Young people rarely think about things like life, health, disability, and long-term care insurance. But the truth is, a huge percentage of the population suffers a disability that prevents them from working at some point in their life, and the majority of aging people will require some form of long-term care before death. What’s more, all people require medical services throughout life, regardless of age, and eventually, everyone’s life does come to an end. Which is why waiting until it’s too late to purchase certain insurance types doesn’t make a lot of sense.
At Harvest Wealth Partners, we understand the importance of life insurance in providing financial security for your family during future events. There is a range of life insurance products available to help ensure that you and your family are protected, no matter what the future may bring. We offer personalized guidance on selecting life insurance options, so you can find the best plan to meet your needs.
You wouldn’t drive your car without insurance – doing so would be way too risky (not to mention against the law). Similarly, it’s unlikely that you would live in your house without homeowners’ or renters’ insurance, as you want to protect your property as much as possible.
So why wouldn’t you get insurance to protect your life and financial wellbeing as you navigate the future, too?
While not all types of insurance are always necessary, there are some insurance types that can truly provide big benefits to policyholders. Our team can help you to understand the types of insurance available, and which type of policy may be smart for you to purchase.
Life insurance is an important tool for individuals and families to consider for their financial planning. Term insurance policies offer insurance coverage for a specific period, such as 10 or 20 years. During that time, the insurance holder’s beneficiaries can receive the insurance proceeds if they pass away while the policy is still in effect. Whole-life policies are more permanent and have a savings component that builds cash value over time. Premiums on whole life insurance tend to be more expensive than term insurance. However, this may not be the case, depending on individual needs and circumstances. The long-term and potentially increasing benefit of a whole-life policy might make it a worthwhile investment for those who want to provide for their beneficiaries even after death. The financial planners at Harvest Wealth Partners can help you explore all your life insurance options and make sure you are making the best decision about your future.
We also provide insights on selecting long-term care insurance, which can help to ease the financial burden of long-term care for yourself or your dependents. We can help you identify and analyze long-term care policies designed to help provide the financial security you need for the future, ensuring that you and your family are prepared for any unexpected events.
Long-term care insurance can help ensure financial security in the future. This insurance helps cover the costs associated with certain ongoing healthcare needs, such as living in a nursing home or part-time assisted living. It is designed for individuals that require medical and non-medical assistance and may struggle to afford such costs without insurance. Having this insurance can also bring confidence knowing that you and your loved ones are financially prepared if something were to happen in the future. By planning now, you are giving yourself the best chance at assuring financial protection when it matters most.
Long-term care, such as nursing home care, hospice care, and assisting living can be very expensive, costing hundreds of thousands of dollars. Long-term care insurance is a type of insurance that helps to pay for these costs. There are many things that affect the cost of a long-term care insurance policy, including how old you are when you buy the policy, how much coverage you want, and more.
Whether or not you should have health insurance isn’t a question; health insurance is a must. The issue, however, is where you should obtain health insurance, whether or not you should use Medicare when you become eligible of age, and what type of policy you should purchase. We comprehensively review your situation to advise you in regards to picking a plan that’s right for you.
Disability insurance can be a very important type of insurance for some people. Indeed, disability insurance provides compensation to help pay for a person’s monthly expenses in the event that they are disabled and unable to work. Common disability insurance policies include long-term disability insurance, short-term disability insurance, mortgage disability insurance, and individual credit disability insurance.
At Harvest Wealth Partners, we also offer annuities to help you expand your sources for retirement income. Annuities can provide guaranteed income for life, allowing you to retire with confidence of having the financial income you need in retirement.
An annuity is insurance that can help individuals and families save for their financial future. It involves periodic payments invested into a type of insurance contract to provide benefits over a certain amount of time, depending on the individual’s needs. Annuities offer economic stability, allowing the investor to live off their income with confidence of not outliving their money or facing market volatility. They are an important part of many clients’ financial strategies and can provide a predictable future income stream. Ultimately, an annuity is one tool among many in the financial planning process that helps long-term management of finances and allows individuals to reach their savings goals.
Insurance can be a critical component in protecting and building your wealth. At Harvest Wealth Partners, we can help you understand the potential benefits and risks of various insurance products and guide you in selecting the ones that best align with your financial goals. Contact us today to get started.
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