Preparing for the worst is no fun, but it’s vital. Mark Albers, a senior financial advisor at Wipli Hewins Investment Advisors in Appleton and Green Bay, Wisc., tells us what insurance we need to protect us and loved ones against foul fortune.

When you think about the future, it’s usually pleasant: your child’s college graduation ceremony, or retirement years filled with travel and adventure. But unfortunately, most of us don’t think about preparing for the bad stuff that can happen.

That means insurance. Here are a few tips to help you secure the right insurance for the people and assets that matter most to you:



Life Insurance

To protect future income, perhaps the first type of insurance you might think of is life insurance. For an earner passes away prematurely, his or her surviving family not only has to cope with the emotional loss of a loved one, but also the loss of their income.


Term insurance is often the best option to address this need, with its low cost structure and flexibility to match the length of coverage to the anticipated length of your working career. When researching options and evaluating your needs, you may want to seek out a qualified insurance consultant, who can help you consider things like the stability of carriers and how to best navigate the underwriting process for larger policies.

Factors like living expenses, future college expenses and mortgage and other debt payments are all common considerations when determining how much coverage you should purchase.


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