b'FOR YOUR PRACTICEAre you carryingenoughlife insurance?Contributed by Having worked with dentists and physicians for decades now, we believe we understand Shawn M Johnson, ChFC, CLU, CLTCtheir career trajectory, and with that comes an understanding of their financial trajectory. Vice President, Business DevelopmentMost incur a substantial amount of debt to fund their education. Upon graduation, that Treloar & Heisel, Inc.debt trend shifts as they begin to make money. If this is you, then you know what I mean (and if you are still in training, hopefully this will be your story soon). At some point, you will be able to save money toward future goals. You may purchase your home, perhaps you will start a family and choose to provide opportunities for your children. All of this is possible. How will your family continue living the way you envisioned?When all this growth is happening in your life, its easy to ignore the potential risks that could get in the way of your vision for the future. Or, you may be so busy with an expanding practice, a growing family, and other initiatives that you simply forget to account for possible disruptions to your financial picture. What if the unexpected happens? Overall, 52% ofSomething I know from personal experience through giving financial advice to many dental and medical professionals is that from a life insurance perspective many of you are American adultswoefully underinsured. What does it mean to be underinsured? It may seem obvious, but it report owning lifebasically means that if you were to unexpectedly pass away, your family would not be able to maintain the lifestyle to which they have become accustomed based on your income.insurance, and 41% of adultsboth insuredA significant portion of the population is underinsured. Its not just dentists and physicians who are underinsured when it comes to life insurance; and uninsuredits a big swath of the working population. According to research conducted by the Lifesay they dontInsurance Marketing and Research Association (LIMRA) and Life Happens, Overall, 52% of American adults report owning life insurance, and 41% of adultsboth insured and have sufficient lifeuninsuredsay they dont have sufficient life insurance coverage. insurance coverage. If you are reading this, chances are high you are a dentist or physician, and its possible that you, too, may be among the 41% of the American population that doesnt have sufficient life insurance coverage. For example, unless there are significant additional assets, a specialist earning say $400,000-500,000 a year may not be appropriately covered with just $2 million of life insurance.28'