Over the years, I have seen many insurance mistakes. Here is a list of them:
1) Delay putting in place coverage until it is too late. Acquire when you are healthy.
2) Not understanding all possible risks if you are underinsured
3) Underestimating income replacement when factoring in how much coverage that you need
4) Life insurance viewed as an expense. It can be an asset
5) Acquiring mortgage insurance through a bank
6) Older individuals regret taking permanent insurance at an earlier age
7) Not reviewing your policy on a regular basis
8) Not telling anyone about your policy. Beneficiaries should be aware of plans in place
9) Single people overlooking ways to protect their income
10) Beneficiaries receive a lump sum to help offset the financial impact of someone close to them passing. Nonetheless, permanent life policies can assist in providing a number of different benefits such as inheritances, legacies, countering taxes, equalization of the estate, diversify an investment portfolio, and final expenses.
Insurance isn’t just about financial security. Insurance is about people. It’s about the people we love. It’s about keeping them safe. We all have something worth protecting. Please let us know if you require further information.
Sincerely,
Mike Busby (6-Apr-23)
THE COMMENTS CONTAINED HEREIN ARE A GENERAL DISCUSSION OF CERTAIN ISSUES INTENDED AS GENERAL INFORMATION ONLY AND SHOULD NOT BE RELIED UPON AS TAX OR LEGAL ADVICE. PLEASE OBTAIN INDEPENDENT PROFESSIONAL ADVICE, IN THE CONTEXT OF YOUR PARTICULAR CIRCUMSTANCES. THIS ARTICLE WAS WRITTEN, DESIGNED AND PRODUCED BY MIKE BUSBY FOR THE BENEFIT OF MIKE BUSBY WHO IS A FINANACIAL ADVISOR FOR BRANDON LINDSAY INSURANCE AGENCIES, A TRADE NAME REGISTERED WITH INVESTIA FINANCIAL SERVICES INC., AND DOES NOT NECESSARILY REFLECT THE OPINION OF INVESTIA. THE INFORMATION CONTAINED IN THIS ARTICLE COMES FROM SOURCES WE BELIEVE RELIABLE, BUT WE CANNOT GUARANTEE ITS ACCURACY OR RELIABILTY. THE OPINIONS EXPRESSED ARE BASED ON AN ANALYSIS AND INTERPRETATION DATING FROM THE DATE OF PUBLICATION AND ARE SUBJECT TO CHANGE WITHOUT NOTICE. FURTHERMORE, THEY DO NOT CONSTITUTE AN OFFER OR SOLICITATION TO BUY OR SELL ANY SECURITIES. MUTUAL FUNDS OFFERED THROUGH INVESTIA FINANCIAL SERVICES INC.
