Insurance: protecting against the unexpected

Why Insurance Matters

There are many different types of insurance, but they all have a similar purpose: to protect you and your loved ones against the cost of accidents, illness, disability, and death. When thinking about insurance, ask yourself: what are the core things I need to protect? Then work with a financial advisor to determine the best policy options for you.

Types of Insurance

Insurance comes in many forms. The type and amount of insurance you select will depend on your age, economic situation and what you are protecting:

• Family or assets/wealth
• Business
• Collateral (such as a vehicle or property)

The most common types of insurance policies include:

• Life Insurance: Life insurance protects your loved ones. If something should happen to you, it ensures that they have enough money to pay off any remaining debts and final expenses. It can also provide for future living expenses.
• Disability Insurance: If you are unable to work due to illness or injury, disability insurance will enable you to continue to receive an income.
• Long-Term Care Insurance: If you develop a chronic illness or become disabled and can no longer care for yourself for an extended period of time, long-term care insurance provides extended care services.

How Much Does Insurance Cost?

Insurance is less expensive than most realize, and the price has actually come down in recent years.

To determine how much insurance you need, think about:

• How much money is necessary for my family to meet immediate financial obligations?
• How much future income is needed to sustain my household?

If you’d like to learn more about insurance, contact Tech Wealth Management at 800.851.8549, set up an appointment, or email us.