Lords Insurance Agency Blog

Many of us assume that if we get seriously ill, it will be either a temporary illness from which we will recover, or at the other end of the scale, a terminal one. What we do not generally expect is to live for decades with conditions like fibromyalgia or chronic fatigue syndrome, or other long term conditions that can affect our ability to earn an income. Are you prepared for such a situation? Without insurance, a substantial amount of emergency funds would need to be available to carry us through. There are of course, a range of insurance policies designed to provide coverage in these situations. A qualified California insurance agent can discuss the options with you, but it never hurts to have emergency savings so here is some advice on building yourself a nest egg for dire circumstances in the future.

The first thing individuals should do is to try to start saving. You should aim for up to six months of liquid assets, or money you can get right away when you need it. It is not enough to plan to live off of stocks or credit cards. In these uncertain times, cash is king and without a certain amount stashed away for a rainy day, an individual can find themselves and their family severely hampered by an unexpected crisis situation.

Put at least some insurance in place. During a drawn out illness, having medical insurance or income protection coverage can be the difference between paying your bills and going into debt. Contact a California insurance agent at our agency today to learn more about the benefits of having the protection of a policy.