Just about everyone out there is only too well aware that we are in very difficult economic times which are going to become more difficult before they get better. Here we offer points, guidance, direction, & advice to the general public in an effort to enable individuals, families, & small businesses to retain coverages that they have presently in force & /or to obtain coverages that make the best sense under these current conditions. Since insurance is such a broad field, we limit the topics to life insurance, medical coverage, accident/sickness disability income protection, Medicare supplementary coverages, & retirement funds, both in deferral & distribution status. Retirement funds include both qualified & non-tax-qualified accounts. With unemployment levels anticipated to reach 10% during 2009, putting the country in deep recession(some would say depression), we will divide this commentary into three parts:
Those who are unemployed & /or businesses which have gone under or are about to.2. Those other 90% or so who remain gainfully employed, whether as an employee, self-employed, or small business owner.3. The retired & the disabled. For our purposes, we will limit the time frame to some kind of economic recovery or stabilization at two years, say, 2011. By then, things will probably look better. Let us hope that this is the case. So let us begin.1. For those who have become unemployed, what can a financial advisor, insurance-oriented professional, or trusted consultant actually offer? Fair question. After all, without an income, especially after unemployment compensation runs out & savings dry up, what can we talk about? The obvious first step, it hardly needs to be said, is to make finding a job or starting a business into a process, that is, into a full-time job. And, yes, there is work to be found out there. It may take a while, maybe a long time. Still, unless one is quite rich, this is the first priority. That said, in the meantime, until the employment problem is solved, there are some things to be done:Article Source: http://EzineArticles.com/2212787
