Insuring what matters most

Insurance helps you protect what matters most in your life — your loved ones, your assets and your financial future. Insurance takes on many forms, some of which do double-duty as tax-advantaged investment, accumulation or retirement income vehicles, or ways to shape your estate plan.

Do you have the right insurance now?

Assessing your current coverage involves some reflection and review, starting with these questions:

• How might unexpected events impact your family's goals?
• How will you provide for dependents if you’re unable to earn income or if you’re gone?
• How do you determine home insurance policy coverages and auto liability coverage limits?

Forms of protection

Your financial plan may include a variety of financial solutions, such as cash management strategies, investments and insurance. To protect yourself against unexpected costs or events such as job loss, it's essential to maintain cash reserves that you can access quickly, without penalties or loss of value. In addition to cash reserves, you might want to consider the following types of insurance:

• Life insurance. The two basic types of life insurance are term insurance and permanent insurance. Term policies protect you for a fixed amount of time. Lifetime, or permanent, policies are designed to protect you and your family for the long-term. You can choose from life insurance products and coverages that offer a variety benefit and premium levels, opportunity to grow assets in a tax deferred manner and more.
• Long-term care insurance. According to the U.S. Department of Health and Human Services, about 70% of Americans who reach age 65 will need long-term care at some point in their lives. And more than 40% will need care in a nursing home.¹ LTC insurance can help you protect your financial future and position you to give more to your loved ones.
• Disability insurance. Without disability income insurance, a serious injury or illness could jeopardize your family's income and lifestyle. Different policies offer varying benefit terms, coverages and definitions of disability.
• Auto and home insurance. Make sure your coverage reflects the current value of your home and liability limits are appropriate for auto coverage with an annual review to protect your assets.

Other insurance considerations

Insurance is a key element of any financial plan. A financial advisor can help you evaluate your current coverage needs. Together, you might consider:

• When was the last time you reviewed your property and casualty coverage? Do you have the coverage you need?
• Does umbrella coverage make sense for you?
• What employee benefits are available to cover your insurance needs?

We can help you with your insurance needs

An Ameriprise financial advisor can answer your questions about life insurance plans and other insurance products, as well as suggest solutions tailored to your financial goals.