Amanda Kish

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243 appearances 2 recordings 1 series first heard May 2026 last heard 1 Aug

Amanda Kish’s voice in public audio — every appearance, attributed to the second.

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Recordings per month over the last 12 months — 2 in all, peaking in Aug 2026 with 1.

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Motley Fool Hidden Gems Investing · Insurance-palooza! All You Need to Know to Protect Your Income and Wealth · 1 Aug 2026 podcast

So umbrella insurance is kind of an interesting kind of insurance to talk about because it's cheap.

And cheap insurance that actually matters is rare.

So you can think of it as the extra layer of liability protection that kicks in once your auto or homeowner's liability limits gets maxed out.

Let's say someone sues you after a car accident and the judgment against you is $800,000, but your auto policy only covers $300,000.

Then your umbrella policy steps in to pick up the rest instead of your house or your brokerage account being on the hook for the remainder.

Now, a $1 million umbrella policy typically costs somewhere in the neighborhood of anywhere from $150 to $300 a year, which all told is incredibly cheap for the protection that it buys.

And the general guideline is your umbrella coverage should be roughly equal to your net worth or at least cover the assets you'd hate to lose in a lawsuit.

And keep in mind that if things apply to you in your situation, say you've got a pool, a trampoline, a dog with a little bit of an attitude, a teenager who just got their driver's license, your lawsuit risk may be higher than average.

So keep in mind that umbrella coverage is one of the easiest and cheapest ways to help you protect all those hard-earned assets.

Yeah, long-term care is the retirement risk that many folks tend to underestimate.

So it's not a guarantee that you'll need it, but that tail risk that you're going to fall into that small group of people who require very intensive, extended, or expensive care is still severe enough that it deserves some real consideration.

So that kind of traditional standalone long-term care insurance has fallen a little bit out of favor over the years because premiums have really had a track record of rising sharply after people bought policies, in some cases doubling, which has understandably left a lot of folks a little gun-shy about signing up.

So one thing that has kind of emerged in that absence is

this hybrid life insurance long-term care policies, and those have really grown in popularity in recent years.

So with that, you get a death benefit if you never need that care, and also a pool of money that you can tap for care if you do need it, with premiums that tend to be a little bit more predictable.

These hybrid policies are not cheap, but for folks who hate the idea of wasting a premium on care they may never need,

That hybrid model does solve that psychological hurdle a little bit.

And then the other option, which you mentioned earlier, is self-insuring.

So building enough of a cushion in your portfolio that you could cover a few years of care out of pocket if needed.

And this option tends to make the most sense for people at the higher end of the net worth spectrum where the assets are there to absorb the cost.

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