At a time of mass media, there is an abundance of stories and ads about the importance of insurance cover. But what happens when you’ve had your cover put in place?

With the pace of day to day life, there is a tendency for people to set and forget about their cover. However, it is imperative that your personal insurance policies are reviewed on a regular basis to ensure you’re adequately covered.

How do you know when it’s time to review your insurance policies?

There are several life stages and events, which should act as a trigger for you to review your insurance policies.  Whether it be more responsibility such as starting a family, buying a house or even stressful events such as divorce or the death of a family member; these events should be treated as a call to action to review your insurance policies.

Starting a family and/or buying a family home
Whether you are having your first child or buying your first home these are memorable moments of your life; with these milestones comes the desire to protect the things that are most important to you.  Personal insurance policies can often be complicated and may require lengthy amounts of time to put in force.  It’s a good idea to review and implement adequate insurance cover before life’s adventures occur.

Death of family members
With it is the loss of a loved one or someone close to you taking ill, it is in moments like these we consider our own mortality and what we can do to prepare for life’s unexpected eventualities.  Ask yourself, do I have adequate insurance in place if something was to happen to me?

Personal insurance cover should be reviewed but not limited to the following situations:

• Marriage or divorce
• Starting a family
• Buying a house
• New job
• Kids enrolling in a new school or completing their education
• Illness or death in the family

By being proactive you are fulfilling your wish to protect the people around you financially should something occur to you.

Case Study:

Jody is a 28-year-old working as a nurse and wants to provide funds to look after herself should something happen so she has implemented a Total & Permanent Disability (TPD) cover. This gives Jody peace of mind knowing that she has the cover the will support her in a difficult time.

Mark is a married 40-year old that needs to make sure income keeps coming in to provide for his living expenses if he can’t work. He worked with the JBS Financial team to assess his situation and has now implemented income protection cover. In our discussion with Mark, we discovered that Mark is a small business owner so not only is important to have the appropriate insurance in place to support his family but we also discussed Key Person insurance for the business.

Personal insurance is a complicated area and should be discussed with a financial adviser.  Reach out to the JBS Financial team to review your circumstances and to ensure adequate insurance cover is in place for you.

By Jenny Brown – CEO and Founder

When we look at Estate Planning, the first thing that pops to mind is our Wills. After all, these legal documents dictate what will happen to our assets when we die. While this is a good start, you will more than likely have assets that are not covered by your Will and will need to be dealt with in a separate manner.

Jointly Owned Assets

There are 2 ways to structure jointly held assets and both are treated differently for estate purposes. The first and more common way is what is known as ‘Joint Tenants’. In this scenario, if you were to die, the asset automatically goes to the other owner. For example, a husband and wife purchase a house as joint tenants, if the husband were to die, the wife would now own the entire house. It does not form part of his Will.

The second ownership structure is what is known as ‘Tenants in Common’. In this scenario the 50% (or whatever % you own) is not automatically passed over to the other owners, it does form part of your Estate and will be distributed through your Will. For example, 2 business owners purchase a commercial building 50/50 as tenants in common. If one were to die, their 50% would go to their estate and as an example end up being owned by their partner. Now there may be an agreement in place where the surviving business owner then buys the other persons share from their partner, however the partner does now own the 50% rather unlike a ‘Joint Tenants’ situation where the surviving owner would automatically be allocated the other 50%.

Assets held by Private Companies or unit trusts

Sometimes a person has assets held by a company that he or she owns. The person may own all the shares in the company and might be the only director of the company, and in so doing is able to use and enjoy the assets. Whilst the person might own the company, it is the company that owns the assets. Thus for example the person cannot in their Will give away the company car because they don’t own the item. It is a common mistake by business proprietors that they forget that assets they use personally are not theirs but instead belong to the company.

The only asset that the Will maker has is the ownership of the shares in the company, not any specific assets of the company.

Units in a unit trust are similar to companies in that any units owned by you, not the assets owned by the trust, will pass to your estate to be distributed as per your Will.

Assets held in Family Trusts

Assets held in a Family Trust are governed by the determinations of the trustee of the trust and are not assets owned by the person who set up the trust and transferred assets to it. Such a person is unable in their Will to distribute the assets of what they might regard as “my trust”. Control of the trust post the death of the person might be capable of being governed by the Will, but the assets themselves are not the person’s to give away in the Will. In the event of the death of a trustee (where it is an individual trustee), the appointer will need to nominate a successor trustee.

Life insurance

When you set up a life insurance policy you may also nominate a beneficiary. Generally, the proceeds of a life policy are paid directly to the beneficiary, without any need to be included in a Will.

If you wish for your life insurance benefits to be controlled by the terms of your Will then you need to nominate your estate as the beneficiary of your policy. A lot of life insurance policies are owned by superannuation funds with the proceeds being paid into superannuation. This brings us to the next asset.

Superannuation

When dealing with superannuation assets you have the ability to nominate to the superannuation trustee to who the funds will be passed on. If no nomination is made then the superannuation trustee will distribute the funds according to their formula. It is therefore essential for you to make a nomination however most superannuation funds have two types of nominations available to you.

The first kind of nomination is a non-binding nomination. This is more of a suggestion to the superannuation fund of where you wish for your funds to be paid. The superannuation trustee is under no obligation to pay your super benefits as per your nomination and instead will try to contact all possible beneficiaries (spouses, kids, dependents etc) and for them to put forward their case on why they should receive any benefit.

The second kind of nomination is a binding nomination. This nomination instructs the superannuation trustee on where they need to pay the money. Note that this is an instruction and not a suggestion and the trustee is obligated to follow it. There are rules however on who can be nominated on a binding nomination as only ‘dependants’ (spouse, children, financial dependents) or your legal personal representative (your estate) can be nominated. Because of the absolute certainty of this nomination, a lot of binding nominations only last 3 years at which time they expire and will need to be renewed. There are some superannuation funds however that do offer non-lapsing binding nominations.

With both nomination types, once the trustee has made their decision it cannot be contested, unlike a Will. Therefore it is essential that it is set up correctly to ensure your funds are passed onto your preferred beneficiaries.

We often only think about our Wills when it comes to Estate Planning however when probably our 2 greatest assets, properties held jointly and our superannuation funds with any life insurance proceeds are not covered by our Wills we need to make sure the proper procedures are in place to ensure they are passed onto our preferred beneficiaries.

If you would like to talk to someone to ensure that your estate planning is adequate and in place to cover all of your assets, please reach out and discuss your situation with the JBS Financial team. 

In August of last year, ASIC completed a review of the direct life insurance industry and revealed some startling statistics in their report (Report 587).

Direct Life Insurance is defined as being sold to consumers by insurers or their sales partners, by outbound telemarketing, inbound phone calls from consumers, online or face to face (through bank branches). These products are sold with general advice or no advice given meaning that the consumer’s circumstances are not taken into account.

The report revealed that:

– 1 in 5 of all policies taken out were cancelled in the cooling off period

– 1 in 4 of all policies that remained in force beyond the cooling off period were cancelled within 12 months

– 3 in 5 of all policies sold were cancelled within three years

– 15% of claims from direct life insurance are declined and 27% of claims are withdrawn

The average declination of claims across the entire industry is 7%, less than half of that compared to direct cover.

ASIC believe that these high rates of cancellations and claim declines is due to consumers being sold products they don’t want, can’t afford, or don’t perform as expected.

ASIC also found that consumers struggled with the sales experience and complexity of the products, and consumer understanding of key features is often poor. ASIC identified a failure by the salespeople to provide adequate information about important aspects of the cover, including key exclusions and future premium increases. It is hypothesised that this lack of understanding about the product resulted in the high cancellation and claim declines.

A 2015 report, Underinsurance in Australia, with data compiled by Rice Warner revealed that that median level of:

– Life insurance meets 61 per cent of basic needs

– Total and permanent disability insurance meets just 12 per cent of basic needs; and

– Income protection cover meets just 16 per cent basic needs

So not only are people cancelling their covers early, even if they do hold the policies for a long time, the insured amount is often quite low compared to what they require.

At JBS we know that insurance can be complex with often slight differences between policies, but you do not have to try and organise it on your own. As well as selecting the best product for you, we can also help determine the appropriate amount of cover required ensuring that all of our clients are properly insured to protect themselves and their families. Finally, in the event of a claim, we will also be there guiding you through the process making everything as painless as possible.

If you are worried about your insurance levels but are too scared or time poor to go at it alone and would rather seek the help of a professional, please contact our offices at 03 8677 0688.

– Liam Rutty –

Life insurers will generally offer you the choice to have either Level or Stepped premiums, or a combination on their policies. The type of insurance premium structure you choose will affect the initial cost as well as the total cover over the life of the policy. Generally speaking the duration of the cover may help to determine the appropriate premium structure you should use.

Stepped Premiums – Stepped premiums increase as you age, reflecting the higher likelihood of a potential claim. Stepped premiums have a lower upfront cost over the short-term (when compared to Level premiums), however as you age, the Stepped premiums start to increase, and the longer it is held, the more significant the increase becomes. Therefore, if you plan to hold the level of cover for a long period, generally greater than 10 years, it may be more beneficial to take-up a Level premium.

Level Premiums – Level premiums can provide you with peace of mind as they are designed to remain stable. The premiums will remain stable from the policy commencement until you reach a predetermined age (e.g. age 55 or 65), at this point the premiums will switch to a Stepped premium. Level premiums can still increase due to indexation or other increases to the sum insured. Level premiums can also change if the underlying assumptions and/or expenses of the insurer have changed since the policy started – however this will generally affect the stepped premiums as well.

At the beginning of the policy, Level premiums generally have the higher upfront costs when compared to Stepped premiums. This is due to the increased risk of claim as the insured person ages have already been factored in.

Hybrids Premiums – Some insurers may provide you with the option of a hybrid premium structure that allows you to use Stepped premiums for a portion of the cover, together with Level premiums for the remainder of the cover. This allows the premium structure to be aligned to short-term or long-term needs within a single policy.

From the beginning it’s important that you implement the correct cover and policy structure, as replacement policies can result in Level premiums being calculated based on your age at the time of amendment. If you take out new cover later on, you may also have to undergo medical tests and the like, which could result in the possibility of loadings or exclusions being applied to your policy, if you end up changing. This could result in your new cover becoming more costly or even unattainable and therefore effectively locking you into your current cover with the incorrect policy structure and/or cover.

JBS can assist you with all your personal insurance needs and can help determine the right level of cover for you and assess which premium structure is more suitable for your needs.

In previous articles, we have written about the importance of ensuring that your biggest asset – your earnings capacity is protected.

A question we often get however is how do I know if what I have is ok?

There are many Income Protection policies on offer with many options but one of the biggest differences you need to understand what happens in the event of a claim with an Agreed Value Policy compared with an Indemnity Policy. The wrong option can have catastrophic consequences to your financial position when you need the cover the most.

In order to make the right choice, you must first understand the differences between these two options.

An Agreed Value Policy is signed off at the start, i.e. what level of income they’re willing to cover. It provides you with certainty at the time of insurance application, the amount that you have been insured for will be paid, if you need it.

Whereas with an Indemnity Policy, the benefit amount is estimated at the start but not financially assessed until the time of claim.

In both instances, you generally are able to insure up to 75% of your income, but the difference in the event of claim can be significant.

So which one is advantageous for you?

Indemnity Value Policies are usually cheaper when compared to Agreed Value. However, there is no certainty on the monthly benefits received upon the claim. Although Agreed Value income protection might be a little more expensive, it holds more value as it provides you with certainty on the benefit amount you will receive.

Indemnity value covers are suitable for people with a steady income over the years. However, it is quite common for things to change which may lead to the decline (sometimes only short term) of your income.

Possible reasons for a decline in income (which would impact on an indemnity claim but not an agreed value claim):

– You may be in a stable employment now but have you ever dreamt about starting your own business? Clearly, the goal would be to return to a similar or high income but this move can often lead to a short-term income drop and provide an exposure.

– You may wish to change your career entirely. This could involve further study and again a reduced income for a period of time.

– Your current industry or expertise may be subject to disruption which could affect your earning capacity or require further study.

– You may wish to reduce your working hours or start a family.

– You may have your hand forced and need to give up your career or dramatically alter your hours if a family member becomes very ill.

Unfortunately, one of the most tragic situations we have seen was with a middle-aged man who overtime had his work hours, job performance and income gradually get affected as a result of a debilitating mental health illness. The illness caused him to have to reduce his hours and responsibility and even take periods of unpaid leave. Rather than going on a claim in the initial stages, he struggled through perhaps in denial. The gradual decline in health eventually resulted in a claim; however, the claim was reduced as his pre-disablement income was actually lower than what it was when he took the policy out. Had he taken out an Agreed Value Policy, he would have been entitled to a higher level of income which would have provided much more financial support to him and his family and would have allowed him to focus on his recovery.

For anyone who has default Income Protection cover through work or a Superannuation provider, it is critical to understand these differences as often default insurance is on an Indemnity Policy basis.

It is also important to understand that the older we get the more “uninsurable we become” so locking in a good policy now while you are young and healthy can make a significant difference when you need the policy the most.

At JBS we help people assess their need for cover every day. We provide clients with piece of mind which allows them to get on with their lives in comfort knowing that they are covered. Please contact us so that we can provide you with the same level of comfort.

As long as you’re an Australian resident, you will have some form of personal insurance through Government agencies and bodies such as Centrelink, TAC and WorkCover. Often when asked about personal insurance cover, most people would simply suggest they have automatic cover through Work and their superannuation funds. There are several main concerns here. Firstly there are many misconceptions about what types of covers are offered by government organisations. For instance workcover will only cover you if you get injured at work and not if you injure yourself during out of work hours. Secondly people misunderstand the conditions which needs to be met before the insurance companies accept the claim. Lastly the cover amount may not be sufficient. For example work cover will only cover death for up to the maximum amount of $611,430 per person, which wouldn’t be sufficient if that person happens to have $700,000 of debt.

Let’s firstly have a look at the disability pension through Centrelink. To be eligible you must firstly be between ages 16 to pension age, pass the residency requirements and meet the income / asset test. Once you’ve met all these conditions your disability will then be assessed. To meet the disability requirement, you must be either permanently blind or assessed to be physically / mentally impaired and unable to work for more than 15 hours or more per week for the next 2 years. Furthermore you may be required to participate in support programs going forward. In other words your disability or condition must be very severe and permanent for you to receive support from Centrelink. Then there’s the NDIS (National Disability Insurance Scheme), which again is run by the government for anyone who suffers permanent disability such as permanent blindness, Down syndrome and autism. The biggest misconception regarding what the NDIS offers is the fact that NDIS does not offer monetary support, but rather provides aids and equipment to anyone who is eligible.

Now let’s have a look at the covers offered through WorkCover and TAC. Workcover provides insurance cover for all working Victorians. Each state has their own body, which operate similarly. Both WorkCover and TAC operate on a no fault policy meaning you will be covered at work or on the roads, even if it’s your fault that led to your injury / disability. The main consideration here is that you have to be either at work or on the roads, at the time of the incident. Furthermore it’s important to note that there are limits on how much WorkCover and TAC will payout in the event of death, total disablement and income supplement.

The last type of insurance we will look at is the default cover offered by our superannuation companies. For those of us who have super accounts will also have personal insurance cover attached. There are generally 3 types of insurance offered by industry super funds. Death / TPD or Income Protection. Depending on your super fund you may either have all 3, just one of them or none. Although generally more cheaper to fund, it’s important to point out that default insurance through super funds are very general and will most likely be on reduced cover, meaning the amount insured will reduce over time. This is exactly what you don’t want considering as we get older the chances of us claiming on insurance increases, whilst on the other hand the default cover is reducing on an annual basis.

So here’s a question. If you suffered a heart attack or stroke and required large sums of money for treatment, which of the above insurance covers will pay? The answer is none of them. Overall most of us will have access to some form of default personal insurance. It’s important to understand that these default covers in most cases will not provide you with adequate cover. Having a personalised insurance policy is crucial as it will provide you with customised insurance cover to meet your specific needs.

If you are unsure about what insurance you currently have or would like to review your insurance, please get in touch with the team at JBS to ensure you have the right cover in place.

Planning for the future is essential to financial planning. Having money now is great but it’s having money 5, 10, 15 years from now that really counts when it comes to financial planning.

So a plan is developed using appropriate strategies providing you with money in the future enabling you to achieve your goals. However, what if things go wrong? What if something happens where you are not able to achieve your future goals? No, I’m not talking about investment returns.

When planning and saving for the future, your income, expense and savings levels are critical. They are the main things that will determine how much money you will have in the future. So what happens if your income all of sudden stops? Or if you have a large one off expenses that depletes your savings and may even put you into debt?

Did you know:

Potential injuries, illnesses and even death can significantly hinder our ability to reach our goals and may even make them impossible. Our human thinking of “It will never happen to me” just doesn’t cut it when you look at the above stats. Accidents happen and cancer does not discriminate but there is something that we can do to minimise the impact. Life Insurance.

There are 4 kinds of Life Insurance each providing cover under different circumstances:

Death Cover – As the name suggests, this provides a lump sum amount to your beneficiaries when you die.

Total & Permanent Disability (TPD) Insurance – As the statistics show, we don’t always die but we can have serious injuries that stop us from working. TPD cover provides a lump sum payment if we are permanently unable to work due to illness or injury such as what may happen if for example we are in a serious car accident.

Income Protection – This provides you with a regular income if you are unable to work due to illness or injury.

Trauma insurance – Also known as critical illness insurance provides you with a lump sum if you suffer a critical illness for example cancer or a heart attack. The lump sum can be used to help fund medical expenses, payout your loans or whatever it is that you require at that time.

Planning for the future is important but those plans can go straight out the window if something devastating like a serious health issue happen to us. While we cannot protect against the emotional, mental and physical consequences of something happening we can protect against the financial aspects using a combination of insurance policies protecting us against death, illness and injury. Insurance however is complicated and there are differences between the policies offered by insurers. To ensure that you not only have the correct amounts of insurance in place but also the right insurance policy for you please contact the JBS office on 03 8677 0688.

*2002 Report of the Disability Committee, IAA
**AIHW (2008) Cancer in Australia: an overview 2008
***Access Economics Pty Limited (April 2007) Cost of Cancer in NSW, Report for The Cancer Council NSW.
^’National Road Safety Strategy 2011-2020’ – Australian Transport Council, May 2011

– Liam Rutty –

Towards the end of each year we always focus a lot on celebrating Christmas and New Years, however there’s something else we could also celebrate post-Christmas. We’re talking about celebrating your family’s financial security by having personal insurance in place. Having personal insurance cover in place means you and your family won’t have to deal with financial stress in the event of you being unable to earn an income or even passing away. Ideally all your personal insurance covers should be in place prior to the “Silly Season”, however if you haven’t done so already the new year is a perfect time to review your insurance needs.

With all the festivities and celebrations over and done with, for most of us it’s now time to pick up the pieces and start the New Year a fresh, which is a perfect time to review your personal insurance needs. Research from one of Australia’s largest personal insurance companies have found that only 37% of Aussies aged between 18-69 actually have life insurance and even more disturbingly only 18% have disability cover and income protection insurance. Further findings include how Australians are grossly underinsured. It’s estimated that the underinsurance gap in Australia is approximately $1.8 Billion, meaning there are a lot of Aussies out there who believe they have sufficient insurance cover, but in fact don’t. For most of us, we don’t like to think about insurance and when asked about how much we have, the first response is usually “I don’t know”.

So we come to a point where you should ask yourself, do you need personal insurance? The main reason you would put in place insurance cover, is to secure your family’s financial wellbeing. So if you have a mortgage, loans, kids etc… chances are you will need personal insurance. The question you have to ask yourself is, “if I’m unable to earn an income tomorrow, what would happen”? Then for those of you that already have some form of insurance cover in place, the question you should ask is “how do I know the level of insurance I already have in place now is adequate?” The short answer is to seek professional advice.

Whether you don’t have any insurance at all or looking to review your insurance needs, the best thing to do is see someone who is a professional in the area. Financial Planning firms such as JBS Financial Strategists will be able to determine what your insurance needs are and then formulate a strategy to ensure you have the correct and adequate cover in place. So as a new year’s resolution, do yourself a favour by ensuring you have adequate cover in place so you’ve got something else to celebrate about (your family’s financial security).

– Andy Lay –

The Australian & Securities Investment Commission (ASIC) have outlined the level of insurance claims which are declined each year by insurers:

ASIC revealed those who implemented their insurance via an adviser had a higher percentage of claims approved compared to an individual who purchased a policy direct from the insurer.

The value of obtaining advice when seeking to protect yourself and your family against the unthinkable should never be underestimated. The levels of insurance cover regularly run into the millions, and our clients are often surprised of how financially exposed they are should death, illness, or injury occur.

We are talking big numbers here, and when it comes to protecting your family, professional advice should always take precedence.

Without professional advice it can be very difficult to determine the level of cover required, which insurer to use, how the policy should be owned, and which type of premiums to select. Add to that going through the application and medical process it’s no revelation that many Australians are under-insured, especially those who choose to implement the insurance themselves.

In many cases, were it not for the adviser, those clients would likely either not start the process, or give up part way through.

There is a lot of value that advisers add to the insurance process, however in our experience, helping a client through an insurance claim is where we make the biggest difference.

We have had an unfortunate number of our clients claim on their insurance policies over the years. These have been due to death, permanent disablement where the client was unable to ever return to work, as well as a large number of claims due to cancer, and other illness / injuries where those clients were unable to work for a period of time.

Almost all of these client’s said the same thing to us upon receiving their claim payments, ‘there is no way I could have completed the claims process without you’.

There are a number of reasons for that. Claims require medical and sometimes financial evidence to be provided, and the forms can get quite technical. Paperwork isn’t fun at the best of times, but when a family is dealing with serious illness or death, it’s good to have the professional support of a Trusted Adviser.

We at JBS know we play a critical role in developing a protection strategy, and our true value shines through when a claim occurs.

It’s comforting for our clients to know they can rely on JBS to provide appropriate insurance advice, and be there to provide comfort, support, and take the pressure off at a very challenging period in a client’s time of need.

When it comes to insurance advice and claims, that’s the type of reliability you want.

Have you ever imaged the difference an insurance benefit could make in your life?  Below is a real life story of a JBS client who made the smart decision to protect themselves, and whose life has been transformed as a result.

At the time of his diagnoses, Steve*, aged 52 had just changed employment, taking on a lower paid role in a more challenging but better-suited environment.  With less than $20,000 in savings, the next few years had to be carefully managed from a financial point of view.

JBS received a phone call from Steve earlier this year who advise he was looking to cancel his Trauma and Income Protection policies due to cost.  We reviewed his financial position and income requirements, and determined his cash flow position justified retaining the insurance.  After reiterating the need for the insurance, Steve agreed to retain the cover.

Less than a month after, Steve was diagnosed with Cancer.  He stopped working immediately to begin the treatment and recovery process.  Steve had full private health insurance, however was left with out-of-pocket medical expenses totalling more than $20,000 after just 3 weeks of consultation and treatment.  This cost was expected to rise and with no employment income, financial stress began to set in.

JBS commenced the claim process, arranged all the required paperwork, corresponded with the insurer, and had the claim proceeds paid into Steve’s bank account within 8 days.  The Trauma claim payment of $150,000 allowed Steve to fund his medical bills and ongoing living expenses which removed all financial stress, and more importantly allowed him to focus on what really mattered which was his recovery.

Steve is recovering, however yet to return to work.  His Income Protection is providing him with around $10,000 per month which is sufficient to pay for his ongoing treatment, living expenses, mortgage repayments etc.

Around 4 years before his diagnosis, Steve initially met with JBS to discuss his goals & objectives, and financial planning needs.  Part of the advice JBS provided included Trauma and Income Protection and fortunately Steve listened and now, looking back, says it was one of the best decisions he had ever made.  Each year since that initial meeting, JBS engaged Steve to ensure he remains on track with the plan JBS set, as well as to regularly outline the important of his insurance levels.

Even this early on into his treatment and recovery Steve often thinks about what his life would have been like had he not had the financial support Trauma and Income Protection provided.

Steve’s diagnoses is not uncommon.  What is uncommon is the lack of insurance cover many people here in Australia have and the challenges that poses when illness / injury occurs.

During 2016, over 100,000 people here in Australia made an insurance claim on either a Life, Permanent Disablement, Trauma, and / or Income Protection policy.  Over $9 billion was paid to people like Steve.

Think about this:

– Not one of these claimants expected to claim on their insurance.

– If these claimants hadn’t received the $9 billion from their insurance policies, where else would they have got that kind of money?

– This is not a one-off statistic:  over the previous 5 calendar years the total claims paid out from the leading Australian insurers totals just under $35 billion.

That’s a lot of people who didn’t ever want to claim – but had to.  How glad do you think they and their dependents were, to have been wise enough to take the good advice of their adviser and plan for the unexpected?

Life isn’t always a smooth ride.  Should your health take a turn for the worse, you want to ensure you’re appropriately covered so you can meet the challenge head on.  Without the appropriate level of insurance, the financial stress could make your recovery a very tough hurdle to clear.

– Glenn Malkiewicz –