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New Year’s resolutions
It is 2017 and it is time to make and to keep your resolutions. For most of us, that is a tall order. Even if you have not made any reso- lutions, now, more than ever, it is time to plan.
factoring in your lifestyle plans is critical.
Review your life insurance. During your career, add-
ed insurance is important protection for your family. Do not rely solely on what the city provides you for life insurance. Your benefits plan offers the most com- petitive rates for supplemental life insurance. However, life insurance may very well be unnec- essary later in life. You can better use the current
When the challenges come dai- ly from the legislature, city hall, the streets and the court of public opin- ion, now isn’t the time to leave things
to chance. Consider where you might be vulnera- ble and take action today.
No matter where you are in your career as a police of- ficer, it is important to practice financial planning, and connecting with a certified financial planner can make all the difference. The earlier you save, the more your investment will compound and the more financially se- cure your retirement will be. If you are retired, it is very important to review your current investments. How you invested during your career is rarely how you should hold investments during your retirement. And project- ing your savings and expenses over your lifetime and
TOM TUOHY
FOP
Benefits Plan
premium cost in your retirement.
If you are middle aged, consider long-term care
insurance. There is a new hybrid long-term care poli- cy that converts to life insurance if you do not access the benefits during your lifetime.
Your benefits plan auto and home insurance rates are saving members an average of $466 per year for com- parable A-rated companies. Don’t overpay for an insur- ance company simply because you have been with the company for years. That is probably why your premiums are high, so you should question that loyalty.
Estate planning is not a retirement decision. It is im- portant for everyone, no matter your age or circum- stance. Life is way too uncertain to take the risk of not having your estate in order. It is especially important if you have young children. A living trust is the best estate plan. Your benefits plan offers you a 50-percent rate re- duction, through my law office, for a living trust estate plan that includes healthcare and financial power of at- torney documents.
With the uncertainty and high cost of healthcare, con- sider the peace of mind of 24/7 access to physician or wellness coaching. For any diagnosis or condition, $11 per month covers your entire family exclusively through your benefits plan.
You read and hear about it daily – identity theft is a real and complex threat. Register for complete identity protection and a $5 million defense protection for only $8.95 per month. You also can get password protection for only $1 per month.
It doesn’t take much effort or expense to secure your financial and health well-being. However, it is not going to happen on its own. Take a minute and make it your firm resolution that you will review your personal and family situation and take action today.
Registration for FOP members and family is free. Visit www.fopbenefitsplan.com or call 1-866-729-5454 for as- sistance with registering. d
Tom Tuohy is the founder of Tuohy Law Offices and the FOP Benefits Plan. He has been a police lawyer for 34 years. His father was a CPD detective and his grandfather was CPD Chief of Major Crimes. Tom can be reached at 312-559-8400.
22 CHICAGO LODGE 7 ■ JANUARY 2017