Financial Zen Masters know how to protect themselves from financial ruin.
Bill & Mary saved diligently for 15 years.
They focused aggressively on retiring early and it paid off. They had accumulated enough to retire at age
51.
This was right around the time their first son started driving.
Anthony left the house that Friday night to drive to the high school football game.
It started raining somewhere around the 3rd quarter, so he and his friends decided to bail on the game
and head back to Tony’s house.
A few blocks from his house, Tony tried to beat a red light and saw the the driver turning right from the
cross street too late and slammed on his brakes.
But the roads were freshly slick, so Tony slid right across the watered intersection and through the entire
back half of the other driver’s car.
Thankfully, Tony and his friends were mostly okay all things considered.
But the other driver was definitely not okay. He broke his left leg at the femur and was knocked
unconscious from the whiplash.
After the other driver was rushed to the hospital, he found out the brain injury was substantial and
he would need to rehab for a very long time, would have substantial medical costs AND he’d be out of
work for at least a year.
As a high-powered corporate lawyer, he made over $1,000,000 per year.
Facing a substantial loss of income for an extended period, he sued Bill and Mary.
The judged ruled in the lawyers favor – $2,000,000 was the price tag.
That was basically all of Bill & Mary’s retirement savings.
Now instead of looking forward to financial freedom and a future overflowing with options, they were
now headed back to work.Unfortunately, no one told Bill & Mary about umbrella liability insurance.
If anyone had told them they could have gone from retiring at 51 to completely wiped out all within a
Friday night, they obviously would have purchased a Personal Umbrella Liability Policy.And that’s why
our calling is so strong at Financial Zen.
It’s not fair that solid, hard-working folks can get irreversibly damaged simply because they didn’t
know.
We want to spread the wealth of knowledge we have far and wide to make sure that the Bills and Marys
of the world are armed with the knowledge of personal finance.
So yes, you need umbrella liability insurance.
It can protect you from financial ruin.
