Picture it. It’s a great day on the lake. You’ve caught a lot of fish and got a great tan. Life is good. You decide to take one final run on the wave runner. You try to impress your friends with a trick you really have no business doing and…disaster strikes. Your leg ends up mangled and it’s emergency surgery and three days in the hospital. Worse still, you’re not cleared to work for weeks! But, aside from the leg pain and the bruised ego, you’re not worried. Why?
Because you have short term disability and supplemental insurance from your local Cecil Graves State Farm Insurance Company. You’re covered for up to $3000/ month to pay for your everyday expenses through the short term disability policy, and you got paid $250 every day you were hospitalized thanks to your hospitalization rider.
Your local agents know you and helped you craft an insurance plan for just this kind of disaster. You’re covered.
But maybe extreme sports aren’t your thing. You’d never be caught dead on a jet ski. Well, that same hospitalization and disability coverage can help with any other unfortunate thing life throws at you. If you get seriously ill and spend time in the ICU, you can rest and recover knowing that your bills are being paid for. And if recovery takes more than a few months, a Long Term Disability policy can keep your bills paid for years.
Health insurance is critical, but it doesn’t cover everything you need if you get seriously ill or injured. To fully protect your family, supplemental insurance and disability coverage is essential. As they say in the insurance business: You don’t need insurance until you need it, but then you REALLY need it.
To talk health insurance with a licensed agent, contact John Fabre or Hudson Hornsby with Cecil Graves State Farm at 225-681-5680.
“Life insurance is the most economical and efficient way to transfer wealth to the next generation and to create a legacy for your successors,” says Cecil Graves, insurance agent and owner of State Farm in Zachary.
At Cecil Graves State Farm, we understand that life insurance and death is a scary topic, which is why some people avoid it altogether. Unfortunately, we’ve all seen family members have to set up GoFundMe accounts to cover burial costs of a loved one.
Life insurance can be confusing because it’s not a shelf-type product that you spend money on to enjoy, like a house or car. But without it, the house, the car, the lifestyle can all go away in the event of an untimely death.
A life insurance policy can start with insuring burial costs of up to $25,000, then move up to include liabilities, like the mortgage and a couple of cars. The most beneficial amount we look at is paying off everything except taxes, and including future income for 10 years for a spouse that makes $50,000 a year. This allows the surviving spouse to continue to live off that income without having to change schools, church or neighborhood, or to invest and live off the interest.
The loss of a loved one is difficult enough. A life insurance policy can shoulder the financial burden and make sure your family is taken care of financially long after you’re gone.
Next Pillar: Plan, Profit & Preserve by Dennis Maciasz, CPA