Personal
Insurance is an important component of your financial plan. Oftentimes the importance of insurance is undervalued. A financial catastrophe such as premature death, disability, a long-term illness or the loss of your home or car could diminish or wipe out the assets you’ve worked hard to accumulate.
It is important to first assess your insurance needs. Protect those who matter the most to you from financial heartache with a sound insurance program. This program can include health insurance, life insurance, long-term care insurance and disability insurance.
Some insurance policies can help with extended long-term care such as nursing home care, rehabilitation and therapy.
Do chronic illnesses run in your family? Are you faced with the fear of your parents needing assisted living? Does your current life insurance policy protect your family from these added expenses? A financial planner can help you select the appropriate type and amount of insurance to meet your needs.
It is also important to consider how you own the life insurance and how the beneficiaries are structured.
Business
A small business owner should consider life insurance for buy-sell agreements, deferred compensation, key employees. Disability insurance (including partial disability and business overhead coverage) is also a very important need that is often overlooked.
Group health insurance is an important benefit to assess for both the business owner and their employees. Employers and employees can share costs, and there are special tax incentives to businesses that provide group health insurance.
Tax issues involving business insurance are complicated, so you need qualified comprehensive advice to be sure coverage fits your business and personal estate needs.
We have a team of consultants to help with your employee benefits and business planning needs.