One of the reasons we created Hutchinson Family Offices was to provide comprehensive financial planning to our clients. A sound investment portfolio means nothing if your plan doesn’t include protection against risks.
Risk management through insurance is a critical part of a comprehensive financial plan. Without adequate insurance coverage, your wealth is not protected. With the appropriate insurance tools, you can ensure that your assets are protected and your family has a secure future, even if the unexpected happens.
Minimizing taxes on generational transfer of assets is critical to protect a family’s wealth. One tool that can help reduce taxes is Private Placement Life Insurance (PPLI). The Hutchinson Family Offices team use PPLI to help maximize savings, help minimize the death benefit, and help reduce overall taxes. Our team works with the leading PPLI agencies to assist in offering our clients the best available planning tools, ongoing policy investment management, and innovative policy design.
About one in four workers in their twenties will likely become disabled at some point in their careers. An accident, injury, or illness that keeps you from working can wreak havoc on your financial plans and set you back months or years. Especially for high income earners, it’s crucial to purchase long-term disability insurance to protect against an unexpected loss of income.
If you are approaching age 65, it may actually be a gamble to go without long-term care insurance. According to the U.S. Department of Health and Human Services, 70% of Americans age 65 or older can expect to need some form of long-term care within their lifetime. Additionally, 20% of 65-year-olds will need long-term care for more than five years.
Long-term care insurance covers the cost of services that include a variety of tasks you may need help with as you age. Today’s long-term care policies offer more flexibility and benefits than ever before. It is important to understand the long-term care insurance options available to you and whether or not a policy is appropriate for your lifestyle and needs.
Have you reviewed your insurance coverage within the last twelve months? If not, you may benefit from a comprehensive review to protect your family and your financial future. To learn more, contact our offices today.