An insurance analysis helps determine the capital needed to cover potential risks and identifies the gap between available personal resources and the coverage required. This process ensures you're purchasing the appropriate amount of insurance. With so much at risk, you want to avoid underinsuring yourself, and just as importantly, you don’t want to purchase excessive coverage. This analysis also helps you select the right type of insurance based on your budget and specific preferences.

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A thorough insurance evaluation will also guarantee that you are addressing your most significant risks. While many individuals have life insurance to protect against the possibility of premature death, fewer are prepared for the more probable risk of becoming disabled or seriously ill. Studies suggest a 37% likelihood of experiencing a disability that prevents work due to an illness or accident, and a 27% chance of being diagnosed with a serious illness such as cancer, heart attack, or stroke. The financial hardship from losing income due to disability or critical illness is a major contributor to bankruptcy.

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For older adults, there is a 40% chance that they will need long-term care, which is becoming increasingly expensive and difficult to access. An insurance analysis can clearly show the potential financial risks if these types of coverage are not in place.

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Life is full of changes. Our financial and family situations evolve, we age, and health issues inevitably arise. As these changes unfold, our risks and needs shift as well. With major life events happening on average every few years, it is important to conduct a comprehensive insurance review at regular intervals to keep up with changing circumstances