Discussing Financial Wellness

Today we’re going to discuss financial wellness and what to do in case the worst should happen.

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Today’s topic is about financial wellness. Sadly, we had a past client whose family member passed away. This led to them being forced to sell their home because they could not afford the property anymore.

I have many questions for you to consider: Do you know the coverage you have on your home, regardless of what may happen? Whether that is unemployment, dreadful hail damage, burst pipes, a passing family member, fire, and so on. Are you satisfied that you’re covered and you know the risk you’re taking verses the insurance you have? Have you spoken to your insurance agent?

Everyone needs property and casualty insurance on their house. You can go online and get the cheapest quote possible or you can speak to a local broker. It’s up to you. But do you know what your coverage really covers? Do you know what your out-of-pocket expenses are going to be? If you don’t, I encourage you to speak to your insurance agent to uncover the answers to these questions.

Do you know what your coverage really covers?

If something unforeseen happens to your family, will you be able to afford your home? At the end of the day, the best option to help with this is life insurance. We know some wonderful life insurance brokers and we’d be glad to connect you. You don’t want to be over-covered but you don’t want to be in a financial position so tight that if something happens, the surviving members of your family will have to make difficult decisions about where they live.

The same goes for disability; if you have an accident, will you be able to afford your property if you can’t go to work in the same way you did before?

This has been a grim topic today, but I hope it sparks ideas for you. If you want any recommendations for good insurance agents, please let us know. We’re happy to share those with you.

If there’s anything you’d like me to do some research on in the future or anything you want me to discuss in a future blog, I’d be glad to do that. Please contact me by phone or email with any questions. I look forward to speaking with you in the future.

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