Risk Management

 

Personal risk management is an important component of any comprehensive financial plan. Although there are a number of ways to control risk, for most people it will involve purchasing insurance. Those who sell it give most advice about insurance. This is not surprising since insurance salespeople understand the products they sell, but it may not be in your best interest to take advice only from someone who is also naturally motivated by a desire to earn a commission.

The size of the potential commissions, in our experience, especially for life insurance, is often big enough to cloud objectivity. And transparency with respect to commissions is, to say the least, lacking.

To avoid these concerns, we take a different approach. We are knowledgeable enough about insurance products to help you identify and secure appropriate coverage, but we do not sell insurance to you nor accept commissions.

Our approach is 100 percent objective. As a standard part of the financial planning we do for everyone, we consider what events could jeopardize your family’s wealth. If you have a spouse and/or dependents relying on your earning ability, we assess the need for life insurance. Similarly, we make sure you understand the need for disability insurance or a long-term care policy. We also look at your liability exposure and suggest appropriate auto, home, professional, and umbrella insurance coverage. The goal of the process is to make sure you have adequate insurance, neither too much nor too little, to protect you against loss from the usual and unusual risks you may be exposed to.