Have you elected additional Life Insurance through your company’s employee benefits? Many people sign up for coverage because it is easy to acquire since there is slim to no underwriting requirement and have relatively low premiums. While young, this approach can work if you like the idea of extra insurance on the cheap. However, at age 45 (if not sooner) the cost usually becomes more costly than private coverage and will increase at quinquennial ages (45, 50, 55 etc). Employer coverage is also non-portable or expensive to do so. It should not be counted towards your actual life insurance needs for these reasons.
If you have coverage through work, are near or over age 45 and have insurance needs for a certain time & amount, a term policy likely will save you premium dollars, have a locked in rate, and will not be affected by any employment changes.
Please contact us if this pertains to you and would like to research other options.
On a recent Sunday afternoon, five employees of Lighthouse Financial Advisors competed in the popular endurance event Tough Mudder consisting of over 20 obstacles on a hilly 10-mile course outside Allentown, Pennsylvania. The competition encourages teamwork and camaraderie among participants while testing your physical and mental strength.
In March, an ambitious goal was set to find a competition to test the grit, strength and character of those willing to challenge themselves and get really muddy! We signed up for the event and immediately started training. After lots of early morning wake-ups and running hills, we were prepared for everything the course had to offer (except for the electroshock obstacles!).
As advisors, we often focus on financial goals and taking the necessary steps to make these goals come true. However, we feel it is just as important to focus on professional and personal goals to live a balanced, healthy, happy life. Goal setting is the cornerstone to sound financial planning because “if you don’t know where you are going, any road will take you there!” Think BIG and set a fitness goal for the Summer.
Congratulations to Robert, Frankie, Brennan, Sarah and Sean for competing and Frank for providing encouragement and taking pictures at the event!
