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Robert A. Imparato, Jr CFP®
CERTIFIED FINANCIAL PLANNER™ professional
Craig A. Hyldahl CFP®
CERTIFIED FINANCIAL PLANNER™ professional
R.I.C.H. Planning Group, LLC
105 Fieldcrest Avenue, Suite #507
Edison, NJ 08837
Robert: 732-326-5240
Craig: 732-326-5240
Fax: 732-326-5331
Robert: robert@richplanninggroup.com
Craig: craig@richplanninggroup.com
Website: www.richplanninggroup.com
January/February 2019
Check Your Insurance
It’s the New Year and, if you’re like many people, you may look at various areas of your life to see where there is room for improvement. One area many people don’t explore is their insurance. Are you and your family covered? Consider this three-pronged approach to insurance.
Health Insurance
If there is one type of insurance that’s on most people’s minds, it’s health insurance. Despite its increasing cost, health insurance typically covers expenses that far outweigh the cost of premiums. One way you might reduce your health care expenses is through a Health Savings Account (HSA). If you have a high deductible health plan, you qualify to make contributions to an HSA. Contributions are tax-deferred, potential growth is also tax-deferred and qualified distributions are tax-free.Life Insurance
While the need for health insurance is only an accident away, we hope the need for life insurance is in the distant future. However, hope doesn’t always equal reality and having life insurance can help provide the future financial security you want for your family.As with health insurance, you’ll probably want to take advantage of any group life insurance your employer offers. If you change jobs, though, this coverage could end. Buying an individual life insurance policy outside of the workplace may make sense, especially given the price and design alternatives from which you can choose. Term life insurance provides basic protection at a cost that starts out low, but typically rises with age. Whole life insurance is permanent and its premium payments never go up as long as you pay them on time.
Disability Insurance
Of the three types of insurance, disability income (DI) insurance is the one type of coverage most often misunderstood. Many people get short-term DI insurance for free from their employers, who may also offer group long-term DI insurance paid for by employees. The latter is vital coverage that replaces a portion of what is the largest asset of many people: their ability to earn a living.Your financial professional can help you compare DI and other types of insurance as part of a comprehensive look at your financial protection.
GE-2239656b (09/18)(Exp. 09/20)
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Securities offered through Equitable Advisors, LLC (NY,NY (212) 314-4600), member FINRA,SIPC (Equitable Financial Advisors in MI & TN). Investment advisory products and services offered through Equitable Advisors, LLC, an SEC-registered investment advisor. Annuity and insurance products offered through Equitable Network, LLC, which conducts business in California as Equitable Network Insurance Agency of California, LLC; in Utah as Equitable Network Insurance Agency of Utah, LLC; and in PR as Equitable Network of Puerto Rico, Inc. Equitable Advisors and Equitable Network are affiliated companies and do not provide tax or legal advice.
R.I.C.H. Planning Group, LLC is not owned or operated by Equitable Advisors or Equitable Network. Equitable Advisors and Equitable Network are brand names for Equitable Advisors, LLC and Equitable Network, LLC, respectively.
GE-4833845.1 (7/22)(Exp. 7/24)
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