Lets Talk Money Online - Help protect your wealth with insurance

How do people preserve their wealth? In some cases, they make sure they have life insurance to help financially protect loved ones if the unthinkable occurs. And for most people, their largest potential asset isn't a home but their ability to earn an income, which is why they often own disability income insurance.

Or you might even consider health insurance as a way to help preserve your wealth. This is especially true in the 21st century, as health care costs continue to grow.

One of the Merriam-Webster Online definitions of insurance is a means of providing protection or safety. Think about that definition for a while. Protection or safety. When you consider these three types of insurance as nothing less than providing some protection against the financial consequences of losing your life, your income or your health, it is almost amazing that not everybody puts owning these insurance policies at the top of their lists.

Sure, there are reasons why we put off owning insurance. Who wants to think about death, disability or a health problem? We don't want to, yet we need to think about insurance if we are to protect our loved ones financially. Few things can help financially protect them as cost-effectively as insurance.

Why debate about the need to provide protection against events that can drain you financially? Start by making sure you have at least a minimum of life, disability income and health insurance. If you're young and generally healthy, term insurance can offer you the least expensive life insurance, especially during the early years of the policy. Want life insurance with potential cash value and perhaps level premiums? Consider permanent life insurance instead. Remember that term insurance premiums will increase after each level premium paying period and continuing the coverage may require that you qualify health wise.

Owning disability insurance can be as important as owning life insurance because of the devastating impact a lost income can create. You can sometimes acquire this and life insurance through group insurance policies at work. Finally, health insurance is a necessity in today's world. Even a young adult can go into debt without having insurance.

Health insurance is typically provided through the workplace, although you can buy an individual policy regardless of whether your employer offers group coverage. A licensed financial professional can tell you more about disability income and life insurance and show you individual insurance contracts that may provide more complete protection.

This is an advertisement prepared by LTM Publishing, Inc. for the use of the sender. The advertisement provided is not intended as legal or tax advice and may not be relied on for purposes of avoiding federal tax penalties. All individuals, including those involved in the estate planning process, are advised to meet with their tax and legal professionals. The individual sponsoring this newsletter will work with your tax and legal advisors to help select appropriate product solutions. We do not endorse or guarantee the content or services of any website mentioned in this newsletter. We encourage you to review the privacy policy of each website you visit. Limitations, restrictions and other rules and regulations apply to many of the financial and insurance products and concepts presented in this newsletter, and they may differ according to individual situations. The publisher does not assume liability for financial decisions based on the newsletter's contents. Great care has been taken to ensure the accuracy of the newsletter copy at press time; however, markets and tax information can change suddenly. Whole or partial reproduction of Let's Talk Money® without the written permission of the publisher is forbidden. ©LTM Publishing, Inc., 2010.

We Value Your Input... Your feedback is very important to us. If you have any questions about any of the subjects covered here, or suggestions for future issues, please don't hesitate to call. You'll find our number on the front of this newsletter. It's always a pleasure to hear from you.