Risk Management
"There are risks and costs to a program and action. But they are far less than the long-range risks and costs of comfortable inaction" - JFK
Managing risk is a crucial part of every financial plan. There are many types of risk addressed in a well-drafted plan – risk caused by stock market declines, economic instability, death, disability, loss of income and damage to assets like a car or house. These unforeseen events can have devastating financial implications to finances and alter the anticipated outcome of a financial plan. While risk is impossible to avoid, it can be managed appropriately.
The most common way to manage risk is through insurance, which essentially transfers a portion of the risk from you to an insurance company. Insurance should be used to transfer risk with a low likelihood but high financial consequence. In a well drafted plan, all forms of insurance should be considered, reviewed and implemented where appropriate.
Insurance coverage that we offer includes:
- Health Insurance (group plans for employers)
- Disability Insurance
- Life Insurance
- Long-Term Care Insurance