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You probably own insurance on your house, on your car, on your health and quite possibly on your life. None of it is cheap, and the whole idea of insurance makes many people edgy and uncomfortable. Why?
For a very simple reason. We don't expect to need it. Your house may never be destroyed, you may never cause a car accident that injures or kills someone. If you are under Medicare age, you may never have a long enough hospital stay to justify the high premiums you pay each year. And for the forseeable future you might reason that you probably won't die, become unable to work, become unable to take care of yourself, or outlive your assets. (These last four risks are addressed by Life Insurance, Disability Insurance, Long Term Care Insurance, and Annuities.)
Insurance mostly protects you against terrible things. To some degree, you might also use insurance to help manage the costs of smaller or more predictable expenses such as routine healthcare. But it's the unlikelihood, or the perceived unlikelihood of certain events that makes many people hesitant to purchase insurance. Yes, you know that the things you would be protecting against really do happen to people just like you, but it's not something most people want to think about.
What to do? Understand the risks, the consequences, and the costs of the events you wish to protect against. Quantitatively, in a disciplined way. I can help you do that. Once you understand these, I think you will find that we are blessed with the availability of many financially strong insurance companies that compete vigorously for your business with diverse products at prices aligned with the protection offered.
The key questions to ask yourself, regarding insurance, are: Who am I protecting? What am I protecting them from? How much protection do they need? And for how long? The deeper you dig into your situation, the more you will find that insurance protection really isn't mainly about you - it's about your family.
My personal angle: As a Financial Advisor, I have seen young breadwinners without adequate life insurance die leaving young children without sufficient means of financial support. I have also seen older clients refuse long-term care insurance policies they were offered, and then spend down their entire substantial estates when they needed care, leaving their children nothing. It's not pretty. And I vowed to myself a long time ago that I did not want to allow these things to happen because I failed to talk about them.
So...expect me to talk about them!
If you are skeptical, but unsure if you are adequately protected, I can help. Please contact me here and I'll get back to you: [email protected]