Strategic financial planning unlocks hidden savings.
Rachel and Ben, focused on agency growth, hadn't reviewed their E&O insurance in detail. Their premium seemed high, especially given their excellent risk management practices. They lacked a clear understanding of how various policy options and deductible adjustments impacted their overall financial position, particularly considering their non-traditional investment portfolio and student loan debt.
Using the Loan Interest Calculator, we analyzed the impact of adjusting their E&O deductible against potential savings on their $10,000 outstanding student loan debt. By increasing their deductible and strategically utilizing the savings to accelerate student loan repayment through the Student Loan Calculator, they reduced overall interest paid and freed up cash flow. They lowered their annual premium by $8,000 and are on track to eliminate their student loan two years early.
The Loan Interest Calculator was used to model the cash flow impact of different E&O deductible options, which were then compared to accelerated student loan repayment strategies calculated with the Student Loan Calculator.
$8,000 annual savings on E&O insurance; $2,500 reduction in total student loan interest paid.
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