Investment advisory services offered through Sharma Associates, Inc.
Securities offered through Resource Horizon Group, L.L.C., Member FINRA,  SIPC
1350 Church Street Extension 3rd. Floor, Marietta, GA Phone: 770-319-1970
Sharma Associates, Inc. and Resource Horizons Group, L.L.C. are not affiliated.

Insurance Planning:

A comprehensive financial planning begins with a good Insurance safety net. Besides life insurance, other important components of a good financial plan are planning for retirement, saving for college education of children and estate planning.

Sure, it is much more exciting to talk about hottest stock or investments. But before you think of investing, it is important that you make sure you have a good insurance safety net to protect you and your family from catastrophic losses

Not being properly insured is a huge risk, yet significant number of individuals does not want to address this safety net issue and their insurance needs.

Having the right kinds of insurance can make a huge difference in both the quality of your life, protection and premium you pay for such protection.

Here are the types of insurance products you need to avert financial disaster.

Life Insurance: If anyone depends on your income to live, you need life insurance, period. Term life insurance, a set amount of coverage for a given period with level premium, is generally your best choice. WHY? Lower premium allow you to free up cash for other things, such as investing for college tuition or your own retirement.

Besides term life insurance there are also other life insurance products such as Universal Life Insurance, Variable life Insurance and Whole Life Insurance for your other needs.

Health Insurance: Almost everyone needs health insurance. Without insurance, paying hospital or doctors' bills could cost you thousands of dollars a year. Besides monthly premiums, it is equally important to understand what your policy covers and what are the deductibles and what are your charged out of pocket costs.

Long Term care Insurance:  This is another insurance product one should seriously look into. Should you need more information, please let me know.

Disability Insurance: Often overlooked is proper disability insurance. It protects your income in the event that you are injured and can no longer work. Typically it should give you at least 60% of your gross income should you be unable to work.

Homeowners Insurance: Make sure you have proper homeowners insurance. That generally means replacement value coverage for the house, and liability coverage in case somebody gets hurt on your property and sues you. If you want to keep your premiums to a minimum, take a higher deductible.

If you live in a flood zone, be sure you are insured. Your homeowner’s policy may not cover flood damage. If so, you will need a separate policy.

And renter's insurance is a must for folks who lease an apartment from a landlord. It covers loss of property and, if you cause the damage then liability.

Automobile Insurance: This insurance is mandatory. If you own an automobile, you need auto insurance. Adequate coverage is important as it also give you liability coverage of at least $100,000 per injury and $300,000 per accident.

Insurance as an Investment: Often life insurance is sold as both a safety net and as an investment. Insurance is not the most efficient investment, but if you have exhausted other retirement vehicles, like 401(k), etc then it can be an investment.

Insurance as an Estate Planning Tool: Insurance can be an effective estate-planning tool. You can use it to protect your assets. A life insurance policy, for example, can be used to pay estate taxes. A business partner can use it to buy out the ownership interest of the deceased partner.

Insurance You Don't Need: Too much insurance is as much a problem as too little. Today, you can purchase a policy that pays off your mortgage if you die. Lose your job and there is a policy to pay off any debts that you have incurred on your credit card. You can buy coverage to protect you against cancer. None of this insurance is necessary.

On an average household expenditure for insurance is between 6.5 to 7.5% of the household income.

For more information or question, please feel free to call or email.

Phone: 610-828-8253 Email: hans@sharmah.com