In this episode of the Practical Wealth Show, Curtis May discusses the importance of having maximum protection and playing defense in one's financial planning. He shares his recent health scare story to stress the importance of being prepared for...
In this episode of the Practical Wealth Show, Curtis May discusses the importance of having maximum protection and playing defense in one's financial planning. He shares his recent health scare story to stress the importance of being prepared for unexpected events. Curtis highlights the importance of having disability insurance and estate planning in place.
Disability insurance can restore cash flow in the event of a disability, reduce financial stress, ensure income continues coming in to maintain one's lifestyle, and potentially fund savings. Curtis advises listeners to consider the total amount they can get, the start date, the length of time the policy lasts, and the definition of disability in their insurance policies.
Estate planning is another critical aspect of financial planning, helping to avoid substantial losses upon death. Curtis discusses the examples of famous estates that suffered significant losses due to poor planning. He emphasizes the importance of having the appropriate estate planning documents and beneficiary designations in place to ensure loved ones receive what is desired.
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