Insurance planning is an important risk management tool for our clients. We don’t sell insurance, but we do review our client’s insurance needs and their current coverages. We help them review current insurance policies to ensure that they are properly covered, now and in the future. This might include:
- Life insurance
- Long-term care insurance
- Disability insurance
- Health insurance
- Home and auto insurance
- Umbrella policies
Insurance plays a role in our client’s financial planning at all stages of their lives. We review your insurance coverage against your needs to help ensure that your coverage is optimized to provide the protection that you need in these areas during all phases of your life.
Life insurance is important at all stages of our lives. Life insurance can provide an immediate estate to pass on to a spouse and minor children when clients are in that stage of life. Life insurance is also a key element of the estate planning process as clients age. We review our client’s life insurance needs, and we help them purchase the right type of policy to meet those needs.
Long-term care insurance
Providing for our client’s long-term care needs is a key part of retirement planning. Long-term care insurance can be a part of this planning for some clients. We help our clients plan on how to pay for long-term care expenses if needed. We also help them determine if long-term care insurance is a part of this strategy and if so we help them shop for the best policy for their needs.
Disability insurance is critical for all clients who are working, we refer to this as lifestyle insurance. It’s more likely that you will become disabled than die during your working years, disability insurance helps ensure that you will be able to generate an income in the event of a disability that prohibits you from working. Choosing the right disability insurance policy is important. Definition of disability and other factors help determine if the policy offers the right coverage for you.
Health insurance is crucial in protecting our client’s from major financial expenses in the event of a serious health condition. Many of our clients obtain their health insurance coverage through their employer. We help them determine the best policy for their needs if they have several options through their employer.
For those clients nearing retirement or in retirement, we help them look at Medicare and to choose from various coverage options. For clients who are retiring early, either by choice or through corporate downsizing, we help them choose and alternative for covering their health insurance needs during the gap period until Medicare kicks in.
Home and auto insurance
Home and auto insurance are forms of casualty insurance. In the event that your home is damaged or destroyed by fire or another form of disaster, homeowners insurance will cover some or all of the costs of repairing or rebuilding your home. This can be a financial lifesaver. The personal liability portion of most homeowners policies protects against liability claims if someone is injured on your property.
Auto insurance is another type of policy that helps protect a major asset and that can protect you from liability as well. Auto policies will repair or replace your auto in the event it is damaged in an accident or stolen. Additionally, these policies can protect you in the event you cause damage to another auto or injury to its passengers.
An umbrella policy helps cover areas of liability that other types of insurance do not. It may go beyond the liability in your homeowner policy for example. An umbrella policy also covers liability for things such as slander, libel and other types of liability not covered elsewhere. In certain instances, your umbrella policy can provide coverage against a judgement that would otherwise be financially devastating.
We feel strongly that having the proper types and levels of insurance coverage is a crucial part of the financial planning process for our clients. Insurance protects your family, your assets, your lifestyle and your health.