My New Blog

Having the right kind of insurance at the right stage of life is an essential part of any good financial plan. Yet, over the years, I've discovered that many people find buying insurance a daunting task. With hundreds of different policy options available for each type of insurance-including health, home, car, and life. Figuring out the kind of policy you should have and the amount of coverage you need can be time-consuming and baffling. Sometimes choosing the type of insurance you need may be difficult...lots of things can add to  your confusion....This is where, as a professional with Atkins and Associates, I can help!

Take for example, a Whole Life Insurance Policy that your agent may have sold you many years ago. I'll bet you're still hanging onto it. "Well, why not?" you might ask. "We all need insurance coverage as we get older, don't we?" Yes , we do. But the kind of insurance you need as you age, is probably not whole life, which is the most useful for young families, as a protection against the death of a breadwinner. You probably do need long-term care insurance, which many people know very little about. Evaluating basic insurance needs at different times in your life is financial self-protection at its most fundamental stage. It involves a primary lesson of planning for financial freedom: respecting your money and being careful about the choices you make with it...You can count on Atkins and Associates to work in your behalf to help you with these decisions and choices.

As you continue to read my blog entries, you may come to realize that you have bought a policy that you do not need. Not to worry...this is a problem that can be fixed, and I will be happy to show you how to fix it. I emplore you to continue to "tap into" by blogs and to always secure new coverage, before ever dropping old policies. A new policy won't help you if something happens to you a week before it becomes effective.

On my next entry, we will begin by addressing the most basic questions about insurance: what type of insurance you need, what kind of policy will work best, and what amount of coverage you should have.

*Compare policies. Always deal with an "independent insurance agent"....one that represents several different companies for your specific risk.

Be sure that your agent "shops around" for you to be certain that you are getting the best policy for your money. Remember, however, that the cheapest policy will not always be the  best one for you.

Don't compare only costs; compare resources and most especially, compare services.

*Ask yourself the following questions:

Have you read every word of the insurance policy that you are buying?

Do you understand the definitions the insurance company uses?

What will your policy specifically cover?

What will your policy specifically not cover?

What will it take to qualify for your benefits?

*Make sure that your agent reviews your policies with you every 2-3 years to make sure that they are still responsive to your needs. ..

Have you made major improvements to your home?

Did your youngest child finish college?

Did you or your spouse become eligible for Social Security benefits?

Have you & your spouse recently divorced?

These kinds of life changes may mean that your insurance coverage should change too.

What is insurance, anyway?

All insurance policies are like a bet between you and the insurance company. The company agrees to reimburse you for the cost of your losses---

for example: the loss of your health, or the loss of your house in a fire, or the premature loss of your life. The insurance provider is betting, however, that over the long run, you will be safe and healthy and pay more in premiums and deductibles than the company will pay you in benefits. Usually the company is right. Your bet---a crucial one---is that maybe it won't be. The premiums you pay and the deductibles that you agree to, buy you the peace of mind that comes with knowing that your assets will be protected....no matter what happens.