5 ways life insurance pays off for the living

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Regardless of where you are in your career and how successful your practice becomes, there will always be things you can’t control. Between your job, caring for kids and keeping yourself mentally and physically fit, there’s not a lot of time to worry about life’s great "what ifs". 

  • What if I’m diagnosed with an illness?
  • What if I become disabled and can’t work as a lawyer?
  • What if something happens to my practice?
  • What if my investments tank?
  • What if I die?


These are all common stressors that come up throughout your working life and well into retirement. Your Lawyers Financial advisor can help you tackle each one as part of a comprehensive household financial plan that allows you to stop thinking about “what if” and focus on "what I can do now"

Reduce stress at every stage of life

Here’s how an insurance plan can anticipate your needs and protect you from life’s unknowns. 

What if... We've got a plan for that How does it work?
I'm diagnosed with an illness and can't work for a long time? Our critical illness insurance policies cover 25 of the most common illnesses that could require you to take time off for treatment and recovery. You’re eligible to receive a one-time tax-free payout as soon as you’re diagnosed with a qualifying condition. You and your family can spend that money any way you choose.
Learn more about what to expect when you’re unexpectedly ill.
I become disabled and can’t work as a lawyer? Lawyers Financial disability insurance can provide monthly income from now to retirement if you can’t work as a lawyer. You can’t be forced to take another occupation. Once it’s determined that you can’t work as a lawyer, you receive an income based on a percentage of your salary every month until you return to work or reach the age of retirement. 
See for yourself how disability does not mean downfall
Something happens to my practice?  From flooded floors to cybercrime, you can easily protect your practice from unexpected losses, damage or data theft. Your Lawyers Financial advisor will help you assemble the right combination of insurance policies to keep you safe and get you back in business as fast as possible.

My investments tank right before I need the money? 

Of course, you want your investments to grow and you expect the money to be there when you need it. 

For short-term goals like saving for a down payment, you need to match your timeline with the right level of investment risk to keep up with today’s rising prices. 

Long term
For longer-term goals such as retirement, there are many ways to lock in the value of your savings, ensuring a worry-free retirement income for life. Permanent life insurance and the DBplus pension plan are two ways you can take the stress out of managing your own investments.     

Short term
Tax-free savings accounts and programs such as the Home Buyers’ Plan can help you maximize the size of your down payment.

Long term
Permanent solutions such as non-par whole life insurance, are guaranteed to provide a tax-free payout to your beneficiaries. It also includes a “cash portion” that grows like an investment over time. 
DBplus is the pension plan lawyers can call their own. Your contributions are managed by a team of investment professionals and your lifetime income is guaranteed. 

I die?

Early in your career, your lifetime earning potential is your greatest asset. Term life insurance can replace your income so that your family can carry on without having to sell assets. You buy life insurance in a series of terms (typically, 10-year increments) and can renew your policy up to the age of 80. If you die while you’re covered, the policy pays a tax-free benefit to your beneficiaries. 

Add it all up 

When you stop worrying about “what if” and plan ahead for life’s unknowns with a thoughtfully prepared insurance policy, you can:

  1. Reduce stress: Feel good about checking insurance off your list and worry less because you’ve got a plan to protect your family and your firm. 
  2. Lock in your legacy: Life insurance, particularly permanent coverage, ensures that you can leave an inheritance to your children. So there’s less pressure to stockpile money. 

What now? 

Let your Lawyers Financial advisor help you plan for all the “what ifs” early in your career, so you can focus on your practice and your life. 

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