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Craig Lundquist, MBA, ChFC®, CRPC®
VP of Wealth Management
651-773-2757
Kristin Becker
Senior Administrative Assistant
651-773-2821
Ideal Wealth Advisors
Located at Ideal Credit Union
8499 Tamarack Road
Woodbury, MN 55125
CRPC conferred by College for Financial Planning
January/February 2022
Insurance Front: Are You Covered?
Having adequate insurance coverage to protect yourself and your family from financial loss should be part of a comprehensive financial plan. Five types of insurance that everyone should consider are described below.
Automobile Insurance
Auto insurance covers the cost of vehicle repair, property damage and medical expenses if you’re involved in an accident. Most states require you to carry auto insurance if you own a car. Policies generally have three components. Liability covers injuries and property damage. Collision covers the cost of repairing or replacing a vehicle that has been damaged or destroyed in an accident. Comprehensive covers theft or damage to a vehicle from vandalism, fire, hail, floods and similar events.Homeowners/ Renters Insurance
A homeowners policy pays to repair or rebuild your home if it’s damaged or destroyed. Homeowners and renters policies also cover items inside the home that have been damaged or stolen.Health Insurance
The high cost of medical care makes having health insurance a necessity for your entire family. It can help pay for routine care, lab work, diagnostic tests and major medical expenses. Some plans cover prescription drugs.Long-term Disability Insurance
Long-term disability insurance replaces part of your income if you become disabled and are unable to work for an extended period of time.Life Insurance
Would your family be able to maintain its current standard of living if you were to die unexpectedly? Proceeds from a life insurance policy* can help replace income, pay funeral costs or fund a child’s college education.If you’re looking for protection that exceeds the limits of your auto or homeowners policy, purchasing an umbrella policy may bring you peace of mind. Your insurance agent can help you choose coverage that meets your needs.
*Applications for life insurance are subject to underwriting. No insurance coverage exists unless a policy is issued and the required premium to put it in force is paid. Accessing cash values may result in surrender fees and charges and may require additional premium payments to maintain coverage and will reduce the death benefit and policy values. Guarantees are based on the claims-paying ability of the issuer.
1-05200067
Securities and advisory services are offered through LPL Financial (LPL), a registered investment advisor and broker-dealer (member FINRA/SIPC). Insurance products are offered through LPL or its licensed affiliates. Ideal Credit Union and Ideal Wealth Advisors are not registered as a broker/dealer or investment advisor. Registered representatives of LPL offer products and services using Ideal Wealth Advisors, and may also be employees of Ideal Credit Union. These products and services are being offered through LPL or its affiliates, which are separate entities from and not affiliates of Ideal Credit Union or Ideal Wealth Advisors. Securities and insurance offered through LPL or its affiliates are:
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