DesignStep 0.5~5 min read

Insurance & Benefits Inventory

Map your coverage

Before you buy a dollar of protection, find out what you already have, Freedom Builder. This step maps every policy and benefit and flags the holes — so Phase 1 fixes real gaps instead of paying twice.

Your goal (WIG) Go from unclear to a complete coverage map with gaps flagged, within 5 days.

Why this comes first

You can't fix gaps you can't see.

Phase 1 is all about protection — disability, life, an emergency fund. But before you buy anything, you need to know what's already in place. This inventory tells the router exactly where your real gaps are, so you start Phase 1 in the right spot.

This step quietly sets up three later moves

Your highest deductible sizes your safety net (Step 3). Your employer match is the free money you'll grab in Step 4. And whether you're on an HDHP decides if the HSA — the best account in the whole plan — is open to you in Phase 2. One inventory, three head starts.

What to understand

Six areas to map

Coverage falls into six buckets. Your job here isn't to buy — it's to write down what you have in each, and mark the ones that are missing or thin. (The examples below are just illustrations; you'll fill in your own.)

Health

Your plan, deductible, and whether it's an HDHP.

usually have

Auto

Liability limits and deductible. Check the limits are adequate.

usually have

Home / Renters

Dwelling or contents coverage and deductible.

usually have

Life

If others depend on you — term coverage and amount.

common gap

Disability

Employer LTD and its replacement %. Often thin or missing.

common gap

Liability / Umbrella

Extra coverage above your auto/home limits.

often none

For each, the two facts to capture are the limit (how much it pays) and the deductible (what you pay before it kicks in). The biggest deductible you find becomes the target for your safety net next.

The numbers that matter

Four facts to pin down

For each policy

Limit & deductible

What it pays, and what you pay first. Record both for all six areas.

Feeds Step 3

Highest deductible

Your single largest deductible. Your $2,500 safety net is sized to cover it plus a buffer.

Feeds Step 4

Match formula

Your employer's exact 401(k) match (e.g. 100% up to 3%). This is free money you'll capture soon.

Feeds Phase 2

HDHP? yes / no

An HDHP unlocks the HSA — the only triple-tax-advantaged account. Confirm your status.

Run it · do this now

Your goal, your moves, your scoreboard

Pick a lead measure and start. The step-by-step walkthrough follows below if you need it.

WIG · locked

Unclear → a complete coverage map with gaps flagged, within 5 days.

Lead measures · pick 1–2

★ Log into the benefits portal (start here)
Pull one dec page a day
Note your highest deductible
Confirm HDHP status
List the gaps

Scoreboard · locked

A 6-box coverage checklist with gaps marked red.

Tools & resources

Your employer benefits portal and the declarations page of each outside policy. One simple table — area, limit, deductible, gap — is all you need.

How to do it, step by step

Start at the benefits portal

Here's exactly how to work each move from the lead measures above — skip to whichever one you're on.

The recommended approach

One login does most of the work.

Open your employer benefits portal first — it holds your health plan, disability, life, and 401(k) match in one place. Screenshot your elections, then pull the declarations page on each outside policy (auto, home/renters) to fill in the rest.

Log into your benefits portal.

Record your health plan + deductible, any employer disability and life coverage, and the exact 401(k) match formula.

Pull each outside policy's declarations page.

Auto and home/renters. Note the limits and deductible on each — one per day if that's easier.

Note your highest deductible and HDHP status.

Circle the biggest deductible (you'll need it for Step 3) and confirm whether your health plan is an HDHP.

List the gaps.

No disability? No life despite dependents? No umbrella? Write the gaps down — they point straight to your Phase 1 steps.

Confirm autopay is on for every existing policy.

A missed premium can silently lapse a policy — canceling coverage exactly when you need it. Log into each carrier and verify autopay is active. Then set a calendar reminder to repeat this inventory annually. Automate the review so it never gets pushed off.

You're done with Step 0.5 when

The finish line

All six coverage areas are documented with their limits and deductibles, and the gaps are flagged.

You've noted your highest deductible and confirmed whether you're on an HDHP.

You've recorded your employer's exact 401(k) match formula.

Autopay is confirmed active on every existing policy — and a recurring annual calendar reminder is set to repeat this inventory.

Questions, myths & mistakes

The hesitations — answered

Isn't my employer coverage enough on its own?

Often not — especially for disability and life. Group coverage tends to cap low, exclude bonus income, and vanish when you change jobs. You're not deciding that here; you're just recording what exists so Steps 1 and 2 can fill the gaps.

Why do I need my deductible during onboarding?

Because it sizes your very first savings goal. The $2,500 safety net in Step 3 is built to cover your largest deductible plus a cushion — so a surprise becomes an annoyance, not a debt.

What's an HDHP and why does it matter so much?

A High-Deductible Health Plan is the gatekeeper for the HSA — the only account that's tax-free going in, growing, and coming out for medical costs. If you're on one, you've got access to the best wealth-building account in the plan. Worth confirming now.

Do I really need umbrella / liability coverage?

Many people don't have it and it's a quiet gap. It adds a cheap extra layer above your auto and home limits. Just flag whether you have it; you can decide on it later.

Avoid these

Not knowing your match formula — that's literally free money waiting in Step 4.
Assuming you have disability coverage when you've never actually checked.
Skipping your deductible, then guessing at your safety-net target later.
Overlooking the liability/umbrella gap because nothing's gone wrong yet.