Risk Management

When it comes to risk, you really only have 4 options: Avoid, Accept, Reduce, or Transfer.

We will define various risk that you may face, illustrate the impact to your financial plan, and help you make an informed decision on how to address those risk.

One of the most negatively impactful occurences to a persons fiancial future is unmitigated risk, that is why we offer comprehensive need analysis and review of current insurance coverage. 

Comprehensive evaluation of life Insurance includes: 

How much life insurance is needed?

How cost effectiveness of current policies?

What type of policy should be used?

Who will be the owner of the policy?

How should the premiums be paid? 

Uses for life insurance: 

Create an Estate

Replace wage earner income

Pay death taxes & other settlement costs

College for children

Pay of home mortgage and other liabilities

Fund a business transfer

Protect a business from the loss of a key employee

Equalize inheritances

Replace a charitable gift

Pension maximization 

Disability insurance needs analysis: 

How much disability insurance is needed?

How cost effectiveness of current policies?

What type of policy should be used?

How should the premiums be paid?

Individual policy vs. Group policy?

Alternatives to traditional policies

Definition of disability?

Partial or residual benefits

Cost of living adjustment?

Cancelability & renewability of policy?

Waiting and elimination period?

Benefit period?

Need for business overhead expense?

Key person disability?

Appropriate disability/life buyouts for business buy/sell agreements?

Long Term Care insurance needs analysis: 

Do I need it in the first place or can I self insure?

What do I want it to cover, at home care, assisted living, skilled care?

How much do I want it to cover?

Elimination Period?

Hybrid policy or traditional Long Term Care?