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Dianne Williams Wildt, MBA

Certified Retirement Counselor®

Since 1983 in the financial services and investment industry

 

Retirement Pathways, Inc.

4500 Bowling Blvd., Suite 100

Louisville, KY 40207

 

Phone:  502-797-1258

 

Email: dianne@retirementpathways.com

Website: www.retirementpathways.com

May/June 2025

Time for Your Insurance Audit

Time for Your Insurance Audit

Summer is around the corner and wind, rain and firestorms will follow. Even if you understand the need for protection like property and health insurance, you may find yourself uninsured or underinsured for certain events.


Natural Disasters
Start with flood insurance. If you live in a flood plain, this is a necessity. If you don't, you may still need the coverage. According to the Federal Emergency Management Agency (FEMA), more than 20% of flood claims come from properties outside the high-risk flood zone.


If you live in an area prone to damaging windstorms like hurricanes or tornadoes, you may need additional property insurance. The same is true for earthquake zones, where you may have to buy separate insurance for this peril.


Also consider carrying general liability and property insurance for general risks around your home, and use umbrella insurance to fill coverage gaps. Talk to your agent to see if you're fully insured.


Personal Insurance
Next, consider your current personal insurance and learn if it is too little, too much or non-existent. Start with disability income (DI) insurance. The younger you are, the more likely it is that you'll become disabled for a period of time than experiencing an early death. If you couldn't fund your needs without your income, you probably need DI insurance. If DI is offered through work, consider buying it.


Life Insurance
If your family has grown or added goals, such as a child's college education, you may find you need more life insurance. Conversely, if your financial obligations have lessened as you age, you may learn you don't need all the life insurance you presently own. Talk to a financial professional to learn more.


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Investment advisory services offered through American Capital Management, Inc., a State Registered Investment Advisor. Retirement Pathways, Inc. is independent of American Capital Management, Inc.
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