Page 6 - The Shores of Tequesta - August '23

Page 6, The Shores
Financial Focus ®

What Does It Cost Not To number of children, educational expenses and final expenses Finding out about the benefits, costs and types of life
insurance can help you make informed choices to help protect
for funeral arrangements.
Have Life Insurance? • What type? You can essentially choose between two your family for years to come – so don’t delay learning what
basic types of life insurance: term and permanent. As its name you need to know.
By Sally Sima Stahl suggests, term insurance is designed to provide coverage This article was written by Edward Jones for use by
It’s probably not on your for a designated period, such as 10 or 20 years. Generally your local Edward Jones Financial Advisor, Edward Jones,
calendar, but September is speaking, term insurance is quite affordable for most people, Member SIPC.
Life Insurance Awareness especially when they buy policies as young adults. On Edward Jones is a licensed insurance producer in all states
Month. And that means it’s the other hand, permanent insurance, such as whole life and Washington, D.C., through Edward D. Jones & Co., L.P.,
a good time to become more or universal life, is usually considerably more expensive and in California, New Mexico and Massachusetts through
aware of the benefits of than term insurance. This is because permanent insurance Edward Jones Insurance Agency of California, L.L.C.;
having life insurance – and premiums, in addition to providing a death benefit, help build Edward Jones Insurance Agency of New Mexico, L.L.C.; and
the dangers of not having it. cash value, which you can typically access through loans or Edward Jones Insurance Agency of Massachusetts, L.L.C.
Unfortunately, confusion withdrawals, giving you additional flexibility should your Edward Jones, its employees and financial advisors
about some of the basic financial needs change over time. In choosing between term cannot provide tax advice. You should consult your qualified
elements of owning life and permanent insurance, you’ll want to evaluate several tax advisor regarding your situation.
insurance may be keeping people from getting the protection issues, such as how long you think you’ll need coverage and Contact us at (561) 748-7600, Sally Sima Stahl, AAMS,
they need. More than half of uninsured Americans say they how much you can afford to pay in premiums. 1851 W. Indiantown Road, Ste. 106, Jupiter, FL 33458.
have put off purchasing coverage because they don’t know
what to buy or how much they need, according to Life
Happens and LIMRA, two nonprofit organizations that Identify Dyslexia Early
provide research and education about life insurance.
Yet, while this confusion may be understandable, a delay
in acquiring appropriate insurance can be costly in more ways By Jim Forgan, Ph.D., and provided her with the paperwork needed to obtain
than one. From a strict dollars-and-cents perspective, it’s School Psychologist school help through an Individualized Education Plan
generally much more affordable to buy life insurance when Dyslexia can be (IEP) as well as apply for and receive the Florida Family
you’re younger. But there are potentially much greater costs identified in a child who Empowerment Scholarship. The scholarship money
involved in not having insurance when it’s needed — and is at least halfway through helped mom pay for one-to-one private tutoring using
these costs are personal. kindergarten and age 5½ the gold standard Orton-Gillingham multisensory reading
To be specific, what is it worth … or older. There are always instruction. This approach has decades of research
… to know your family could stay in your home if early warning signs like backing its effectiveness in helping people with dyslexia
something happened to you? those in Chris that point become strong and proficient readers.
… to know your children could continue their education to reading difficulty. Once your child is officially diagnosed with dyslexia
plans? Chris’ mom explained there are five ingredients for helping your child overcome
… to know your debts could be paid without burdening it this way. In Pre-K Chris dyslexia. You must have the right curriculum, use it at
your family? had difficulty identifying letters and the sounds they least twice a week one-to-one, keep at it for over a year,
Clearly, if you were to assign these benefits a “price tag,” made as well as rhyming. In kindergarten she still had work with a trained reading specialist, and keep your child
it would be pretty high. trouble rhyming. She had trouble sounding out words engaged and incentivized. We’ve seen this recipe work
And that’s the value of owning sufficient life insurance. when reading. Her reading was labored, not quick or for children time and time again.
So, let’s return to the issue of people putting off buying fluent. She guessed words by their first letter. She mixed I co-authored the book Parent’s Quick Start Guide to
insurance because they don’t know how much they need, or up letter sound sequences in a word or forgot the same Dyslexia which provides a quick, but deep dive into what
what type they should have: word she just read on the previous page again and again. to immediately do when your child is diagnosed with
• How much is enough? You might hear that you need She seemed to learn best memorizing flash cards. She dyslexia. When it comes to helping your young child,
life insurance equal to about seven to 10 times your pretax can somewhat read but it has taken way more amounts time is too precious to squander.
annual salary. That’s not a bad “ballpark” figure, but not of flash cards and assistance than should be required. I Call to discuss your child as we test for autism,
everyone is playing in the same ballpark. To get a true think she has dyslexia. dyslexia, dysgraphia, ADHD, depression, and anxiety.
sense of how much of a death benefit you require from your Our thorough testing confirmed this mom’s intuition Visit JimForgan.com or call (561) 625-4125.
life insurance, you’ll need to consider a variety of factors,
possibly including your current income, spouse’s income,
the size of your mortgage (in addition to other liabilities),

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