There are three aspects of financial planning that are important for every young adult beginning their career: having the protection of disability and umbrella liability insurance along with appropriate estate planning. Having a serious accident or illness that results in disability is a catastrophic occurrence that can happen to anyone. Not having sufficient disability insurance ensures a potential life of poverty. If you have dependents, it is so much worse. Disability insurance should be in place in an amount to replace at least 60 percent of income. It is best (if possible) to pay the premiums with after-tax funds so that any benefits paid will be untaxed. Keep reading here.
Source: UBM Partner Site Diagnostic Imaging - For full article, please click here.