Robert McCullock
ABOUT Robert

Robert McCullock graduated from San Jose State University in 1997 with a Degree in Business Administration and a concentration in Finance. He started directly in the financial services industry and has worked over 15 years for a couple major brokerage companies in area of investment consultations. Robert also spent years as a local Branch Manager [...]

Robert McCullock, CFP® describes the different types of insurance you need to protect your family. These types of insurance include: disability (short term & long term), life, health, long term care, auto, home owner’s and umbrella or liability insurance.


“Hello, I’m Robert McCullock, Certified Financial Planner™ with Pure Financial Advisors, and this is your Question of the Week. this week’s question was: What types of insurance do I need to protect my family?

Looking at insurance, let’s first talk about disability insurance. If you are still working, you are more likely to become disabled for a period of time than to die. Having adequate disability insurance is important. You can look at two different types. There’s short term disability insurance, at that is usually about a week out to about six months. Long term disability goes beyond that.

After disability, you want to think about life insurance. If you have people depending on your income, whether it’s family members or anybody else that is depending on your income, you need life insurance.

Beyond life insurance, you’re looking at health insurance. Health insurance is something we all HAVE to have nowadays, but if you’re going to retire early or you’re looking at retiring early, make sure you price out the price of health insurance before Medicare and then the price of insurance after Medicare. There’s a big difference.

Beyond health insurance what you’re going to want to look at is potentially long term care insurance. Long term care insurance is NOT life insurance. Long term care insurance provides for activities of daily living. This is being able to feed yourself, getting dressed, getting out of bed, these kinds of activities. Your health insurance will not cover it so it’s an additional insurance need.

Beyond that, you’re looking at your normal auto insurance, home owner’s insurance and then finally, umbrella insurance. That’s your liability insurance. Umbrella or liability insurance covers you if you are found negligent in any way. It pay for the lawyers and any legal fees at that point.

I’m Robert McCullock, Certified Financial Planner™ with Pure Financial Advisors, and that was your Question of the Week.”