Risk Management

    With risk management, every person or corporation only has two options:  1)  Accept the risk, or 2) transfer the risk to a third party.

    With option #2, insurance is used as the vehicle to transfer risk if you are not willing, or unable, to take the risk yourself.  Insurance is a complicated area and the right guidance is important.  By assisting you through the maze of options, we offer comprehensive individual services for life insurance, disability income, long-term care as well as group life insurance, medical, disability insurance, and group long-term care.  We work with several actuaries and insurance brokers to get you a competitive product at the right price and level of coverage.   Rather than selling insurance, we act as your consumer advocate to buy the right policies to effectively transfer risk.

    When most people think of life insurance, the first question that usually comes to mind is, “How much do I need?”  The death benefit of the policy is only part of the picture.  There are waivers and riders and eligibility and waiting periods and on and on.  As part of our planning process, we calculate amounts that are unique to you and your needs.

    Need a life insurance policy?  Let us educate you about term life insurance, as well as your cash value life insurance options: whole life, variable, or universal life.  (We told you it was complicated.)  There are special types of life insurance to address special needs.

    Here are some simple questions and answers on this subject that are sure to get you thinking.

    Are you purchasing a home?  Life insurance proceeds can pay off the mortgage.

    Do you have consumer debt?  Life insurance proceeds can pay the debt in full.

    Are you a couple earning two incomes?  Life insurance proceeds can replace the income of one partner.

    Do you own a family business?  Life insurance proceeds can be used to purchase the business from the heirs of the family.

    Do you have children?  Life insurance proceeds can be used to pay for college education expenses, child-care expenses, etc.

    Will estate taxes be due on the life insurance at your death?  Life insurance can be held outside of your estate, such as in an irrevocable life insurance trust or cross-owned; and the proceeds can be used to purchase the assets from the estate or be used to pay the estate tax.

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