Financial Planning Objectives | Insurance Glossary

Definition of "Financial planning objectives"

Goals of the financial planning process as follows:

Standard of Living Maslow's basic needs satisfied such as food, water, clothing, shelter, and nice-to-have discretionary items, such as automobiles, vacations, entertainment.
Savings emergency funds for sudden and unexpected events, such as extra living expenses because of a fire at one's home.
Protection DISABILITY INCOME INSURANCE; HEALTH INSURANCE; LIFE INSURANCE; PROPERTY AND LIABILITY INSURANCE (all forms designed to offer coverage against the uncertainty of a financial loss due to the PURE RISK).
. Investment Accumulation of wealth through the return on assets deployed leading to financial independence.
Estate Planning distribution of the invested assets held for the purpose of the accumulation of wealth in a tax efficient and effective manner.

In property insurance policies, provision that states that the insured will receive indemnity for ex ...

Area containing running water facilities, electrical outlets, recreational accommodations, etc., for ...

Person receiving la legacy from a will. Normally a legatee will receive personal property possibly i ...

A mortgage with no down payment requirement, available only to ex-servicemen and women, on which t ...

Addition to a written policy. ...

Not attached to any parcel of land but merely a personal right to use the land of another. ...

A type of purchase in which the buyer assumes the responsibility of making payments on a sellers hom ...

A default is when a person fails to make payments on a loan. ...

The right of a property owner to have and enjoy all of the advantages of property ownership includin ...

A credit report is a report of all your debt information compiled by an independent agency. The cred ...

Escrow is a trust account created by a neutral third party to hold money for the seller or buyer. Wh ...

A seller disclosure is a form required by most states; the seller uses this form to disclose any kno ...

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