DesignStep 5~3 min read

Insurance & Benefits Inventory

Map what you already have

Before you buy a dollar of protection, find out what you already have — so Phase 1 fixes real gaps instead of paying twice.

Your goal A complete coverage map with gaps flagged, within 5 days.

What & why

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

Phase 1 is about protection. This inventory tells you exactly where your real gaps are — and it quietly sets up three later steps:

Feeds Step 8

Highest deductible

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

Feeds Step 9

Match formula

Your employer's exact 401(k) match (e.g. 100% up to 3%).

Feeds Phase 2

HDHP? yes / no

A high-deductible health plan unlocks the HSA.

Recommended setup

Six areas, two facts each

One simple table: area · limit · deductible · gap

For each, write down the limit (what it pays) and the deductible (what you pay first).

Health

Plan + deductible

And whether it's an HDHP

Auto

Liability limits

Check they're adequate

Home / renters

Coverage + deductible

Usually have

Life

Term amount

Common gap

Disability

Employer LTD %

Often thin or missing

Umbrella

Extra liability

Often none

Do it

Start at the benefits portal

Log into your employer benefits portal.

Record your health plan and 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.

Note your highest deductible and HDHP status.

Circle the biggest deductible and confirm whether your health plan is an HDHP.

List the gaps.

No disability? No life insurance despite dependents? No umbrella? Write them down.

Confirm autopay on every policy.

A missed premium can silently cancel coverage. Set a yearly reminder to repeat this inventory.

You're done when

Your coverage is mapped

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

You've noted your highest deductible, your HDHP status, and your exact 401(k) match formula.

Autopay is confirmed on every policy, with a yearly reminder to repeat this.

Questions

Common questions & mistakes

Isn't my employer coverage enough on its own?

Often not, especially for disability and life. Group coverage tends to cap low and vanish when you change jobs. You're just recording what exists here.

Why do I need my deductible now?

It sizes your first savings goal — the $2,500 safety net in Step 8.

What's an HDHP and why does it matter?

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.

Do I really need umbrella coverage?

Many people don't have it, and it's a cheap extra layer above your auto and home limits. Just flag it; decide later.

What are the common mistakes?

Not knowing your match formula, assuming you have disability coverage without checking, and skipping your deductible.

Blueprint Wealth Education is for educational and entertainment purposes only and is not financial, tax, or legal advice. See our full Disclaimer for details.