Protecting Your Net Worth and Minimizing Risk of Loss with a Financial Risk Management Plan and Insurance
Having a solid financial risk management plan and insurance is a key element of any comprehensive financial plan. The purpose of insurance is to protect your net worth by minimizing the risk of financial loss in the event of a catastrophe. Insurance is at the heart of sound financial planning. All financial plans should consider the needs and benefits of insurance. You may have questions about how much insurance you really need, what type of policy would be best for you and what highly rated companies have low premiums. If you already have insurance, you may want an independent evaluation of your coverage.
Synergy Capital Management can assist you in developing your financial risk management plan and insurance needs by evaluating your existing coverage and determining potential sources of risk and financial loss. Areas of concern to most clients include life, term, health, disability, long-term care, auto, home, personal liability (umbrella) and property and casualty. Many individuals find after a catastrophe occurs, that they were not adequately protected in certain situations.
As a fee-only advisor, Synergy Capital Management, does not sell any financial products, including insurance. Since we work for you, we are able to make impartial recommendations regarding appropriate coverage, carriers, limits and deductibles. This includes reviewing the cost and coverage of your current insurance policies, conducting needs analyses, and recommending the proper type and amount of insurance coverage.
We can offer an unbiased judgment on whether your insurance policies meet your needs. If additional policies are warranted, we can suggest options objectively. If you do not currently have a relationship with an insurance agent, we can assist you by providing a recommendation.
Having a financial risk management plan and insurance is important for building a solid financial foundation, but it is not the only element of a well-rounded comprehensive financial plan. Check out the additional services we offer to compliment your risk management plan.