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Insurance Can Help Protect Your Loved Ones

A newly married couple joyfully welcomed their first child into their family. Recognizing the risks and responsibilities associated with children, they wanted to be positive they were protected and met with planners at HFA to discuss various insurance options. The planners presented basic fundamentals of risk management and cautioned them that without proper insurance coverage, their savings, home and future income could be in danger.


preparing for uncertainty

The meeting was very productive. The planners reviewed short and long-term disability provided by the couple’s employers to be certain coverage was sufficient, the definition of disability appropriate, and the carrier an A+ rated company. They stressed the importance of proper coverage to protect them if a long-term disability occurred, which may be financially devastating without ample coverage.

Next, the planners completed a needs analysis to determine life insurance requirements. They suggested the necessary amount and type of insurance and compared different investment grade companies by price and benefit. They reviewed and coordinated group life insurance benefits with their personal policies and recommended designated beneficiaries.

Working in concert with the couple’s property and casualty agent, the planners analyzed the auto and homeowner’s policies to discern extent of coverage, the existence of replacement cost riders and amount of deductibles to be sure they were not paying too much. As added protection for their assets, HFA coordinated each policy’s liability with a new umbrella liability policy.

During one of the meetings, the woman mentioned concern for her parents’ future if something happened and they were hit with long-term medical expenses. Her mom and dad retired several years ago, and the thought of nursing home care, if ever needed, was daunting. The planners were happy to assist and subsequently met with her and her parents to help explore options. They analyzed the older couple’s financial status, explained long-term care insurance, feature by feature, and guided their client’s parents through the sometimes-confusing contractual language within the policy. The family learned about different policies and each one’s benefits, as well as types of care provided, such as nursing home, assisted living or home care. They also expressed interest in considering a new hybrid policy, which provides a combination of life insurance and long-term care benefits.

HFA planners provided objective advice because they are not tied to any particular insurance company. The end result was to obtain proper coverage, help minimize annual costs wherever possible and acquire insurance through high quality companies.

The Moral of the Story: Being properly insured results in peace of mind.


The case studies presented are hypothetical in nature and intended for illustrative purposes only to demonstrate the range and scope of services that are provided by HFA to its clients. Individual advice and results will vary based on each client’s circumstances, objectives and prevailing economic conditions.

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