The Team You Need for Your Year-End Financial Checkup - Page 3 of 4
Magazine Money

The Team You Need for Your Year-End Financial Checkup

“Sometimes unscrupulous individuals claim to have licenses and experience. It’s easy to check online lists with boards certifying professionals to see that the individual is licensed before you hire them,” says Gee Fulbright. A good place to start is the American Institute of CPAs , which can direct you to your state’s CPA society.

To prepare for the meeting, peruse prior records and come up with questions and concerns that you’ve had in the past. Ask the CPA what specifically you should bring.

Why You Need an Insurance Agent
A life insurance agent needs to know about any life changes that would impact the level and type of coverage needed. Significant life events include marriage, divorce, birth or adoption of a child, a considerable increase in income from a promotion or job change, or an increase in liabilities, due to major purchases such as a new car or home.

“Most people do their financial planning when a financial tragedy happens to one of their family members or someone they know,” says Kenneth J. Royster, senior financial planner and chartered life underwriter (CLU) with First Genesis of Virginia, an office of MetLife. Why wait?

You want to ask questions similar to those posed to other team members, as well as, “Will you be accessible when I have questions? What licenses do you hold? Where did you receive your training?” recommends Royster. You can check with your state department of insurance to see if they are licensed and whether there have been any problems with your prospective agent.

If you’re wondering how much insurance you might need and to learn more about the various types of insurance, the Life and Health Insurance Foundation for Education and can get you on your way.

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