In this episode of the Roadmap to Retirement Podcast, I explore the vital role of various insurance types in financial planning with Amanda Harvat from KAFL Insurance Resources. We delve into the importance of life insurance, viewing it as an act of love and security for families. We also address the common misconceptions about the cost and adequacy of employer-provided policies, stressing the need for regular reviews of one’s insurance coverage. The discussion highlights the necessity of securing life insurance early for affordability and maintaining insurability, and extends to the limitations and misunderstandings surrounding disability insurance. We emphasize the significance of supplemental disability insurance tailored to specific occupations. We consider long-term care insurance and hybrid products that combine life insurance benefits with long-term care, offering solutions for asset preservation. The talk concludes with recommendations for additional liability insurance and provides contact information for further guidance, underscoring the critical nature of comprehensive financial protection.

Thank you for listening and as always, tune in next week for another new episode!