Insurance has the remarkable feature of delivering money at the time it is needed at the most critical time. A loss of income due to a disability, the loss of life or the need for long-term care services can upend a financial plan if not considered ahead of time. Working with a team of experts, solutions can be created to try and mitigate these financial risks.
A long-term disability analysis should include:
- Monthly Expenses
- Capital Expenses
A loss of life financial analysis should take into consideration:
- Debt Repayment
- Capital Expenses
- Income Replacement
If there is a need for long-term care services, an analysis should consider:
- Daily Expenses - e.g. home health care costs adult day care or full skilled care expenses
- Capital Expenses - e.g. home modification, caregiver training and care coordination
