The key factor in determining the appropriateness of insurance is the maximum potential loss that one might face. It is important to not risk more than you can afford to lose. Some losses, such as disability or death of the primary income provider of a family, can be financially devastating. Without proper planning, long-term medical care can wipe out a lifetime’s worth of asset accumulation.
At Financial Plans & Strategies, we consider insurance a valuable financial planning tool; insurance transfers devastating financial risks to an insurance company. Below is a list of the insurance products we would typically consider when preparing a comprehensive financial plan.
At Financial Plans & Strategies, we can help identify risks in your financial plan that can be addressed in a cost-effective manner with insurance protection. Contact us today to learn more.