Risk Management Risk Management is an important part of any wealth planning process. Our team of Insurance Specialists identifies risks which could tremendously impair your financial situation. While it’s important to focus on what may go right with your situation, it’s also crucial to consider how you may be negatively impacted without protections in place. Cost effectively transferring risk to the deeper pockets of an insurance company may be prudent to minimize the financial damage of a catastrophic, unanticipated event.Some of the ways we utilize insurance in the wealth planning process include:Life Insurance: commonly used for income replacement, business succession funding and estate planning, as the payouts are generally tax-free if structured properly. There are many different types of life insurance available today and our team of professionals will help you chose the right policy or combination to protect what matters most to you.Disability Insurance: Protects your income in the event of your inability to work due to a disability which may occur in your working years. Your ability to earn income is one of your biggest assets for years to come and should be protected.Long-Term Care Insurance: Used to protect your assets in case you cannot perform some of the Activities of Daily Living (ADL’s). The benefit can be paid for respite care, adult day care, in-home care, assisted living as well as nursing home care. These costs are very high today and will only increase, therefore passing this risk to an insurance company is usually a sound strategy.