Insurance Planning
If there’s one thing certain about life, it’s the uncertainty that living it brings. You may think you’ve covered all the bases, yet life sometimes has a funny way of throwing you a curveball. Fortunately, in addition to planning wisely and thoroughly, you can also hedge your bets against the unintended through prudent insurance planning.
Why Insurance Planning is Important
Without proper planning — be it succession planning, estate planning, investment planning or retirement planning — you’ll likely not invest successfully, retire comfortably or leave a meaningful legacy for your beneficiaries. Without a well-thought-out insurance plan, even those facets of a careful financial plan could be exposed to unforeseen risks.
What We Can Do for You
They say that some things are better to have BEFORE the need is felt — even if they are never used. Insurance is one of those things. Rather than seeing insurance as an “expense,” most people experience it as peace of mind. That’s the essence of our insurance planning service.
We’ll review any existing plans to ensure they continue to fit your needs. Or we can advise you on which plans are appropriate for you, your family and your business.
Our service will help you consider:
- Home, car and other asset insurance**: It is our belief that you shouldn’t over-insure, but you should never un-insure or under-insure either. The type (and value) of your home, car and other assets will determine what insurance, and how much of it, you should buy.
- Death-event security: If you have people who depend upon you being around for many years to come — such as a spouse/partner, minor children or aged parents — we’ll advise on what life insurance policies addresses your needs.
- Retirement income through annuities: Sometimes, the best way to guarantee retirement income is the simplest: annuities. Of course, these products vary in terms and in pay-out options and conditions. Our professionals will help make sense of it all.
- Disability and long-term care protection: Accidents at home, at work or during your commute can leave you severely disabled and financially stressed. This is also true of a debilitating illness. We’ll help you insure against such unexpected turns of events.
- Travel insurance**: Sometimes, even the safest of travel plans can turn into a nightmare. Whether you experience illness or an accident overseas, a missed flight, lost baggage or natural disasters — if you are insured, you’ll be less stressed while dealing with the consequences.
- Health, dental and wellness insurance**: With family and personal medical care becoming more expensive, it may be prudent to cover yourself and your family through appropriate health insurance plans.
- A shield for estate and succession plans: When structured correctly, insurance can be a great estate planning tool, especially when it comes to shielding your beneficiaries from paying taxes or fees on their inheritance. Partners in business may also use insurance policies as a financial tool to aid in succession planning. We’ll help you structure an insurance plan that makes sense for your needs.
*The cost and availability of life insurance depend on factors such as age, health, and the type and amount of insurance purchased. Before implementing a strategy involving life insurance, it would be prudent to make sure that you are insurable by having the policy approved. As with most financial decisions, there are expenses associated with the purchase of life insurance. Policies commonly have mortality and expense charges. In addition, if a policy is surrendered prematurely, there may be surrender charges and income tax implications.
**Financial Framing and LPL Financial do not offer home, auto, travel, health, dental or wellness insurance products.
