Many CA parents wonder what they can do to better protect their dependents and their financial interests. While estate planning is something that many parents will have looked into, life insurance should not be neglected as a suitable strategy.
Estate planning could help you protect your dependents’ financial interests by removing ambiguity about how you would like your assets to be distributed. For dependents that are minors, you should include instructions on custody arrangement.
Life is full of unexpected events. Although we’d prefer not to think about it, planning for the worst can help your dependents live their lives, no matter what happens to you. The right policy could cover your dependents’ living expenses, college expenses, and other vital costs.
Health and Other Types of Insurance
Having health coverage, and other types of insurance, for yourself, could help you get over interruptions in your life more quickly. For example, health insurance might cover some of the costs required for treatment if you get sick.
Other types of policies, such as disability insurance, could give you access to payouts that may help you support your dependents, even if you’re injured, and are unable to work. There might be a range of insurance options available, so speak to an agent about options that are suitable for you.