RAGAIN FINANCIAL

Insurance
• Auto
• Health
• Disability
• Long-term Care
• Homeowners
• Life
• Liability

Financial Planners key on two types: Life insurance and Disability insurance.

Life Insurance
Life insurance plays a large role in hedging against the risk of a pre-mature death. Other vehicles are used to hedge against that risk as well (Trusts, Wills, FLP’s, etc.). The amount and type of coverage you need depends on several factors. Debt, family needs, and estate taxes are just a few of the variables that need to be analyzed.

Two basic types of life insurance exist:

• Term Life Insurance

• Whole Life Insurance

Some clients prefer to build a cash-value inside their insurance (Whole Life) and some need to insure a specific time frame (Term Life). Your Ragain Financial professional will analyze your need and recommend a coverage amount.

Disability Insurance
While life insurance hedges against the risk of pre-mature death, disability insurance hedges against the risk of pre-mature disability (being unable to work and generate income). Most coverage will replace around 60% of your income if you become disabled and cannot work.

If you cannot obtain disability insurance or if it is too expensive, another option is an emergency fund. An emergency fund is a savings account that you create that contains between 3-6 months of expenses. It is not as robust as disability insurance, but it does provide some security.