Risk Management & Insurance
Insurance is a necessary evil. People don’t like to think about what would happen if they weren’t around, were unable to work, or if they needed long-term care. Unfortunately, these things do happen, and it is up to us to see that our clients are prepared as best as possible from a financial perspective. The thought of insurance brings to mind the negative perception of insurance agents in general. While there are many valid reasons for this image, we can assure you that our goal is not simply for you to buy more insurance. We do not sell insurance, nor do we receive commissions. We are simply here to give you objective advice about the types of coverage you may need to protect yourself and your family.
Not everyone needs all types of insurance, and we do not take a “cookie cutter” approach. No two clients have the same insurance needs, and we make insurance recommendations according the individual situation.
Potential Areas of Risk
- Premature death
- Convalescent or “Nursing Home” costs
- Property losses or liability
It’s important to consider risk management in the context of your overall financial plan. Rarely does anyone have the resources to meet each and every need and want, so we often have to prioritize dollars spent on insurance versus other goals, such as saving for retirement. Therefore, it is vital that we identifying the risks that are 1) most probable to occur and 2) have the most detrimental effect to you financially. Then we can help you decide which risks to accept and which to mitigate through insurance or other means, always with an eye towards the lowest cost possible. Additionally, some areas of insurance planning are so specialized, that the services of outside experts are needed. In these cases, we work closely with them on your behalf, even sometimes retaining their services as a firm, if needed. We never receive kick-backs, commissions, referral fees, solicitors fees, or any remuneration from them whatsoever, and always act 100% in the interest of our clients.
“Whenever you find yourself on the side of the majority, it is time to pause and reflect.”
– Mark Twain