Insurance Planning

The one certainty in life is that all of us will experience uncertainty at some point. We know that unmitigated risk can wreak havoc on our business and our personal lives.This is why insurance exists--to mitigate the risk that could prove catastrophic to a financial plan, whether temporarily or permanently. Insurance transfers the financial risk of life’s events to an insurance company, shielding your family from the financial consequences if something bad happens.

Why Insurance Planning is Important

Even if you have had the foresight to develop a sound financial plan, there are obstacles and events that can negatively affect those plans, and as a result, impact the future of your family or business.  A sound insurance plan tries to anticipate potential negative events, and provide resources to get past them with the business and family finances still intact. Although it is sometimes viewed as a necessary evil, in some circumstances it can literally mean the difference between financial success and financial ruin.

What We Can Do for You

Our Insurance Planning services include:

  • Comprehensive Review: We will review existing plans to ensure they continue to fit your needs.  If you do not have an insurance plan, we are here to advise and guide you on which plans make the best sense for you.
  • Align with your objectives: Just like most other products, no one type of insurance is right for everyone. Time and energy should be spent on developing strategies to cope with the financial issues of a potential unfortunate event.
  • Coordinate with employer benefits:  Many employment packages offer some form of insurances like medical, disability and life insurance. While this can be an inexpensive alternative to personal coverage, most benefits terminate when you leave the company, and therefore leave the benefits behind.
  • Long-term Care: Even if you have accumulated assets that satisfy your retirement dreams, the one expense that can wipe out your assets is long-term care. The need for long-term care can arise suddenly, such as after a heart attack or stroke. Most often, however, it develops gradually, as people get older and frailer or as an illness or disability gets worse. We can help you determine your needs and connect you with a strategy that will mitigate any potential long-term care needs without decimating your retirement plans. 
  • Insuring estate and succession plans: When structured correctly, insurance can be a great estate planning tool as well, especially when it comes to shielding your beneficiaries from paying taxes or fees on their inheritance. Partners in business may also use insurance policies as a great financial tool to aid in succession planning. We will help you structure an insurance plan that makes sense for your needs.