It’s March and with it comes hints of Spring and for a lot of us who are into sports, it brings The March Madness College Basketball Tournament.   Year after year, “March Madness” captivates basketball fans with it’s intense matchups and unpredictable outcomes.  In order to come out on top, a team must be strategic to get to the elusive “Final Four.”

A parallel can be drawn between the tournament and securing one’s financial future.  When it comes to the “Financial Security Bracket,” where do you or your clients stand? Life Insurance, Long Term Care Insurance, Disability Income Protection and Annuities should be part of that final four in order to have a solid financial game plan.

A well designed “Financial Security Final Four” should include these elements:


  1. Life Insurance (The Slam Dunk of Financial Security)

Life Insurance can provide the most powerful impact under so many unexpected “what-if” scenarios.  It can be used to replace income, pay off debts, funds for a surviving spouse’s retirement income, etc.  The list can go on and on, but overall life insurance serves as one of the most versatile financial instruments.  It’s an offensive powerhouse to have as part of your game plan.


  1. Disability Income Protection (Guarding Against the Unexpected Full Court Press)

During the course of a basketball game, teams often face a full court press, which is a defensive tactic that puts extreme pressure on the opposing team.  During your financial lifecycle, there are times when you can face similar pressures through the loss of an income due to a sickness or injury.  A Disability Income Protection Plan places a financial defense in place that can head off that type of scenario and provide a replacement of income under those types of circumstances.


  1. Income Annuities (The Consistent Scorer in Your Lineup)

Every team needs a consistent scorer that they can rely on.  Annuities can be just that when it comes to providing a reliable, non-correlated and guaranteed income stream for retirement.  Payout factors for income annuities are at the highest rate in years.  There are also extremely competitive Indexed Annuities that offer very large guaranteed income floors with additional upside potential.  In short, Annuities can play an integral part in providing sound retirement income strategies.


  1. Long Term Care Insurance (The Overtime Strategy)

Sometimes, a basketball game can go into overtime. This part of a game requires an entirely different strategy.  This is no different when it comes to Long Term Care Planning.  I always say that no retirement plan is complete without a plan for an extended care event that often occurs in the “overtime” of your life.  LTC Insurance is a great way to protect against the financial challenges associated with such an event.


In the March Madness of financial security, you can take advantage of these “Final Four Strategies” when you implement the unique strengths of each.  Life Insurance, Disability Income, Long Term Care Insurance and Annuities can contribute to a well rounded safety net on life’s unpredictable court.

Take a long look at your own brackets (and the brackets of your clients), to make sure you always have that winning combination to get you to the Final Four and beyond.