Yee Yin Fong’s Post

When Stacy first sat down with her financial professional to develop an estate plan, her goals were straight forward - she wanted to leave behind a legacy for her children and grandchildren without becoming a burden on them in her later years. She had invested diligently over the course of her career as an accountant and had a comfortable nest egg set aside for retirement. However, Stacy was concerned about the impact a chronic or critical illness could have on her financial stability and inheritance plans. The financial professional recommended that she purchase a life insurance policy with a chronic illness rider. This rider allowed Stacy to access a portion of the policy's death benefit if certified by a physician as unable to perform activities of daily living. While Stacy hoped she would never need it, she took comfort knowing there was a source of funds available if illness ever struck. Many years passed quietly and Stacy thrived well into her retirement, staying active and healthy. When Stacy was 82, she suffered a severe stroke that left her partially paralyzed. While her mind remained sharp, Stacy now required specialized care and would need to move out of her home into an assisted living facility. As Stacy’s assets dwindled under the weight of escalating medical and care bills, her son remembered the chronic illness rider. He contacted the life insurance company and helped Stacy file a claim for benefits. The tax-free payout from Stacy’s policy saved her remaining assets from depletion. She was able to move into a high-quality assisted living home near her family, where she enjoyed five more meaningful years before passing peacefully. Thanks to her foresight and strategic planning, Stacy still left a robust legacy to her heirs even after a prolonged illness - a testament to the power of utilizing living benefits. Schedule an appointment today for a complementary Financial Needs Analysis following which you will walk away with a customized financial solution tailored to your needs. Schedule here👉https://lnkd.in/dbTTPwgu #kelechiuguru #incomereplacement #livingbenefits #chronicillness Disclaimer! All names used are for illustration purposes, no connection to any real life situation or persons.

You're in a relationship and things are starting to get serious. You're looking at moving in together or maybe even getting married. Here are three goals for your life insurance to help keep you both financially stable. Once you're living together, you're going to find that in most cases you are going to start depending on both of your incomes for you to be able to live the way you want to live, lime where you want to lime and eat how you want to eat. If something happens to either one of you, you want your life insurance to be able to replace the amount of your income that's needed to meet the household expenses. That's the goal. If you're both working, if only one of you is working, the goal is a little bit different because your standard of living as a couple depends on one person's income alone. The other person is a dependent even before you have children. Your life insurance in that case needs to replace all of your income so that your spouse maintains their standard of living. And if you're in a relationship and you're building a future together, you're also building your retirement together. If one of you doesn't live until retirement, your life insurance needs to replace part of your retirement income as well. What it comes down to is this: When you're a couple and you're managing your income and expenses together, your insurance needs to replace your income for your spouse. If it doesn't, then your spouse needs to replace you to replace the income. Life insurance, like relationships, is about end game planning. If that's your mindset, there's a link in my bio to schedule a call, like and follow for more insurance advice. #InsuranceMom #trinidadinsuranceagent #lifeinsurance

How disruptive would it be to your family if you weren’t able to work? Accidents and unexpected illnesses happen. And sometimes these things can derail you from doing all that you do, including earning a living. >>>Yeah, but I have disability insurance at work. Well, that’s helpful but it typically only covers about 60% of your income, often for only a short period of time. And if you leave your employer, your coverage will most likely end. When you obtain private disability income insurance, it’s yours to keep as long as you pay the premiums. Owning your own DI policy can supplement your group policy and put you in the best position to maintain your standard of living. And when your income is protected, you’re free to focus on healing and regaining your strength. Coverage usually costs between 1-3% of your salary, and benefits are paid out monthly typically after a waiting period. Your income is important. Protect it like you protect your home, autos, health, and life. To start the conversation and get a quote, schedule an intro call with me. _____ Adding clarity to your life with money. Retirement • Cash Flow • Net Worth • Estate • Education • Asset management • Risk management • Multigenerational • Morganization • Collaboration • What's next? Be ready!

Protecting Your Most Valuable Asset: Your Ability to Earn In life's grand tapestry, your career and ability to earn are not just about fulfilling ambitions but about ensuring security for yourself and those you hold dear. Yet, often overlooked is the thought of what happens if, unexpectedly, you find yourself unable to work due to an illness or injury. How would you ensure your financial stability and protect your lifestyle and dreams? The truth is, while we diligently insure our homes, cars, and other possessions, we tend to forget about safeguarding our most critical asset: our earning capacity. The possibility of a sudden illness or injury that could interrupt this ability is more common than many realize. It's not just a matter of health; it's about maintaining your independence, your financial security, and your family's well-being during challenging times. Imagine having a safety net that provides you with a portion of your income if you're unable to work because of a health issue. This isn’t about navigating hardships alone; it's about having the support to continue paying your bills, taking care of your family, and focusing on your recovery without the added stress of financial strain. Whether you're self-employed, a business owner, or part of the workforce, this safety net ensures that an unexpected health event doesn't derail your financial plans or compromise your lifestyle. It's about peace of mind, knowing that you and your family are protected, allowing you to focus on what truly matters - your health and recovery. We're talking about the critical step of securing disability insurance. It's an essential strategy for anyone who relies on their income to maintain their lifestyle and support their loved ones. Don't let an unforeseen event disrupt your life's plans and dreams. Let's chat about how you can protect your future and ensure that you're covered, no matter what life throws your way. Your ability to earn is precious. Let's safeguard it together. Email - Sgreen@legacyinsig.com / Web - legacyinsig.com / Direct - 561-305-1384 #FinancialSecurity #ProtectYourIncome #PeaceOfMind

🌟 𝗟𝗶𝗳𝗲 𝗜𝗻𝘀𝘂𝗿𝗮𝗻𝗰𝗲 𝗳𝗼𝗿 𝗗𝗶𝗳𝗳𝗲𝗿𝗲𝗻𝘁 𝗟𝗶𝗳𝗲 𝗦𝘁𝗮𝗴𝗲𝘀 🌟 Life insurance needs can change dramatically as we progress through different stages of life. Here’s how to tailor your coverage to fit your unique situation, from young professionals to retirees: 1. 𝗬𝗼𝘂𝗻𝗴 𝗣𝗿𝗼𝗳𝗲𝘀𝘀𝗶𝗼𝗻𝗮𝗹𝘀: Starting your career or just beginning to build a family? Now is a great time to secure life insurance that can provide financial protection for your loved ones in case of unexpected events. Focus on affordable term policies to cover debts, living expenses, and future needs. 2. 𝗚𝗿𝗼𝘄𝗶𝗻𝗴 𝗙𝗮𝗺𝗶𝗹𝗶𝗲𝘀: With a family to support, life insurance becomes even more crucial. Consider increasing your coverage to ensure that your dependents will be financially secure. Whole life or universal life policies can provide lifelong protection and build cash value. 3. 𝗠𝗶𝗱-𝗖𝗮𝗿𝗲𝗲𝗿 𝗣𝗿𝗼𝗳𝗲𝘀𝘀𝗶𝗼𝗻𝗮𝗹𝘀: As you advance in your career and accumulate assets, it's essential to revisit your life insurance needs. You might need higher coverage to protect your mortgage, retirement savings, and other investments. Evaluate options that offer both protection and growth opportunities. 4. 𝗡𝗲𝗮𝗿𝗶𝗻𝗴 𝗥𝗲𝘁𝗶𝗿𝗲𝗺𝗲𝗻𝘁: Approaching retirement? Life insurance can play a role in estate planning and leaving a legacy. Consider policies that can help cover estate taxes, leave a financial gift to heirs, or fund charitable causes. 5. 𝗥𝗲𝘁𝗶𝗿𝗲𝗲𝘀: Even in retirement, life insurance can still be beneficial. It can help cover final expenses and ensure your legacy is preserved for your loved ones. Look into policies that offer flexible options based on your current financial situation. Regardless of your stage in life, selecting the right life insurance policy is crucial for peace of mind and financial stability. Book your paramedical exam with Medical Profiles today to stay informed about your health and make the best insurance choices for your situation. #LifeInsurance #FinancialPlanning #LifeStages #InsuranceNeeds #SecureYourFuture #PeaceOfMind #MedicalProfiles

🔒 **Secure Your Family's Future with Life Insurance** 🔒 Life insurance is a critical aspect of financial planning, safeguarding your family's well-being amidst uncertainties. At Georgia Safe Retirement Planners, we understand the complexities involved in determining whether both spouses need coverage. Here’s how we can assist you: 1️⃣ **Assess Your Financial Responsibilities** Evaluate your obligations—income replacement is vital if one spouse supports the household. Consider debts like mortgages or car loans, and factor in the economic value of stay-at-home parents, particularly concerning childcare and education. 2️⃣ **Choose the Right Type of Life Insurance** Decide between: - **Term Life Insurance**: Affordable coverage for a set period, ideal for temporary needs. - **Permanent Life Insurance**: Lifelong coverage that builds cash value, suited for long-term financial obligations. 3️⃣ **Balance Coverage Needs** Each spouse may require different coverage levels based on income and future needs. Striking a balance ensures both partners are protected adequately. ✨ **Our Commitment**: - **Comprehensive Needs Analysis**: A thorough review of your financial situation for optimal coverage. - **Custom Policy Options**: Tailored life insurance solutions to fit your budget. - **Ongoing Support**: Continuous guidance to keep your policy in line with your evolving financial goals. Life insurance is more than a financial tool; it’s about ensuring your loved ones are safeguarded from financial hardship. For most couples, having coverage for both spouses is a prudent choice for a secure future. 💬 Interested in exploring your life insurance options? Contact us for a free consultation, or read more here: [Georgia Safe Retirement Planners - Life Insurance](https://lnkd.in/ezrJ5TwH) #LifeInsurance #FinancialPlanning #GeorgiaSafeRetirementPlanners #FamilySecurity #InsuranceSolutions #RetirementPlanning #PeaceOfMind

January marks a deeply personal milestone for me—this week sees the anniversary of my mother’s passing in 1996. Losing her to cancer was devastating for our family, not only emotionally but also in ways we didn’t fully realise until years later. 💔 When a matriarch—the glue of the family—is diagnosed with a serious illness, the ripple effects are profound. My mother was the heart of our household. Her absence left my father not only grieving but also grappling with the responsibility of running his business while managing a family in turmoil. 😔 As children, we faced a future marked by uncertainty and loss, compounded by the emotional and logistical challenges that followed. Reflecting on this experience, one truth stands out: life is unpredictable. 🌪️ A negative diagnosis or an unexpected loss doesn’t just disrupt the personal aspects of life; it has the potential to derail the operational flow of businesses and families alike. Time spent sorting through disorganised affairs—whether it’s business operations, financial records, or even family plans—is time that could be better spent with loved ones. No amount of money from insurance policies will replace that time. At MyPath Wealth, we’ve made it our mission to help time-poor business owners and their families prepare for the unexpected. ✅ Whether it’s building intergenerational wealth, creating contingency plans, or simply getting organised, we aim to ensure that no moment is wasted when life takes an unexpected turn. When families are well-organised, they’re better equipped to navigate difficult times. Instead of scrambling to figure out what needs to be done, they can focus on what truly matters: each other. ❤️ If you’ve ever felt overwhelmed by the thought of organising your business and family affairs, it’s worth asking: Beyond adequate life insurance cover, are you prepared for the unexpected? 🤔 Let’s have a conversation about how you can create a legacy that’s built to last—and not a mess to untangle. #LegacyPlanning #WealthManagement #FamilyOffice #BusinessOwners #TimeIsPrecious #IntergenerationalWealth #MyPathWealth

If I die today, my family will inherit:⁣⁣ ⁣⁣ ⁣⁣ ASSETS + DEATH BENEFIT⁣⁣ ⁣⁣ ⁣⁣ If I die 𝘢𝘯𝘺𝘵𝘪𝘮𝘦 besides today, my family still gets:⁣⁣ ⁣⁣ ⁣⁣ ASSETS + DEATH BENEFIT⁣⁣ ⁣⁣ ⁣⁣ I know, with 100% certainty, at some point in my life I'm going to die.⁣⁣ ⁣⁣ ⁣⁣ Everyone does.⁣⁣ ⁣⁣ ⁣⁣ YET, we're taught and advised to buy term insurance because "its cheap" and we can "invest the difference" 🙄⁣⁣ ⁣⁣ ⁣⁣ Weird advice since, statistically, we are 𝘷𝘦𝘳𝘺 unlikely to ever receive a term insurance death benefit because, again statistically, we are highly likely to outlive it (then that money simply becomes lost opportunity cost 😭 )⁣⁣ ⁣⁣ ⁣⁣ So, what do I do and what do I recommend?⁣⁣ ⁣⁣ ⁣⁣ Well, if it's an option I forego temporary insurance (or, minimally get convertible term insurance) and opt for as much whole life insurance as I can get because when I die I want my family to get 𝐁𝐎𝐓𝐇:⁣⁣ ⁣⁣ ASSETS⁣⁣ ⁣⁣ and ⁣⁣ ⁣⁣ DEATH BENEFIT ⁣⁣ ⁣⁣ ⁣⁣ As opposed to 𝐎𝐍𝐋𝐘:⁣⁣ ⁣⁣ ASSETS⁣⁣ ⁣⁣ ⁣⁣ I love my beautiful family, shown here in the Great Smoky Mountains, to the 🌙 and back.⁣⁣ ⁣⁣ ⁣⁣ And I want to position them for the highest chance of success possible after my passing by having BOTH awarded to them.⁣⁣ ⁣ And if my assets (or retirement account if I had one) was not sufficient to provide for them...guess what they have as a buffer?⁣ ⁣ ⁣ My death benefit 💰⁣ ⁣ ⁣ That's peace of mind.⁣ ⁣⁣ ⁣⁣ How about you....what do you think? 🤔⁣ ⁣ #smokymountains #realestate #realestateinvesting #lifeinsurance #wholelifeinsurance #cashvalue #death #deathbenefit #assets #family #legacy #benefits #protection

Six years ago, our new client's life changed forever. Her husband was tragically killed in a car accident caused by a driver under the influence of drugs and alcohol. The driver was uninsured and eventually found guilty of first-degree manslaughter. Our client not only lost her loving husband and income support but also continues to suffer emotional pain. This devastating event left her facing numerous financial challenges: 🔹 She received only $25,000 under her uninsured motorist coverage - the minimum allowable in Oklahoma. 🔹 She couldn't claim widow's benefits for three years, as she was under 60. 🔹 Her husband's group term life insurance provided just $50,000. 🔹 The reduced pension she began receiving was far less than her husband's salary. 🔹 Living on a small Social Security disability income, she now had to make ends meet with a small pension, a rollover IRA, and her husband's 401(k), which together only replaced 50% of his pre-death earnings. If we had the opportunity to advise our client before this tragedy, we would have recommended: •Increasing her husband's life insurance, as the higher-income earner. •Raising uninsured motorist coverage to at least $500,000 - matching their net worth. •Boosting liability coverage on their home and auto insurance to $500,000 to protect their assets from litigation and preserve wealth. •Increase his investment into his 401k and so much more based upon goals and values. Financial planning is so much more than just saving for retirement. It's about protecting your family's future against unforeseen circumstances and being prepared before these events because life happens. We would have invited both our client and her husband to come in together to discuss their options and create a comprehensive plan that ensured they were well-protected and prepared for the worst-case scenario. Our goal for every client is to Plan,Accumulate, Grow, Preserve and Manage your Wealth. Please learn from our client's heartbreaking story and make sure you're prepared. A proactive approach to financial planning can make all the difference in the face of life's unexpected challenges. #FinancialPlanning #LifeInsurance #UninsuredMotoristCoverage #AssetProtection #TogetherWePlan

🏡💼 Just the two of us we can make it if we try🫶 just the two of us👫 YOU AND I 💝 Of course! Imagine this: You're a couple, just the two of you, building your life together. You may think, "Why do we need insurance? We don't have kids yet." Here's why it matters even before kids come into the picture. 🟢Firstly, insurance isn't just about protecting children. It's about protecting each other. If one of you were to pass away, life insurance can provide financial support to the surviving partner. It can help cover bills, mortgage payments, and other expenses, easing the financial burden during a difficult time. 🟢Secondly, think about your future goals. Maybe you dream of buying a house or starting a business together. Insurance can be part of your financial plan to protect those dreams. For example, disability insurance can provide income if one of you is unable to work due to an illness or injury, helping you stay on track with your plans. 🟢Lastly, insurance can also play a role in your retirement planning. Certain types of life insurance policies , for example an Endowment Insurnace, which provides a guaranteed tax free lump at a certain age, which can use in the future to supplement your retirement income, actually be your retirement income, or cover unexpected expenses. So, even without kids, insurance can be a valuable tool in protecting your present and future together. It's about safeguarding each other and your dreams, no matter what life may bring. 🔆Follow and like for more insurance content #InsuranceForTwo #DreamBig #FinancialSecurity #future