Insurance Planning: How to Protect Your Health, Wealth, and Peace of Mind
Let’s have a grown-up conversation about something most people avoid until it’s too late: insurance.
I know—just reading that word might make your eyes glaze over. But hear me out. Because the truth is, insurance isn’t just paperwork and premiums—it’s protection. It’s about safeguarding what matters most: your health, your income, your family, and your future.
Think of it this way: You work hard to build your life. Insurance helps make sure one unexpected crisis doesn’t tear it all down.
Let’s break down what you really need to know—without the jargon.
Insurance doesn’t mean you expect the worst. It means you’re prepared to face it head-on.
1. Life Insurance: Peace of Mind for the People You Love
If someone depends on your income—whether it’s your spouse, kids, or even a business partner—life insurance is essential.
Types of Life Insurance:
Term Life: Affordable, simple, and covers you for a set period (like 10, 20, or 30 years). Perfect for protecting young families or paying off a mortgage.
Whole Life or Permanent Insurance: More expensive but lasts your entire life and can build cash value.
When Life Insurance Matters:
You have young children or dependents
You carry significant debt
You want to leave a financial legacy or cover final expenses
💡 Tip: Start with a policy that covers 5–10x your annual income—or more if you’re the primary earner.
2. Health Insurance: Your First Line of Defense
Medical care isn’t just expensive—it’s often unpredictable. Health insurance helps you manage those costs without derailing your finances.
Coverage Should Include:
Preventive care: Screenings, vaccines, annual exams
Emergency services: ER visits, surgeries, hospital stays
Prescriptions and specialist visits
Mental health care
Whether it’s through your employer, the ACA marketplace, or a private plan—having some level of coverage is non-negotiable.
💡 Tip: Review your policy every year during open enrollment—especially if you’ve had a health change or added a family member.
3. Disability Insurance: Protecting Your Income When Life Takes a Detour
Think of this as income insurance. If an illness or injury prevents you from working, disability insurance helps replace lost income.
There are two main types:
Short-Term Disability: Covers you for weeks or a few months. Helpful for recovery after surgery, childbirth, or a health crisis.
Long-Term Disability: Kicks in after a longer waiting period and can last years—or until retirement age.
Why This Matters:
If you’re self-employed, the main breadwinner, or building wealth, losing your income—even temporarily—can derail your progress.
💡 Tip: Don’t assume “it won’t happen to me.” Statistics show that 1 in 4 people will experience a disabling event before age 67.
Bonus: Other Policies Worth Considering
Depending on your lifestyle, goals, and assets, you might also need:
Long-Term Care Insurance: Helps cover nursing care or assisted living costs not covered by health insurance or Medicare.
Umbrella Insurance: Extra liability coverage in case of lawsuits or major claims—especially important if you have significant assets.
Business Insurance: If you’re an entrepreneur, you need protection for yourself, your employees, and your income stream.
How to Choose the Right Coverage (Without Getting Overwhelmed)
Assess Your Risks: What would hurt most—losing income? Health bills? A legal claim?
Protect What You Can’t Afford to Replace: This includes your life, your ability to work, and your biggest assets.
Talk to a Trusted Advisor: An independent insurance broker can help tailor coverage to your actual needs—not just sell you a policy.
Final Thoughts: Insurance Isn’t Just Protection—It’s Empowerment
Here’s what I want you to remember: insurance doesn’t mean you expect the worst. It means you’re prepared to face it head-on.
Whether it’s a medical crisis, a sudden loss, or just a bump in the road—insurance helps you recover without starting from zero. That’s real peace of mind.
Because you’ve worked too hard to leave your health or your finances vulnerable to chance.
Action Steps:
Review your current insurance coverage
Identify any gaps—especially in life or disability coverage
Connect with a professional to get personalized recommendations
Reassess annually or after any major life change
You deserve to feel safe, supported, and protected—no matter what life throws your way.
Ready to Take Control of Your Financial Future?
You deserve to feel confident and secure about your financial future. This is why I have created my 8-week financial literacy program, What Wealthy Women Know - so that all women have access to the information necessary to secure their future.
Remember, it’s not about chasing perfection. It’s about making intentional choices that align with your goals.
Whether you lack confidence in making financial decisions or feel overwhelmed by yet another task in your already beyond-full schedule, here’s the truth:
Your future depends on your financial literacy.
So, are you ready to take control and build the wealth and security you deserve?
