Is it a boy or a girl? Life changes and so should your insurance

What color car? You’re getting married? Is it a boy or a girl? You want a four bedroom house? Was he drunk? How big a power boat? What colleges is she visiting? What’s the prognosis? She left you how much?

Life comes at us in stages and usually in slow motion. A lot of what we experience is an outcome of planning and hard work. But then again, life can happen in ways we least expect – a health issue, an injury, an accident, a fire. Let’s look at some of these life events.

The New Car: Leather seats, sparkling paint, new car smell. Nobody better touch this baby. So, when you buy insurance, you ought to buy more than just liability coverage (protection to pay others for injuries or property damage you may cause) – you ought to buy collision insurance, as well, to repair this brand spanking new road chariot.

The Marriage: You’ve pledged yourselves to another for a lifetime. You’re a unit. But, if something happens to one of you, what will the survivor do to pay the debts you’ve incurred together? It’s time to buy some life insurance that smoothes the transition and allows your spouse to move forward.

The Baby: Who knows what this little bundle is going to turn out to be. Hopefully, you’ll have the fun of seeing it all unfold over a long and healthy life. But if something should happen to one of you, how will those you leave behind pay the bills or afford college tuition. Another reason for life insurance.

The House: It may be a modest house but it’s yours and you’ve gone into debt to own it. You expect to keep your jobs and earn more as time goes by. But if you’re unable to work or if one of you dies, then what? Disability insurance and life insurance can help meet those obligations and remove the worry that comes with financial challenges.

The Accident: It could be your spouse, your teen or the guy who crossed the median. Bad decisions, like drinking and driving, often have consequences that take a huge physical and financial toll on a family. Minimum liability limits on your insurance may not cover today’s expenses or the legal bills. You ought to know what your auto policy covers.

The Boat (and all the other family toys): Boats and other recreational vehicles are ways to have fun as a family and enjoy the outdoors. But weather, excitement and distraction can derail all the fun. Getting those toys insured can keep you all focused on the pursuit of happiness and new adventures.

The College: A college education costs a lot of money for which you or children will go into debt. Whoever signs the loan for that debt obligates themselves or their survivors to its repayment. This is another life or disability insurance conversation to ensure those left behind aren’t crushed by student debt.

The Prognosis: Even if you take a great care of yourself, the lottery of life can deliver devastating news of chronic or life threatening illness. Once you’ve been diagnosed, you can’t buy life or disability insurance at anywhere near the price of someone who is healthy – if at all. Now is the time to make decisions about life and disability insurance for the things over which you have little control.

The End: If you want to leave something behind for the people and organizations you’ve cared most about, a life insurance policy can be an affordable legacy. Whether it’s your heirs, a pet shelter, college fund, library or snow mobile club, you can make a substantial contribution through life insurance that will endure long after you’re gone.

Life happens but you don’t have to be victim or expose your family to the hardship of not being properly insured.

Ask us here at Clark Insurance. We know more so you can worry less.

Photo by Salmanrobin