Insurance protection always involves a decision as to whether your personal assets will cover the potential burden of inherent risks to your financial security, or should you transfer this risk to someone else for a reasonable cost? In other words, does a cost to transfer the risk from yourself to someone else today make sense to better protect your financial plan in the future. With any insurance decision, there is always the issue of your personal “need” or your personal “desire”to transfer the risk to an outside source. For example, your savings may be adequately substantial to replace your home should something like a natural catastrophe destroy it (ie.- fire, tornado), but you may still desire to transfer the risk anyway because the cost/benefit of doing so seems like good business sense. Unfortunately, often times insurance-related decisions are based more on emotion rather than on financial truth. As financial planners, we are committed to making sure we provide you the financial truth necessary to help you determine if an insurance “need” is present, and if one is our next goal is to make sure you understand what the size of the need is. We believe way too many people purchase more insurance than what they really need.
In whatever different areas of insurance coverage you may have need, if you seek our help to provide appropriate protection it’s important for you to know we are independently licensed, meaning we are not held to captive company solutions. Our independence allows us to act as our own broker in order to seek the most cost-effective solution to protect your need. Listed below are the areas of financial insurance need that we can provide solutions for:
- Personal Property – home (owners or rental), auto, boat, etc.
- Business Owner and/or Employee Protection - key man, ownership buy-sell agreements, etc.
- Medicare Supplemental and Part D Prescription Drug
- Long-Term Care