What are you thoughts on insurance and insurance coverage? Have you factored insurance into your retirement planning?
Some of my friends don’t care to fork over the dollars for insurance. A lot of folks don’t even think about the role of insurance on their retirement situation. We only think about our savings and our pension when it comes to income in our golden years. We need to consider the role of insurance.
Why do you need insurance if you want to be comfortable in your golden years?
It’s pretty simple — you don’t want to be out of luck stuck trying to figure out how you’ll cover your expenses. Things happen in life that we don’t expect. Everything doesn’t always go as planned. If you don’t have insurance as a backup plan, you’ll be totally stressed when you realize that you have expenses to pay for that you can’t afford.
Depending on the type of insurance that you get, it will bail you out when it comes to emergency situations.
Without insurance, there’s no backup plan and no peace of mind. The majority of us want to retire stress-free. We worked hard for so many years. Why stress now that we’re done with work?
What sort of insurance should you have for retirement planning?
Nobody wants to think about dying but life insurance is important when it comes to covering expenses in the event that you do pass away. How will your family cover the funeral expenses? Where will they get the money for.
There are different types of life insurance that we will cover another day. For today, we just need to consider the importance of having money available in case we pass or someone in our family passes away early. You don’t want to use retirement savings to pay for an unforeseen circumstance. Once again, it’s not pleasant to think about, but is very important.
You might be strong and healthy now, but anything can happen. All it takes is one bad accident at work or a car accident on your way home one day. Imagine being in an accident before you retire? You now have to figure out a way to pay your mortgage. This could eat into your retirement or just totally throw it off.
I hope that you never have to use disability experience. It’s horrible to even think about. However, the peace of mind will be worth it. You want to be covered if something were to happen to you. You want to know that your mortgage will be covered and that you won’t have to stress about selling your home.
We have covered insurance in great detail in the past. This post is just about the importance of insurance on your retirement planning. Please conduct your own research as every single insurance package is unique.
How’s your insurance coverage right now?
You can check out La Capitale for your insurance needs.