It’s a fact that increase in wealth brings increased exposure to potential liabilities. This is the reason why we place high priority on designing as well as implementing comprehensive risk-management strategies that can protect client’s wealth, reduce their exposure as well as give them peace of mind. Our risk management & insurance services also helps them to assess their existing life, disability, personal liability as well as major asset insurance strategies, thereby formulating a plan that can include:
Evaluation of any risk-management program & insurance coverage clients currently have in force
A comprehensive report outlining our findings & recommendations
Personal insurance planning for client’s real estate, automobiles and aviation exposures
Medical coverage for client’s family and employees
A review of existing life insurance coverage & evaluation of customer’s life insurance needs, without concern of being driven towards proprietary products
The need for insurance planning –
“Insurance is not for person who passes away, but it for those who survive,” goes a popular saying explaining importance of insurance planning. It is extremely important that every person, especially breadwinner, covers risks to his life, so that his family’s quality of life does not undergo drastic change in case of unfortunate eventualities.
Insurance planning is concerned with ensuring adequate coverage against insurable risks. Here, calculating right level of risk cover is specialized activity that requires considerable expertise. Proper insurance planning can also help clients to look at possibility of getting wider coverage for same amount of premium or same level of coverage for reduced premium. Hence, is need for proper insurance planning.
Insurance, simply put, is cover for risks that we run during our lives. Insurance enables us to live our lives to fullest, without worrying about financial impact of events that could hamper it. In other words, insurance protects us from contingencies that could affect us.
Risks that we run:
To name a few, the risk on our lives is:
The worries of replacement of incomes that we contribute to running of the household
Risks of medical contingencies (since they have capability of depleting our wealth considerably)
Risks to assets (since replacement of these can have tremendous financial implications)
Insurance planning also takes into account risks that surround you and then provides adequate coverage against those risks. There is no risk not worth insuring yourself against and insurance should first as well as the foremost thing to be looked as a measure to guard against risks - the risk of your dreams going awry due to events that are beyond your control.
We are Independent Financial planners, who are responsible for designing a financial plan that will take the client from where he is now to where he wants to be in the future, i.e. a plan that satisfies his needs and objectives.
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