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Planning for Now: Insurance for today’s “what ifs”

Planning for Now: Insurance for today’s “what ifs”

October 11, 2016

As smart planners, we all think about the future. We like to see our “days ahead” as sunny and full of promise and prosperity. There is another side to successful planning however: Considering the “what ifs.”

It is the most challenging part of looking at our lives. No one likes to think about what might happen to his or her family if something unforeseen should take place, but it is one of the most crucial components of the financial planning process.

You might be surprised to learn:

  • 68% of adult Americans have no savings earmarked for an emergency.1
  • 30% of U.S. households have no life insurance.2
  • 65% of working Americans say they could not cover normal living expenses even for a year if their employment income was lost; 38% could not pay their bills for more than 3 months.3
  • 64% of wage earners believe they have a 2% or less chance of being disabled for 3 months or more during their working career. The actual odds for a worker entering the workforce today are about 25%.4

Accidents happen. Considering your options and planning effectively for the consequences, should you die unexpectedly or become disabled, should be one of the first steps in the creation of your financial plan. Ask your FAS Advisor to help guide you through your options. 

1 U.S. Federal Reserve Board


3Council for Disability Awareness

4Council for Disability Awareness