Love & Legacy: Protecting the People You Care About With Smart Insurance
February is often regarded as a month of love — focused on relationships, family, and the people we care about most. From a financial planning perspective, love also shows up in quieter, behind-the-scenes ways. One of those ways is through thoughtfully chosen insurance — a safety net designed to protect the people you love in the event of the unexpected or unthinkable.
Insurance isn’t about fear or worst-case thinking. It’s about responsibility. It’s about making sure the people who depend on you are cared for if life doesn’t go according to plan (which it has a way of doing). While most of us have grumbled when paying an insurance premium, what we’re really purchasing is peace of mind — and that is a privilege.
💡Most people don’t search for insurance because they love policies. They search because someone they love depends on them.
With that perspective in mind, here are some of the most common questions families ask — and how I encourage them to think about protection planning in a way that aligns with their values and long-term goals.
Why do people avoid insurance planning?
Because it’s uncomfortable.
Insurance forces us to think about situations we’d rather avoid — and hope never become part of our story. It asks us to acknowledge uncertainty, which can feel unsettling.
But avoiding the conversation doesn’t remove the risk. It simply delays the decision. When protection planning is ignored, loved ones are often left making high-stress financial choices at the worst possible time.
Clarity today creates confidence tomorrow.
Who should I be thinking about protecting?
Start with people, not policies.
For most families, that includes:
A spouse or partner who relies on your income
Children or dependents who rely on your care
Aging parents who may need future support
Business partners or employees whose livelihoods are connected to your role
Many people assume insurance is only about children, but protection planning often extends further than expected.
💡A helpful framing question is: “If something happened to me, who would feel the impact first — and how?”
What types of insurance coverage matter most?
Every household is different, but most well-designed protection plans focus on four core areas:
Life insurance — to replace income, cover debts, and create financial stability for loved ones
Disability insurance — to protect your ability to earn an income if illness or injury interrupts your work (2-3x more likely than early death)
Health insurance — to manage medical costs and reduce financial strain during health-related challenges (medical debt is still the #1 leading cause of bankruptcy)
Long-term care planning — to preserve independence and reduce emotional and financial stress on family later in life
Not everyone needs all of these at once. Priorities shift based on income, age, health, and responsibilities. These tools aren’t abstract — they’re practical safeguards for real life.
How much life insurance do I actually need?
This is one of the most commonly searched insurance questions — and one of the most misunderstood.
Rather than relying on formulas or rules of thumb, it’s more helpful to think in terms of time and impact:
How long would your family (spouse, kids, aging parents, etc.) need financial support?
What income would need to be replaced?
What debts or obligations would remain?
What future goals would you want protected?
The goal isn’t a perfect number. It’s creating stability, flexibility, and options for the people you care about most.
What’s the difference between term and permanent life insurance?
This question comes up often, and the answer depends on why coverage is needed.
Term life insurance is typically designed for temporary needs — income replacement during working years, mortgage protection, or raising children. It’s the cheapest form of coverage.
Permanent life insurance can support long-term planning needs — estate liquidity, charitable goals, or providing certainty when other assets may be illiquid. It also allows for the building of cash value which can be used during one’s life.
Neither option is inherently better. What matters is thoughtful alignment. When insurance is chosen with purpose, it complements the broader financial plan instead of complicating it.
Isn’t insurance just about planning for worst-case scenarios?
In a sense, yes — but the benefits are felt long before anything happens.
When protection is in place:
Decisions are clearer
Stress is reduced
Families have options instead of pressure
Good planning reduces fear, provides breathing room, and allows families to pursue goals with confidence.
How does insurance connect to legacy planning?
Legacy isn’t only about what you pass on someday. It’s also about how you care for others along the way. Stuff will fade and what will remain are the people you invested in.
A thoughtful protection plan:
Alleviates financial and emotional burdens
Reduces stress during difficult seasons
Provides liquidity that allows estate plans to work as intended
Allows loved ones to focus on purpose, not paperwork
Too many families are left in chaos because estate plans were left undone, unfunded, or incomplete. Don’t let that be your family’s story.
How often should insurance be reviewed?
Insurance isn’t a “set it and forget it” decision.
Major life changes — marriage, children, career shifts, business ownership, or caring for aging parents — often signal the need for a review. Even without a major change, periodic check-ins help ensure coverage still reflects your life and priorities. I recommend a full coverage review every 1-2 years and after any major life changes.
Where’s a good place to start?
Keep it simple by asking:
Do our policies reflect our current responsibilities?
When was our last protection plan review? What has changed since then?
Do our beneficiaries reflect our current wishes?
Would our family understand the plan we have in place?
Often, a brief review uncovers a need for small adjustments that make a meaningful difference.
Final Thought
Love shows up through preparation. Through choosing responsibility over avoidance. Through investments and sacrifice today, we protect the people entrusted to us. Through thoughtful allocation of our limited time and resources.
💡If you’re unsure whether your current coverage truly reflects your family’s needs, values, and long-term plans, a structured conversation can bring clarity and peace of mind.
At StillWater Financial Advisors, we believe financial planning should be clear, values-driven, and rooted in service — to family, to community, and to future generations. If this message resonates with you and you desire an experienced partner for the journey, we’d love to get to know you in the days ahead and help however we can.
