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Insurance for North Carolina State Firefighter Association

We Are Dedicated To The Professional Association Insurance Industry Nationwide.

Has the thought of something tragic happening to you ever cross your mind? It happens to all of us, especially to those who have children or loved ones who need their care. However, investing in their financial stability in case a catastrophic event occurs is the least you can do to ensure that they don’t have deal with the significant repercussions on their own.

The following are steps you can take to protect your family financially:

  • Make sure you have life insurance. If your loved ones would suffer financially if something devastating happened to you, you need life insurance. When considering how much you may need, there a specific factors that need to be calculated, such as how much will be needed at death to meet immediate obligations and how much future income is needed to sustain the household.
  • Review the beneficiaries of your life insurance. If your ex-spouse is still listed as a beneficiary in your life insurance or if you listed your minor children as beneficiaries and are afraid they won’t be able to get their entitled compensation, have a professional life insurance specialist or advisor offer the assistance necessary to your money goes into the right hands.
  • Apply for disability insurance. In the event of a tragic accident which causes a debilitating injury or illness, having disability insurance replaces a portion of your income if it is determined that you are unable to work because of injury or illness. Your employer may offer this type of insurance through a group plan. If that’s not the case, contact your HR department or benefits manager to learn about the coverage you have and other options. If your work can’t offer you disability insurance, seriously consider buying your own, since it will stay with you in case you change jobs.
  • Establish an emergency fund. Unexpected events, such as a job loss, property damage or car repairs, can be quite expensive. In order to give yourself the comfort of knowing you can afford these surprises, set aside a specific amount each month and have it automatically deposited to your savings account.

For more information, contact Insurance Specialists, Inc. today!