your family needs to get by.
Here’s the problem with that. Check your language. “Needs to get by.” Do you really want your family to just “Get By?” And how do you define that amount?
My industry has failed in educating people. Instead we have made it a sales process rather than educating and truly taking care of our clients based on what their hopes and dreams are.
So what’s the answer?
Fully protect for the worse threats. Self-Insure for the small threats.
The worse threats to your family are the threats that attack your income. They are the following:
· Premature Death
· Not having Proper Estate Planning (Legal documents)[BG1]
Think about losing your income. Even if you lost it for two years. How would that affect everything you’ve built up until this point? For most people, it would crush them.
-They would not be able to come back to the lifestyle they were accustomed to.
-Their hopes and dreams may be gone.
Protect your income fully!
You can self-insure for other threats that are not nearly as catastrophic.
Ryan Burklo is a Registered Representative and Financial Advisor of Park Avenue Securities LLC (PAS). OSJ: 333 N. Indian Hill Blvd., Claremont, CA 91711. Securities products and advisory services offered through PAS, member FINRA, SIPC. Financial Representative of The Guardian Life Insurance Company of America® (Guardian), New York, NY. PAS is a wholly-owned subsidiary of Guardian. Quantified Financial Partners is not an affiliate or subsidiary of PAS or Guardian. This material contains the current opinions of the author but not necessarily those of Guardian or
its subsidiaries and such opinions are subject to change without notice. Guardian, its subsidiaries, agents, and employees do not provide tax, legal, or accounting advice. Consult your tax, legal, or accounting professional regarding your individual situation. It is provided for informational and educational purposes only. The views and opinions expressed herein may not be those of Guardian Life Insurance Company of America (Guardian) or any of its subsidiaries or affiliates. Guardian does not verify and does not guarantee the accuracy or completeness of the information or opinions presented herein. AR Insurance License #15319412CA Insurance License #0K24924 #2021-122533 Exp 06/2023