These are merely minimal suggestions for insurance portfolios during an individuals life-time. Each person is unique and needs to customize their portfolio based on a careful examination of their goals and current financial condition.

1. Suggested Insurance Portfolios
When you are not sure what
insurance you need.

2. Caveat
The portfolios you are
about to read are only
suggestions. Each
person’s insurance
portfolio should be built
with a careful examination
of the individuals future
goals and current financial
situation.

3. Term Life Insurance
Term Life insurance pays a cash benefit when
the insured dies. Since it has no cash value or
savings elements, it is currently very
inexpensive.

4. Disability Insurance
Also known as Disability Income insurance, this type
of insurance will pay a stated benefit while an individual
is unable to earn an income because of injury or illness.
Through-out this slide show, I recommend a 6 month
benefit period as a minimum. That is because Social
Security pays no benefits at all until an individual has
been disabled for at least 6 months. Roughly 60% of
Social Security Disability applications are denied. In light
of that, if you can afford the premium, I would
recommend that you get a benefit period longer than 6
months.

5. Major Medical Health Insurance
This type of insurance is what the politicians
refer to as “Health Insurance.” It pays most of
your medical bills when you are sick or injured.
It is the most comprehensive of all insurance
plans. It is also the most complex of all
insurance plans. In order to avoid surprises, make
certain that you have read and understand what
your policy will and will not cover.

6. Young Single
• Term Life Insurance = 1 x
annual salary or minimum
face amount allowed by
your insurance company.
• Disability Insurance =
minimum 60% of monthly
salary for 6 months.
• Major Medical Insurance
= High Deductible Health
Plan

7. Newlyweds
• Life Insurance = 3 x
annual salary
• Disability Income = 60%
of monthly income
• High Deductible Major
Medical

8. Family With Juveniles
• Term Life Insurance
(Wage Earner) = 20 x
annual income
• Term Life Insurance
(Homemaker) = enough
to pay for final expenses
& hire nanny until
youngest child is able to
be self-sufficient.
• Term Life Insurance
(Children) = $10,000 Child
Term Rider a.k.a. CTR

9. Family With Juveniles (continued)
• Disability Income (on wage
earner only) = 6 month
benefit @ 60% of monthly
income at a minimum.
• Major Medical with a
doctor’s office co-pay
benefit.
• Critical Illness = Major
Medical “Out of Pocket”
level plus deductible at a
minimum insurance if a
parent had a parent or
sibling with cancer, heart
attack or stroke.

10. Long Term Care Insurance
Often abbreviated as LTCI, this type of insurance
pays the expenses associated with a Home Health
Aide, Assisted Living, Adult Day-Care or Nursing
Home when the insured is unable to perform 2 of
the standard 6 Activities of Daily Living without
assistance or “stand-by” assistance. The other
condition that triggers benefits is when there is
evidence of “cognitive impairment” that would
make the insured a danger to himself or others.

11. Empty Nesters (Age 50-59)
• Term Life Insurance = Lower to
number of years to replace
60% of income until the
surviving spouse can qualify
for Social Security.
• Disability Insurance = 60% of
monthly income for at least 6
months.
• Long Term Care Insurance = At
a minimum get enough to pay
for you to hire a home health
aide today along with an
inflation rider.
• Major Medical Insurance =
High Deductible Health Plan

12. Empty Nesters Age 60-64
• Replace Life Insurance with
Long Term Care Insurance.
• Disability Insurance = 60%
of monthly income for 6
months until you are
eligible for Social Security
Retirement benefits.
• Major Medical Insurance =
High Deductible Health
Plan.
• Critical Illness = Your Major
Medical plan’s maximum
“Out-of-Pocket” expenses at
a minimum.

13. Retiree (Age 65)
• Medicare A
• Medicare B
• Medicare D
(Prescription Drug Plan)
• Medigap or
• Medicare Advantage