In this episode of the Sandwich Bread Podcast, Tom Kaminski sits down with Dan Sullivan, Managing Director at First Element Insurance Planners, to break down the insurance essentials every young family should understand. Dan brings a background in insurance litigation and law to the conversation, offering a "manager of risk" mindset rather than a "consumer of insurance" one.

Tom and Dan cover:

• How to calculate the right amount of term life insurance, and why "10x salary" rules of thumb fall short
• Common life insurance pitfalls: paralysis by analysis, choosing the wrong product type, and laddering strategies to manage premiums
• Why long-term disability insurance is statistically more likely to be used than life insurance. An individual entering the workforce today has roughly a 25% chance of becoming disabled before retirement¹, and about one in eight workers will be disabled for five years or more during their career²
• How to evaluate employer group coverage versus supplemental disability policies
• The critical difference between "own occupation" and "any occupation" disability definitions
• Property and liability essentials: home replacement cost reviews, auto coverage check ins, especially with teen drivers, and why umbrella coverage is an underrated, low cost safety net

Whether you're starting a family or already raising one, this episode is a practical primer for thinking through your insurance needs at every stage.

¹ U.S. Social Security Administration Fact Sheet, February 7, 2013.
² Council for Disability Awareness, Commissioner's Disability Insurance Tables A and C.

Disclosure: Tom is a fee-only financial planner. He is not licensed to sell insurance and receives no referral fees, commissions, or compensation of any kind from Dan Sullivan or First Element Insurance Planners.

This episode is for informational purposes only and is not tax, legal, or investment advice. Please consult qualified professionals before making any financial decisions.