As we continue to grow and continue to be Loud, will always appreciate you for taking 5-10min of your day to read what I have to say, thank you!

This week I encourage you to focus on your plan not the plan of the media or others, your wealth is not their wealth!

What/How/Why/When??

All questions that insurance can help protect against. Yes we are talking about INSURANCE, I’ll try my damnest to have this not be a dry conversation!

Let’s start with what types of Insurance are out there for us;

Life Insurance - Life insurance offers a safety net for your loved ones when you're no longer around. It guarantees a financial payout, known as the death benefit, to your chosen beneficiaries, providing them with vital support for expenses like debts, education, and more.

Disability Insurance (Long and Short-term)- Short-term disability insurance offers financial coverage for a limited period when you can't work due to an illness or injury. Long-term disability insurance provides continued financial support if your inability to work extends beyond the short-term period, helping you maintain stability in the face of prolonged health challenges.

Health Insurance - Health insurance safeguards your financial well-being by covering medical expenses in times of illness or injury. It ensures you receive necessary healthcare without straining your finances, promoting both physical and financial well-being

Home & Auto - Home and auto insurance are your safety nets against unexpected financial setbacks. They protect your biggest assets – your home and car – providing peace of mind and a solid financial backup in case of accidents, damage, or theft.

Liability (Umbrella) Insurance - Liability (umbrella) insurance is like your superhero cape in the world of finances. It steps in when your regular policies reach their limits, offering extra protection against lawsuits and unexpected expenses, ensuring your assets and future are shielded from life's uncertainties

E&O Insurance - Errors and Omissions (E&O) insurance is your shield against the unexpected slip-ups in the business world. Just like a safety net, it covers you when a client claims financial loss due to mistakes or negligence in your professional services, allowing you to keep your focus on what you do best.

Accident Insurance - Accident insurance steps in when life takes an unexpected detour. It provides financial support to help cover medical bills and other costs that pile up when accidents happen, giving you a safety net and peace of mind.

Supplemental (Cancer, Heart, etc.) Insurance - Supplemental insurance serves as an extra layer of coverage to complement your existing plans. It's designed to step in and provide specific financial assistance for costs that your primary insurance might not fully cover, offering you added security and support.

Dental/Vision Insurance - Dental and vision insurance offers specialized coverage for maintaining your oral and visual health. These policies help offset the expenses of dental care, eye exams, glasses, and other related services, ensuring that you can prioritize your overall well-being with peace of mind.

Renter’s Insurance - Renter's insurance safeguards your belongings when you're living in a rented space. It covers the cost of replacing or repairing your personal items in case of theft, damage, or certain unforeseen events, providing you with a safety net for your possessions.

Travel Insurance - Travel insurance offers protection during your trips, covering expenses related to trip cancellations, medical emergencies, lost luggage, and other unforeseen situations. It's like a safety net that ensures you can enjoy your travels with peace of mind.

Kidnap, Ransom & Extortion Insurance - Kidnap, Ransom & Extortion Insurance provides coverage and support in the unfortunate event of kidnapping, ransom demands, or extortion threats. It's a crucial safeguard for individuals and organizations, offering financial assistance and expert guidance during distressing situations.

Art, Collectible, Jewelry Insurance - Art, Collectible, and Jewelry Insurance offers protection for valuable and cherished possessions like art pieces, collectibles, and jewelry. This coverage ensures that in case of damage, loss, or theft, these unique items are properly insured, providing peace of mind to their owners.

Flood/Fire/Tornado Insurance - Flood/Fire/Tornado Insurance provides essential coverage against the devastating effects of natural disasters. It ensures that in the event of a flood, fire, or tornado, your property is financially safeguarded, allowing you to recover and rebuild without bearing the full financial burden.

Okay… I am done you get the picture. As you can tell there are A LOT and they all need to work cohesively for you and your plan. How the hell do we get them to work for us…well that isn’t a simple answer as everyone’s plan is different however for a basic protection plan you need the following:

Life, Health, Disability (Long & Short), Liability, Home & Auto…at a bare minimum. The other’s are added bonus but these are essential.

Organizing and Storing Your Insurance Records

Securing your loved ones' future means not only having insurance but also ensuring that your beneficiaries can easily access and file claims when the time comes. To guarantee this, it's vital to maintain copies of your life insurance records in at least two safe places, minimizing the risk of loss due to unforeseen circumstances. This proactive step increases the chances that your beneficiaries will locate and utilize these records after your passing.

What Information Should You Keep?

For each insurance policy, remember to document:

• Full name of the issuing life insurance company

• City and state of the company's home office

• Name and headquarters of the company group, if applicable

• Policy number

• Issue date of the policy

• Benefit amount

• Agent/broker's name and address

• Policy type

• Location of the original policy

If you have employer-offered or group life insurance, include:

• Name of the sponsoring employer or group

• Contact details for claims submission

• Certificate number (similar to an individual policy's policy number)

• Start date of insurance

• Death benefit amount

For financial programs with added death benefits like pensions, annuities, or travel accident insurance, note:

• Type of policy with death benefit features

• Full name and location of the issuing company

• Policy number

• Issue date of the policy

• Death benefit amount

• Agent/broker's name and address

• Location of the original policy

If you have insurance tied to loans, record:

• Lending institution's full name

• Loan number and issuance date

• Contact person or office for claims

• Policy number of the insurance policy connected to the loan

Where Should You Store This Information?

Maintain one copy of these records at home, in a spot easily accessible to those who may require the information. Ensure to inform your loved ones of its location. It could be grouped with your financial and legal documents or any place where your survivors are likely to search.

Keep another set of records off-site, potentially in a safe deposit box, with a trusted professional, or a reliable family member. Update the date on each page whenever you make changes. This way, it's evident which version is the most current, whether at home or in a safe deposit box.

Taking these proactive steps to organize and store your life insurance records ensures that your beneficiaries can effortlessly access the essential information they need during an emotionally challenging time.

Next Week’s Issue

Leaving your legacy…most of us have no clue how to start. Next issue we will deep dive into Estate Planning, how to organize and what is important.

Hottest Tweet of the Week….

My industry argues a lot about debt…specifically car debt. Happiness matters in every financial decision, as long as it is a feasible option don’t let the pundits ruin your happiness.

#NoBSWealth Clip of The Week

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