According to US Department of Homeland Security, nearly half of Americans will make at least one new year’s resolution. And with 2023 just beginning, now is a natural time for introspection, putting a bow on the old year and assessing your goals for the future.
Consider using this time to review your finances and set long-term goals. It is also wise to reassess your financial securityTo ensure your coverage meets your needs.
There will be 3 types of insurance in 2023
Let’s discuss three popular insurance types in 2023 and how to optimize them
Having adequate life insurance is essential to protect your family (or anyone dependent on you) from significant financial losses should you die.
Provides a death benefit when you pass, which can benefit your beneficiaries in many ways. If you already have life insurance, now is a great time to review your policy options and coverage amounts to make sure your designations still meet your needs.
“Have a trusted advisor review your insurance coverage because, depending on your policy, you may have decisions you need to make,” advises Brian K. Brueggemann, CFP, CTFA, director of financial planning at wealth management bank Baker Boyer.
“For example, you may need to decide whether or not to renew, whether it’s worth paying increased premiums, or how the policy is owned depending on your overall financial plan.”
You may also benefit from adjusting your payment frequency. “Many life insurance carriers will offer discounts on annuity payments,” says Herman (Tommy) Thompson, Jr., CFP, a financial planner with Innovative Financial Group. “This can save 8% per year.”
If you’re in the market for life insurance – or looking to adjust your existing policy – get started now by getting a free online price estimate so you know exactly what to expect.
It can allow you to choose treatment for your sick or injured pet based on what your pet needs, not what your budget can afford. Veterinary bills can be expensive, but most pet insurance policies can pay you up to 80% of the vet bill for your deductible.
usually,, ranging from $15 to $40 per month to insure your cat and $30 to $70 for a dog. It’s a reasonable price considering your peace of mind knowing an expensive vet bill won’t hurt you financially.
If you currently own pet insurance, consider adjusting your coverage to meet your changing needs. For example, if your plan is too expensive for your budget, choose some providersOffer a baseline package for as low as $10 per month. If you like your coverage plan, you can lower your payment by 10% or 15% by changing your deductible, annual benefit amount or reimbursement percentage.
Most pet insurance companies make it easy to manage your policy online and create a coverage plan that suits your pet without breaking your budget.
You can get a free pet insurance quote now by answering a few simple questions.
You might consider gettingFor many reasons, but the main benefit is protecting your wallet and giving you financial relief if something affects your trip. Depending on your policy, your policy may cover a wide array of travel situations, such as:
- If something happens that prevents you from taking the booked trip
- If something happens during your trip that costs you financially
- If your luggage is lost or damaged
- If you have an illness or injury that requires treatment
When purchasing travel insurance, time is of the essence. Buy travel insurance right after booking your flight or accommodation to protect you against an event that delays or cancels your trip altogether.
Also, remember that travel insurance is not just for international travelers, as is often claimed. Given the prices in the current travel environment, travel insurance can be a valuable addition to your domestic trip, especially if you’ve already paid for flights, accommodation and activities.
Start comparing travel insurance providers now to find an affordable and reliable plan for your next trip.
As you set financial goals for the future, be sure to review your insurance needs. Whether you’re looking to purchase a new policy or adjust an existing one, recognize that your coverage needs to keep up with the changes in your life. When looking for insurance, shop and compare different insurers and policy options to ensure you get the coverage you need at an affordable price.
You can get started now by getting a free life insurance quote online.