• SOURCE: Prudential Financial, Inc.

How to Avoid the Risk of Being Underinsured



.mp3 Audio Package
ANCHOR LEAD: For many Americans, the reality of how close they are to a possible financial disaster can be something they don't want to face. T.K. Anderson has more on making sure you and your family are protected. (:58) SCRIPT: Newsbreak, I'm T.K. Anderson. While many of us work hard to provide for our families, circumstances could change creating hardship for the underinsured. ALTA Wealth Management's co-founder and author of The Real Cost of Living, Carmen Wong Ulrich says a new survey from Prudential found there is a disconnect when it comes to disability insurance. CUT: (Wong Ulrich) Most folks say, yes it's very important to be able to replace your earnings should you become disabled. However, 72 percent of respondents said they do not have enough coverage or any coverage should they be on disability for 6 months or more. SCRIPT: Wong Ulrich says its open enrollment season and it's important to know your insurance needs. CUT: (Wong Ulrich) You want to make sure you go and see what's available too you. A lot of it depends on your salary and your living expenses. So a great short cut way to do this is "how much do you vital expenses cost you every month?" SCRIPT: Go to your employer's benefits department to find out what is available. You can also visit Prudential-dot-com-slash-benefits-matter. That's Newsbreak from Prudential. I'm T.K. Anderson.
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