Have You Reviewed Your Insurance Policies Lately?

For high-net-worth individuals, having insurance is not only a matter of protecting assets but also ensuring peace of mind.

Without insurance, you’re one accident or lawsuit away from draining your savings and jeopardizing your financial security. So, it is critical to have a comprehensive insurance plan that covers all potential risks.

Let’s do a quick review of some of the different types of insurance:

Life insurance is designed to provide financial support to your loved ones in the event of your death.

Disability insurance replaces lost income if you become disabled and unable to work.

Umbrella insurance offers additional liability coverage beyond traditional policies, protecting you from financial ruin in the event of a catastrophic lawsuit.

Long-term care insurance helps cover the cost of long-term care services, such as home health care or nursing home care, which can be extremely expensive.

If it’s been a while since you’ve had your policies reviewed, it may be time to revisit them. By having the proper insurance coverage in place, high-net-worth individuals can better protect their assets and maintain financial stability.

If any of these areas concern you, please don’t hesitate to reach out to us to see how we can help.  Click here to schedule a call with one of our advisors.

If you are approaching retirement, I encourage you to download our free retirement toolkit, which includes my book and several useful guides that cover the most important financial considerations for retirement.

This content is provided for informational purposes only. It is not a guarantee of future success, is subject to change, and is not intended to serve as the basis for an individual’s financial decisions. All investments are subject to risk including the potential loss of principal. No investment strategy can guarantee a profit or protect against loss in periods of declining values. Strategy Financial Group does not provide specific legal or tax advice. Please consult with a qualified professional for guidance on your individual situation. Investment advice is offered through Strategy Financial Services, LLC, a registered investment adviser. Insurance and annuity products are offered separately through Strategy Financial Insurance, LLC.