Creating a solid financial plan includes managing risk associated with health, home, vehicles and protection of assets. Most of us strive for the right
    balance between the ability to live with a certain amount of risk and the confidence we may or may not have to replace or minimize the impact of
    loss. Insurance planning can help you.

    Manage Your Risks While Protecting Your Assets and Well-Being
    As part of a strategic financial plan, an insurance policy can help you deal with the unexpected life events that affect your health, wealth, and
    financial well-being. Knowing that you are insured to handle the impact of property or personal loss gives you the confidence to prepare for your
    future. Achieving financial stability is important to Americans. Insurance can help you balance various risks and keep you financially secure.

    Why Do You Need to Manage Your Risk?
    How can you rebuild your home if it burns down? What happens if you have an accident and will require long-term nursing care? What would
    happen to your family if you died? Would your children be able to attend college? These are common questions that are addressed with risk
    management — insurance protection to help minimize the impact of loss.

    What Are the Values of Your Assets?
    Risk management begins with identifying the areas that are at risk in your financial plan. Assign values to those areas or assets, such as your
    income, home, car etc. Be as specific as possible. Once you have identified those areas, you can protect them by getting the proper insurance

    Questions to Answer:
    • What is the value of your home?
    • What are the items in your home worth?
    • How much is your car worth?
    • What assets need protection from lawsuits?
    • How much income would you need if you are unable to work?

    While you are working on this exercise, think about the impact a sudden loss or accident would have on you and your family's ability to achieve your
    financial goals. It is uncomfortable to think about negative events, but you will have peace of mind knowing that you and your family are prepared to
    deal with loss during those difficult times.

    How Do You Reduce Your Risks?
    Your goals are very important when identifying areas of risk. When preparing a risk management plan, consider the risks associated with each type
    of goal.  You can reduce your risk by being prepared — purchasing the appropriate type of insurance can help minimize your loss.

    The Need for Life Insurance
    Life insurance is an essential part of financial planning. The cash provided by life insurance can help your spouse and/or dependents avoid lots of
    financial burdens. Life insurance can also be an asset to provide college funding for kids or to enhance your retirement income stream.  When it
    comes to protecting your loved ones and planning for the future, Retirement Choices of California (RCC) understands that one size does not fit all.

    Products that fit you
    That's why we offer a full range of insurance products designed to fit you at every stage of your life.

    Whether your goal is to insure your family during your working years, accumulate policy cash value, or protect against future medical costs and
    estate taxes, RCC has the product that fits you.

    And every product carries the most valuable feature you can find - the comfort of knowing that the company underwriting your insurance has
    received consistently high ratings for financial strength from the industry's leading rating agencies.

    Life Insurance Benefits You Can Use In Your Lifetime.
    Permanent life insurance policies offer financial protection in the event of your death. But did you know that they can also help you build cash value
    you can use in your lifetime1? In fact, the cash value you build can grow into a sizeable asset that you can access by loans and withdrawals.

    With these living benefits, you could:   
    Help pay for your children’s education.
    Add to your retirement income.
    Provide funds for an emergency expense that may arise.

    There are several types of permanent insurance. We'll list the basic types and review the features of each.

    Whole Life: also called ordinary life, is traditional life insurance. In general, whole life offers:
    *  Level premiums and death benefit.

    Universal Life: sometimes called adjustable life, offers more flexibility than traditional whole life insurance. In general, universal life offers:
    *  Flexibility in premiums and death benefit.
    *  A competitive, company-declared interest rate on the policy’s cash value, which, will never be lower than the policy’s guaranteed minimum
    interest rate.
    *  Current policy charges which will never exceed the guaranteed maximum charges.

    Term Life
    *  Designed to provide coverage for a specific period of time. To continue coverage after the term has elapsed, you may need to reapply for a new
    *  Pays to your beneficiary(ies) only if you die during the specified term the policy is in force, providing the   premiums are paid.
    *   Premiums are less expensive than for permanent, but the cumulative costs of renewing term can exceed the cumulative cost of purchasing
Life Insurance Basics
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