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Risk Management and Insurance

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Risk Management and Insurance

There are a number of elements to consider in structuring a plan for individuals and families.

Income Loss

Loss of employment or an accident can severely interrupt salary and benefits.  Disability insurance is a safeguard.  If this is not offered through your current employment, you can purchase an independent disability policy.

Death of a Spouse

Life insurance needs should be addressed, especially in the case of the primary income producer.

Health Issues

Major health concerns can greatly impact your ability to earn significant income. Again, there are policies available to cover this circumstance.

Business Risk Management

Owning your own business can be one of the most rewarding accomplishments you will experience in your lifetime. In order to effectively manage risk for business owners, it is important to ensure your business has a contingency wealth protection plan to survive and prosper should it encounter a disaster such as flood, fire or death/illness of a key employee.

Life Insurance

Life insurance is critical to ensure that each business partner is protected and will allow your business to continue should the unexpected happen to one of the partners.

Disability Insurance

Disability insurance will cover your overhead expenses and will save you and your business from suffering significant financial losses should you experience a short or medium term disability. If you experience an accident or injury that prevents you from performing your duties at work for an extended period of time how would this affect you? For many this would have your business wiped out entirely.

Partner Buy Out

Partner Buy-Out is an insurance policy designed to provide funds to facilitate a buy-sell agreement if a business owner is totally disabled. This helps to protect the insured’s capital and to prevent a drain on company resources. This is designed to protect the business against losses due to disability and death.

Key Person Insurance

Key Person Insurance is coverage designed to protect what you have spent years building – your profitability and independence. The proceeds of this policy would go to costs of hiring a replacement for the deceased employee and to compensate for lost productivity.