Insurance
Is your family and/or company properly protected in the event of a death, disability, long-term illness or injury, or incapacity? The proper type and amount of insurance help to manage the potential risks of catastrophic life events.
We help our clients to uncover potential risks to their family and their business that can be effectively protected by evaluating their potential risk exposures. In addition, we assist the business owner in increasing the value of their company to a potential buyer by making sure that their insurance portfolio is up to date and can adequately protect the company in the event of a catastrophe during the execution of the business owner’s exit.
What steps have you taken to protect yourself, your business, and your family in the event of a catastrophic event, such as death, disability, incapacity or a long-term care scenario?
Life Insurance
How much insurance should be acquired, and what kind? For Life Insurance, it depends on a number of factors. Life Insurance can be used to replace the lost income from the death of a significant other; to protect a business from the death of a business owner or Key Employee; to fund a Buy-Sell Agreement of a business; to help pay estate taxes; to provide supplemental retirement income; and also as an economic tool to attract, retain and motivate Key Employees.
Disability Insurance
What is the biggest asset in your estate? Most people don’t realize it, but it’s usually their future income earning potential. Disability Insurance is used to protect this major asset, and is also referred to as “income replacement insurance.” This type of income replacement is often overlooked, and yet it serves as the foundation for one’s financial planning.