Page 7 - Hobe Sound Reflections - September '22
P. 7

Hobe Sound, Page 7

                                                    FiNaNCial FoCus

      Are You Properly Insured?                          something were to happen to you, would your family be   insurance is right for you. You have two basic choices: term
                                                         able to continue their same lifestyle? Would the mortgage   or permanent insurance.
      By Sally Sima Stahl                                still be paid? Would your children still be able to further      As the name suggests, term insurance provides coverage
         You probably won’t see                          their education?                                  for a specified amount of time, such as 10, 20 or 25 years.
      it on your calendar, but                              So, if you decide that you should acquire or strengthen   Term insurance only offers a death benefit — there’s no
      September is Life Insurance                        your life insurance, how much do you need? Your   buildup of cash value in your policy. Generally speaking,
      Awareness Month. And it                            employer may provide you with some insurance as an   term insurance is considered to be quite affordable, especially
      is indeed important to be                          employee benefit, but it may not be sufficient. You might   when you’re young.
      aware of the importance                            have heard that you should have coverage worth seven      Permanent insurance, on the other hand, offers a death
      of life insurance. Are you                         or eight times your annual salary. But this estimate is just   benefit and the opportunity to build cash value. Because of
      adequately insured?                                that — an estimate. Everyone’s situation is different, and   this, premiums for permanent insurance — which includes
         Many people aren’t.                             there’s really no one formula that can tell you how much   “whole life” or “universal life” — are considerably higher
      About 40 percent of                                insurance you require. To determine the coverage you   than those for term life.
      Americans face some type                           need, you’ll want to consider several factors, including      Which type of insurance should you choose? Again, it
      of life insurance gap, either because they’re uninsured or   your age, number of dependents, your income and that of   all depends on your situation and your preferences. Some
      underinsured, according to a 2021 survey by the research   your spouse and the size of your mortgage.  financial experts advise people to “buy term and invest the
      and advocacy groups LIMRA and Life Happens.           Knowing how much coverage you need is obviously   difference” — that is, use the money saved on the lower
         The need for life insurance is pretty straightforward: If   important, but you’ll also want to consider what type of life   term insurance premiums to invest in stocks and mutual
                                                                                                           funds. Others, however, disagree, and point to the benefits
                                                                                                           of permanent insurance, such as the ability to borrow
                                                                                                           against the cash value of a policy to pay for unexpected
                                                                                                           expenses. Ultimately, in making the choice between term
                                                                                                           and permanent insurance, you’ll need to look at your entire
                                                                                                           financial picture to determine which option is best for you.
                                                                                                              In fact, life insurance should be a key component of your
                                                                                                           overall financial strategy, along with your investment mix
                                                                                                           and the long-term goals you’ve set. Insurance can even play
                                                                                                           a role in your estate planning, as you determine the best way
                                                                                                           to distribute assets to your family members and any charitable
                                                                                                           organizations you support.
                                                                                                              Life Insurance Awareness Month lasts 30 days — but
                                                                                                           your need for life insurance can endure for decades. Make
                                                                                                           sure you’re doing everything you can to protect your
                                                                                                           loved ones.
                                                                                                              This article was written by Edward Jones for use by
                                                                                                           your local Edward Jones Financial Advisor, Edward Jones,
                                                                                                           Member SIPC.
                                                                                                              Edward Jones is a licensed insurance producer in
                                                                                                           all states and Washington, D.C., through Edward D.
                                                                                                           Jones & Co., L.P., and in California, New Mexico and
                                                                                                           Massachusetts through Edward Jones Insurance Agency
                                                                                                           of California, L.L.C.; Edward Jones Insurance Agency of
                                                                                                           New Mexico, L.L.C.; and Edward Jones Insurance Agency
                                                                                                           of Massachusetts, L.L.C.
                                                                                                              Edward Jones, its employees and financial advisors
                                                                                                           cannot provide tax advice. You should consult your qualified
                                                                                                           tax advisor regarding your situation.
                                                                                                              Contact us at (561) 748-7600, Sally Sima Stahl, AAMS,
                                                                                                           1851 W. Indiantown Road, Ste. 106, Jupiter, FL 33458.

                     Our men’s health experts

                                 are here for you.

                         You keep the things you care about in top shape – your health
                      shouldn’t be any different. From routine checkups and annual prostate
                      screenings to leading-edge treatments, the experts at Cleveland Clinic
                      Martin Health provide complete care on the Treasure Coast. Our team
                     utilizes the latest techniques and technology, including robotic-assisted
                     surgery, to treat a wide range of men’s health conditions close to home.

                                 Get world class care from the name you trust.

                                    1 out of 8 men will be
                            diagnosed with prostate cancer.                                                                Advertise,

                           Request an appointment with one of our specialists.                                    Check out our website!
                      Visit to learn more.               

                                                                                                                   or call (561) 746-3244
   2   3   4   5   6   7   8   9   10   11   12