Financial Calendar - April

Over on Morningstar.com, Sue Stevens has an article titled "Your 2006 Financial Calendar". The first quarter is all but over (and I've done the things on that list), which means that it's time to start on the second quarters things-to-do. The focus of the second quarter is defensive actions.

For April, that includes reviewing your insurance life and disability insurance needs.

Life Insurance

Most people need life insurance when their kids are little and they have a mortgage. If this describes you, compare the dollar amount of life insurance coverage you have to the cost of putting those tykes through college and paying off your mortgage.

Personally, I have life insurance through TIAA-CREF and am happy with the cost and coverage. So I think I'm covered there.

Disability Insurance

Bad backs, auto accidents, and a whole host of other things can happen that may prevent you from working.

Here's an uh-oh for me. I don't have disability coverage through work, so I need to call around and find some coverage. A typical policy will cover 2/3 of your salary. Since I have a lot of bills to pay, I had better make sure that I have this area covered.