The Ballast Atheneum is a collection of our thoughts on the twelve most important topics in financial planning. Today, the focus is on Insurance.


Insurance may be the most common form of financial protection out there. From protecting your loved ones from financial hardship after an untimely loss to protecting your income stream or business if you become disabled, to protecting your home and property, insurance offers a financial shield that protects you against life’s uncontrollable and undesirable outcomes.


Are you protected against the unexpected?

A necessary but often overlooked item on the financial to-do list is life insurance. We’ve heard nearly every reason in the book as to what keeps people from getting the life insurance they need, like, “the insurance I have through my employer is sufficient” or “I just don’t have the time.” The list goes on and on, but let’s face it, certain things in our financial lives need to be brought to the top of the to-do list and life insurance should be one of them.

There are two general categories of life insurance: term and permanent. Read more.


Does your small business have insurance?

To many small business owners, their business is their most valuable asset. It is the lifeline for their family and their future income. Due to large insurance company marketing, many are very familiar with life insurance but less know about the other insurance coverages that might protect their business and/or family in case of an unforeseen event.

While many different types of insurance coverage might make sense for a small business owner, the coverages in this article are the most popular and likely to affect the most people.  Coverage options.


Are all disability policies created equal?

Protecting Families and Businesses from Disaster – Not all disability policies are created equal. Each insurance company has its own policy language and when it comes to paying benefits, how the coverage works may make the difference between utilizing the benefit or being ineligible for the coverage. There are a few features we prioritize. 


Do you know the four primary ways to cover long-term care?

The most important conclusion to draw from this data in the article is that the need for care is both varied and unpredictable.  The range of care a person might need ranges from none to an extensive, long-term stay in a skilled nursing facility. Due to the need being impossible to quantify, the best approach is to measure what your personal financial situation can handle. Read more. 


Do you know what property and casualty insurance cover?

Simply put, property insurance protects the things we own while casualty insurance provides protection against the claims of others. Included in the full article is a look at some of the different property coverages available for individuals and families.


Does your current life insurance policy fit your needs?

The first question we try to answer for life insurance owners is simple: do I need insurance? The answer to this question changes throughout one’s life. As debts are eliminated and as children become self-sufficient, needs may decrease. However, some may see their need grow over time for business reasons, charitable goals, or even for peace of mind. Full article here.




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