This income protection and college funding post has been sponsored by World Financial Group Insurance Agency Of Canada Inc., but all opinions are entirely my own. This is a paid endorsement for World Financial Group.
Daily life brings uncertainty in so many ways, with income protection and college funding being two of the many financial concerns we should all have and actively address. I know that there are so many other worries when you have a family, especially in a post-covid world. Many people don’t have jobs or worse. Things seem like they can change overnight and there’s little to nothing we can do to stop it. The cost of college seems to increase every year with no end in sight. Precautions need to be made and plans need to be set to ensure that your loved ones are taken care of as best as they can be.
What is Income Protection
Income protection may not be a household name like life insurance, car insurance, or even pet insurance is, but perhaps it should be. Income protection is a kind of insurance product that ensures you can continue to meet your financial commitments if you are forced to take an extended break from work. This is a critical issue to consider and address all of the time, but even more so in uncertain times.
Things happen all the time, like accidents, falling sick, or losing your job through no fault of your own. This is just reality. Income protection insurance comes into play when these unfortunate events pop up. Income protection only covers events beyond your control: so it’s unlikely it will cover you’re being fired from your job or injuring yourself deliberately.
You can then use the money to pay your debts, bills, and any other costs you have to keep your home and family going strong. The more dangerous or risky your job is, the more you may need to have income protection insurance. Just like any other insurance, it’s a “just in case” that you hope you never have to use but have a pretty good chance of using anyway,
How It Works
Income protection policies pay out a set amount of income based on the amount you think makes sense for you after a specified period. You can elect a waiting period of between one and 12 months; the longer you defer, the cheaper the policy. It usually then pays out until you either return to work, retire, the policy expires, or death. Before taking out income protection, check what cover you already have through your job, as many companies offer life assurance and sickness benefits.
Younger and healthier individuals will be offered cheaper premiums. It’s also beneficial to take out a policy before there’s any sign of trouble – to ensure you have the necessary cover in place should anything go wrong.
With a daughter that’s a junior and a son that’s a freshman in high school, there’s not much higher on the top of my mind than college funding and all that planning and work that goes into this major investment.
In its 2021 report, Trends in College Pricing and Student Aid, the College Board reports that a moderate college budget for an in-state student attending a four-year public college in 2021-2022 averages $27,330. For out-of-state students at public colleges, the average budget comes to $44,150, and for students attending private colleges, the average budget is $54,800.
That’s a lot of money for most people, and a great amount of thought and planning needs to go into all that has to be done to make paying for college a reality for your kids. There are so many options today and so many things to consider. It’s a big decision, as the cost of college rises just about every year. It can be a really daunting endeavor for most people.
World Financial Group Insurance Agency Of Canada Inc. (WFG)
There are so many places to purchase financial products, but I have found that World Financial Group Insurance Agency Of Canada Inc. and its agents really make a positive difference in many peoples’ lives. They understand the great importance of life insurance, income protection, college funding, and more to help protect families from life’s tragedies and how to get smart about retirement planning.
World Financial Group Insurance Agency Of Canada Inc., backed by Transamerica, has over 50,000 licensed agents across the US and Canada! That’s just a ton of agents. But the great thing is that these agents are helping people of all backgrounds gain control of their finances and protect what matters most. The agents can offer a wide range of products from over 50 well-known providers such as Nationwide and Pacific Life. WFG agents always have the customer’s best interests in mind. World Financial Group Insurance Agency Of Canada Inc. solutions are customized to the specific needs and goals of each client.
Becoming a WFG Agent
You know a company is pretty good when so many of its own consumers decide to become agents!! That’s a great testament to World Financial Group Insurance Agency Of Canada Inc. for sure. These consumers turned agents have been able to successfully build a business. They become leaders and even change their own lives. It all comes back to their financial success and lessons learned along the way.
Becoming an agent with WFG enables individuals to build their own businesses. You may also be making an impact in the lives of others. If you are looking to do something that will directly impact lives, you can do that at WFG. You have the power to create your own entrepreneurial career with complete back-office support and world-class training from some of the most successful agents in the industry. The infrastructure is there for you to take full advantage of!
Find Out More
To find out more about how WFG can help you with your income protection, college funding, and general financial needs, be sure to check them out at:
- General WFG Info
- Financial Solutions
- Business Opportunity
- Facebook (US)
- Instagram (US)
- Twitter (US)
- Search #WFG #WorldFinancialGroup #LifeInsurance #PersonalFinance
More From Guy and the Blog
Check out some of my pet features right here! If you want to see what I have to say about my hometown of Long Island, check this out or visit TheLongIslandLocal.com. More interested in some Food & Drink goodies, then please click here.
I have to do some more research on this. It sounds like something that would be perfect for us.
Some parents hesitate to save for college, believing that colleges will expect most of their savings to go toward tuition. But this is a great solution. I need to look more into it.
This is what we all need. The Pandemic has taught us a big lesson that nothing is certain and that we need to save for our future. There are a lot of families they can help with this.
Funding college is my big goal this year and in the upcoming years. Thanks for introducing us to this insurance agency.
I think that whatever your life’s goals, their financial professionals can help design a strategy tailored to your specific needs.
This is the first time I’ve heard about World Financial Group. Thanks for sharing. Tailoring a strategy is essential!
Such a smart idea to have income protection. So many uncertainties. I think we have learned a lot over the last 2 years.
This is awesome, it will help a lot of people to pay their college funds. Thank you for sharing!
Hhhhmmm…this could be a good investment for us here in Africa, if you ask me. We lose our jobs all over a sudden and are left hanging with no support for us at all. Thanks for sharing about it.
Very interesting. I never thought about income protection but I know my friends have. In fact, they needed it during the bulk of COVID!
I think it’s smart to look at things like this… If the pandemic has taught us anything, it’s that being prepared is necessary.
I have listened for several times about the World Financial Group insurance agency. It’s really good
Such a interesting article!
This is such a great way to protect yourself. Finances are really important, and we need to take them seriously!
Great tips. Being prepared with your finances is key!