We are approaching 6 months of the COVID-19 restrictions. Who would have thought that we would be this long into a global pandemic with such broad impacts on all of our lives?
We at BFS certainly didn’t see all of this coming and, as we have noted in past articles (and in conversations with many of you), not even the experts predicted the impacts with any real accuracy. We’ve all been learning and evolving as we go along with the hope that a vaccine or some form of treatment is produced soon.
There are many things in life that are outside of our control (e.g. global pandemics, severe weather events, car accidents, severe illnesses). While it is hard to PREDICT these sorts of events, we can PREPARE for them (at least is some limited ways).
Here’s a quick checklist of things you can do to PREPARE for the unexpected:
1. Create or update your Will
2. Create or update your Powers of Attorney (for Property and Personal Care)
3. Maintain a 3-6 month emergency fund
4. Obtain an appropriate amount of Personal Insurance (financially)
We can help you directly or through referrals for all four of these items, however, I would like to delve a bit deeper on #4 – Personal Insurance.
Personal insurance is one of our core offerings. Securing an appropriate amount of personal insurance is one of those few things that you can do to PREPARE (financially) for some of the things that are out of our control. Insurance covers you for the potentially devastating financial liability that these types of events can have on you and your family. And, don’t underestimate the value of the peace of mind that comes from knowing your finances are protected.
So, with this in mind, I ask that you take some time to reflect on your current Personal insurance coverage and get in touch with one of our licensed advisors so we can help you properly PREPARE for the unexpected.
The article below gives some very recent insight into how younger adults are embracing the peace of mind that comes from obtaining personal insurance and the trend toward electronic applications. Here’s a good quote from the article: “With more time at home – people have now begun to pay closer attention to their monthly costs, which includes insurance premiums,” said TD Insurance chief executive officer Raymond Chun in an interview. “At the same time, they are able to see if they have gaps in coverage – especially when it comes to their health and protecting their family.”