HEALTH & INCOME PROTECTION PLAN

HOW TO CHOOSE How to Choose Best Health & Income Protection Plan

What is the best Health Insurance Plan for me?

How much Life Insurance is enough and what kinds do I need?

How much money do I need monthly from a Disability Income policy to pay my bills and keep the family going?

What is the right monthly amount to put into a Retirement Plan and how should I invest it to plan for a comfortable retirement?

If it seems like finding the best use of your money is like a maze these days, it’s likely because of all of the options available to each consumer. Every advertisement promises the biggest and the best and tells you how easy it is to make the right decisions. It’s when you sit down and try to figure out which route to take that you start to get dizzy! The first tip: find an advisor to help you work through each – buying the cheapest coverage can be your biggest mistake and you won’t know until you need it.

HEALTH INSURANCE

Which services do I really need? High deductible health plan (HDHP)? Which company has the best network or doctors and hospitals? Can I see specialists or go out of town and still have coverage? An advisor can show you a number of plans with various carriers to get the most out of your health insurance dollar.

LIFE INSURANCE

“Buy term life and invest the difference” but invest it where? Whole life is a solid, tax-deferred product that also protects your family and, if used properly with term insurance, can be a good tool for life protection AND retirement funds.

Guaranteed term life insurance is an excellent way to protect for your family, mortgage, other loans and college educations with a premium you can plan on for ten, fifteen, twenty or even thirty years. Getting the proper mix is where your advisor can really help.

DISABILITY INCOME

How much money do I need every month to pay the mortgage, car loan, get groceries – what is the minimum we can get by on if I can’t work? Do I have any of this from my employer? Is the benefit taxable? Does it pay to age 65 or just two years? It’s true that Disability Income is the least sold and most-needed insurance and more homes are lost to disability each year than by fire. Your advisor can work you through that calculation.

RETIREMENT

IRA? 401(k)? How much of my wages should I defer? How much does my employer match each month? What tools should I use to decide how much money I will need when I retire? Where do I find the information on how to diversify my retirement money? The best advice is probably that you just need to start saving EVERY MONTH and vow to never touch that money unless it’s an emergency. A solid investment routine into the right retirement funds will go a long way to ensure you have a comfortable retirement. If you are committed, your advisor can help you get there.

Article contributed by The Sinnott Agency

Dustin Fadiga Financial Services

Julie Heidt Health Insurance

www.sinnottagency.com

When you hear The Sinnott Agency your first thought may be Home Insurance or Auto or Business Insurance. But did you know that we also have experts in Health and Financial Services? Call Julie and Dustin and let them help you get organized! They will work with you to find the best coverage at competitive prices with the leading insurance companies.

Group & Individual Health Medicare Supplement Prescription Drug Coverage Short Term Major Medical Group & Individual Life Insurance Disability Income - Group and Individual Estate Planning Long Term Care