Protecting Your Future

In today's unpredictable world, ensuring you have adequate insurance coverage from reliable insurance companies is crucial to safeguarding yourself and your assets from unforeseen events. Risk Management is a key part of your overall financial plan. The right coverage not only provides peace of mind but also acts as a financial safety net in the face of unexpected challenges.
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Insurance

• Is an agreement that transfers some of the risk of loss from the insured (you) to the insurer ( insurance company), with coverages ranging from home insurance, auto insurance, health insurance, disability insurance, and umbrella policies.
• These insurance policies help safeguard against damage, liability, injuries, illnesses, etc.
  

Sufficient insurance coverage is key

• It protects your financial well-being by offering funds to recover from unforeseen events.
• It provides peace of mind, allowing you to focus on life without constant worry about potential financial consequences.
• Working with an insurance professional to ensure you aren't over insured or underinsured can be a smart decision.

Assessing current insurance coverage

• Take a thorough review of all your policies, considering coverage limits, deductibles, and exclusions.

• Determining insurance needs requires evaluating assets, income, financial obligations, health, and dependents. Balancing coverage limits, deductibles, premium costs, policy exclusions, and the insurance company's reputation is essential in making informed decisions.

Regularly review and update insurance coverage

• It is advised to do this at least annually, particularly during life changes, asset acquisitions, income adjustments, and policy renewals.
• Common mistakes to avoid include underinsuring, neglecting potential risks, ignoring policy exclusions, and failing to seek professional advice from licensed insurance professional
• An insurance agent can play a pivotal role in guiding individuals towards the right coverage. Their expertise aids in assessing needs, recommending suitable options, and providing quotes from multiple insurers. A trustworthy agent ensures that coverage aligns with specific needs and budgets.‍

Conclusion ‍

Having adequate insurance coverage is paramount for peace of mind and financial security. Regular assessments, informed decisions, and professional advice contribute to optimal coverage, ensuring that you are adequately protected in an ever-changing world. Take control of your insurance coverage today to enjoy the peace of mind that comes with knowing you are well-protected, a key aspect of risk management and overall financial planning.

If you feel you need a professional to assess your current risk management strategy we are here to help. We do not sell any insurance products, but have the experience and expertise to evaluate where you are and can help point you in the right direction.‍

We are here to help._‍

Your Wela Financial Advisory Team

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_{Brent Forrest & Associates, LLC. dba Wela Financial Advisory (Wela) is a registered investment adviser. Information presented is for educational purposes only. It should not be considered specific investment advice, does not take into consideration your specific situation, and does not intend to make an offer or solicitation for the sale or purchase of any securities or investment strategies. Investments involve risk and are not guaranteed. Be sure to consult with a qualified financial adviser and/or tax professional before implementing any strategy discussed herein. This article and images may have been enhanced with the assistance of artificial intelligence (AI). Brent Forrest & Associates, LLC dba Wela Financial Advisory( Wela) is a registered investment adviser. Information presented is for educational purposes only and does not intend to make an offer or solicitation for the sale or purchase of any specific securities, investments, or investment strategies. Investments involve risk and, unless otherwise stated, are not guaranteed. Be sure to first consult with a qualified financial adviser and/or tax professional before implementing any strategy discussed herein. Past performance is not indicative of future performance. Wela may discuss and display, charts, graphs, formulas which are not intended to be used by themselves to determine which securities to buy or sell, or when to buy or sell them. Such charts and graph offer limited information and should not be used on their own to make investment decisions.}‍