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Insurance in Financial Planning

Updated: Aug 9, 2022

One of the tools that is used in financial planning is insurance. Insurance is meant to take the risk out of life if and when unforeseen tragedies occur. There are two major categories of insurance: Property and Casualty and Life. From there we can further break this down by health, disability, and long-term care.

Property and casualty insurance helps to take the risk out of loss of property. Homeowner’s insurance and auto insurance are examples of this. If something catastrophic happens to the insured property, these types of policies pay towards repairs or replacement of the property.

Life insurance, along with health, long term care, and disability protect against the risk of losing income or financial assets. Life insurance helps to create an estate should the primary breadwinners suddenly pass. Adequate life coverage will ensure that your future plans for your family can happen if you die. The long-term care, health, and disability insurance keep your assets from being used up if you become incapacitated. Medical expenses are very expensive and being properly insured can help to maintain your assets and standard of living.

Insurance is an important part of your financial plan. Dawn Kleinschmidt can evaluate your property and casualty insurance needs and Robert Simpton can examine your needs for life, disability, and long term care that will fit your budget.

Brad Murrill and Robert Simpton are registered representatives of and offer securities through SCF Securities, Inc. - Member FINRA/SIPC Investment Advisory Services offered through SCF Investment Advisors Inc. 155 E. Shaw Ave. Suite 102, Fresno, CA 93710 • (800) 955-2517 • Fax (559) 456- 6109. SCF Securities, Inc. and Redfish Capital Management are independently owned and operated. The views and opinions expressed herein do not necessarily represent the views and opinions of SCF Securities, Inc. or any SCF-related entity. This material is for general information only and is not intended to provide specific advice or recommendations for any individual. SCF does not offer tax or legal advice and this material is not intended to replace the advice of a qualified tax advisor or attorney. Please consult legal or tax professionals for specific information regarding your individual situation.

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