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Defend Your Financial Future.

By: One Nevada Credit Union / 17 Oct 2019
Defend Your Financial Future.

Buying insurance is unlike buying anything else. It's something you purchase and hope you never have to use.

Think about it, if you drive a car, then you probably have auto insurance. And we're fairly sure you don't want to get into an accident. Therefore, you're paying for something you hope you
won't need. But it's nice to know it's there. Especially when it comes to your financial future.

From health and auto insurance, to life insurance, pet insurance, and even renters insurance, the insurance coverage you purchase is only used when something goes wrong, like an auto accident, household mishap, or loss of a family member. Life is not predictable, but having the right insurance adds some predictability and a layer of defense to your financial future. We call that financial resiliency.

Here's how the right advice and insurance coverage can work in your
favor and protect your family from life's random curveballs.

Insurance plays an important role
Putting money away into an emergency fund and saving for your retirement is vital. But equally important is insurance. The right insurance policy will protect your savings and other assets from being depleted if you or someone you love is injured in an accident, becomes sick, or worse.

In other words, your money and everything you've worked hard to acquire could be lost if you go without health insurance while you're alive, auto insurance if you own a car, homeowners insurance if you own a home, or liability insurance if you have substantial property you want to protect.

Let's say you don't have proper auto insurance coverage and you're injured in a terrible auto accident. You could be in the hospital for a while. The bills for your care will come right out of your savings. Once that's gone, your family may be forced to pull money out of your retirement fund, sell your home, or both.

The right insurance gives you and your family steady footing for those moments.

Options you should consider include:
• Auto insurance if you drive or own a vehicle.
• Homeowners insurance if you own a home.
• Renters insurance if you rent your home and want to protect the
value of your belongings.
• Life insurance for those you love.
• Disability insurance if you're ever injured or become ill and can no longer work.
• Long-term care insurance to protect your finances from the high cost of nursing home care.
• Pet insurance to ensure you never have to choose when to save your
• Accident and sickness insurance to cover hospital stay and transportation costs.
• Payment Protection insurance to ensure your credit and finances are not affected if you're unable to make a loan payment due to loss of a job, illness, or accident.

Understanding life insurance
What you're buying when you start a life insurance policy is the promise of a payout to your family after you've . . . how can we put this delicately . . . stopped breathing. Nobody wants to talk about mortality, but it's an eventuality that you can insure for your loved ones.

The main reason that life insurance even exists is for your family. When you purchase a life insurance policy, you're not doing it for you. You're doing it for them, whether that's a spouse, partner, kids, parent, or other family member. The right policy will provide for those who rely on you for their immediate and long-term financial stability.

Picking the right insurance policy is something One Nevada Insurance
Services can help you do, but for now just know that the general rule is coverage equaling six to eight times your annual income. That way your family has years to adjust and remain financially stable.

Don't forget your last will and testament
What you want for your family, your property, and your finances is
important. A Last Will and Testament is a legal document that outlines who gets your money, property, guardianship of your children, and who will be the executor of those decisions. You can even designate who will take care of your pets when you cannot.

But, like a life insurance policy, if you don't have one in place, your family will be left to sort things out on their own. A solid, legal, up-to-date will and testament makes life a lot easier for those you love after your life has expired or you become incapacitated and unable to make decisions.

You can write up your own will and testament right now. There are plenty of websites out there that can help. But you might consider hiring an attorney to look it over or at least get the document notarized.

Insurance is our thing — we can make it yours too
One Nevada Insurance Services knows the world of insurance and can help you find the right mix of coverage, cost, and protection to keep your financial future in focus, no matter how unpredictable life gets.

Call: 800-388-3000, option 4

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