Good morning,

This is certainly an action-packed week! First, in election news–as of this writing (on Thursday afternoon), we don’t know the results of the election yet. And the markets are still going up. Why is that happening? Then, we’ll talk about the importance of various types of insurance and what you’ll actually need.

Several of you have reached out to ask us over the past couple of days why the markets are going up when the election results aren’t in, and as it happens, for the markets, they are. Because it wasn’t a landslide election one way or the other, we’ll continue to have government gridlock, which is what the business community is looking for.

From a stock market perspective, the status quo will remain about the same, without aggressive regulation of big business or the pharmaceutical industry. We should also remember that the stock market just fluctuates for statistically insignificant reasons sometimes, and we shouldn’t read too much into what happens over the course of one day. And there may continue to be fluctuations as our drawn-out election period continues.

In other news, open enrollment for health insurance is now underway, and that got us thinking about the types of insurance we get asked about often. Health insurance is certainly important, and we encourage anyone in your life who needs to enroll through the Affordable Care Act to do so soon.

We also want to make sure that you have umbrella liability insurance.  This kind of insurance covers personal liability claims in excess of your regular home, auto, or watercraft insurance, and covers other members of the household in addition to the policyholder. It is a low cost way to protect your assets from liability claims. For your property insurance, it’s important to make sure that you have your collections and jewelry scheduled in your policy. All homeowner’s insurance has limits on items such as cash, coins, jewelry and others items. We encourage you to update when it’s necessary and not forget this important component of your insurance.

Many of you also ask about long-term care insurance and disability insurance. We advise our you to have disability insurance as long as your are working. Disability insurance can be short- or long-term, and you can purchase coverage through your employer or personally. Either way, the insurance pays a portion of your salary if you can’t work for a period of time.

Long-term care insurance isn’t necessary for everyone–we look at it as a way to protect your spouse and heirs. It provides coverage for assisted living or long-term care. It is private insurance available to anyone who can afford to pay the premiums. It allows family members to ensure you’re cared for without depleting all of their savings. If you’re not concerned about leaving and inheritance and are single, you may still choose to purchase long-term care insurance. Its main benefit is to protect the other people in your life.

Past performance is no guarantee of future results.  Securities offered through Triad Advisors, member FINRA/SIPC. Advisory Services offered through Obsidian Personal Planning Solutions, LLC. Obsidian Personal Planning Solutions, LLC, and Obsidian Personal Planning Solutions, Inc, are not affiliated with Triad Advisors.