Real Life

Make Your Benefits Work For You

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The leaves may not be falling off the trees quite yet, but the days are getting shorter and summer has come to an end – whether you’re ready for it or not. The season for spooky costumes and comfy sweaters is nearly upon us, which means it’s also a great time to reevaluate your insurance options before open enrollment starts. This will ensure that your benefits and insurance coverages are doing what you need them to do and covering what you need protected.

Going beyond standard office benefits…

You know the drill, every fall you get a reminder from your company’s HR department to re-enroll in health insurance and other primary benefit plans. But are you considering what life changes you’ve gone through this year to make a better choice for the next? Reevaluating your needs is important every time your family makeup has been altered or your lifestyle changes.

Maybe this is the year you finally buy a house, or there’s a baby on the way and you need to get your will in order. Either way, legal insurance should be on your list of considerations. With many legal matters paid in full, it can ease the stress that comes from facing life’s challenges.

Paying into a health savings account might be something to consider adding or adjusting on your benefits. And upping your contributions to a retirement plan will have your golden years looking sweet indeed. Other things to investigate could be life insurance, financial counseling or pet insurance.

All things considered…

While you’re at it, why not take the time to make sure your other insurance requirements are also keeping you properly protected? You may review your coverage annually when renewal comes up, but unless you look everything over thoroughly, you may be missing some of the finer points.

  • If you live in an area that’s at risk for natural disasters, consider flood or earthquake insurance in addition to your main homeowner’s insurance.
  • Did you splurge on new computer equipment or buy a designer handbag? Does your renter’s or homeowner’s insurance cover expensive purchases if they are stolen or your home is damaged?
  • Is there a different or new driver making use of your vehicle? Double check that your auto insurance premium will cover all users of your car.
  • If you find yourself in the position of caring for an elderly family member, look into longterm care insurance which could help lessen your financial burden.  

Though insurance can often seem like a no-brainer, it is important to understand your coverage options and your needs before signing on the dotted line. Now is the perfect time of year to reassess your insurance options so everything is sweetly secured and protected before colder weather and the holidays arrive. Next year you’ll be thankful you took the time now, instead of waiting until later and ending up under or wrongly insured.

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