We believe that our client’s financial security is not complete without a comprehensive risk management review. We believe most people spend their energy focused on building wealth while overlooking the impact of an unexpected death, disability, or long-term care concern. Our approach to solving these potential disastrous events is mitigated through the use of life, disability, and long-term care insurance.
Through our review process we access our client’s potential exposure and work to minimize the family’s impact if something were to unexpectedly happen. Getting the right life or disability insurance coverage is a required part of building financial security for anyone who provides support or cares for another individual. Life, disability, and long-term care insurance can be overwhelming tools for someone not experienced with their variations. We spend a considerable amount of time educating our clients on the options they have to protect themselves against a premature death as well as a disability.
Common Risk Management Questions
When should I consider a life or disability policy?
You should consider a life or disability policy when someone else is depending on your income. For most people this is when they are married, purchase a home, or have their first child.
Is a term or permanent life insurance policy right for me?
The premium rates for permanent life insurance are significantly higher than term life insurance so many people only consider term insurance. Term insurance was created to last only for a finite period (10, 20, 30 years) while permanent policies are designed to exist until you pass. We spend a lot of time educating our clients on the differences between these options so they can make the right decision for their family.
If my employer provides life insurance why do I need more?
In our experience, we have seen that employees do not review their life and disability insurance benefits provided by their employer until it’s too late. Life insurance is usually offered as a multiple of the employee’s earnings and most employers offer one times the employee’s annual earnings as a life insurance benefit. We believe that for most people this will not be enough to support their family in a premature death.