Protecting That Which We Can Least Afford To Lose

David F. Lau, Main Platform Speaker, 1987
Million Dollar Round Table Annual Meeting

"Could you afford to replace this?" This helpful maxim helps to illustrate the point that a financial plan is not built on a firm foundation unless it provides and protects against unwanted contingencies. What happens to the plan if there is a disability, a premature death, or a fire? Managing the risks that can threaten your financial well-being is every bit as important as saving and investing toward your goals. Selecting the right insurance coverages is a critical element of any financial plan. As your circumstances change, so do your needs. We review our clients' entire portfolio regularly to help minimize risk and maximize security.

We provide solutions from the country's strongest and most trusted insurance companies. Whether you are looking for guaranteed death benefit protection, low-cost coverage for a term of years, consistently strong cash value accumulation potential, or even insuring your ability to fund your retirement in the event of disability, our advisors have a solution to meet your needs. Our broad range of insurance choices include:

Life Insurance

Life insurance serves as the basic building block of any solid financial plan and can be a critical element of estate planning - for example, helping to protect the assets of surviving family members from taxes and creditors. Whether it is term life, permanent life or a more complex policy, we have the solutions to help protect you and your family.

Disability Income Insurance

The vast majority of financial plans - not to mention one's standard of living - depend on the ability to earn an income.  Individual disability income insurance helps preserve a portion of your income and provides financial protection should you become disabled for an extended period of time. What is your Income Gap?

Planning for Long-Term Care

As health care costs continue to rise, a long-term illness can have devastating effects on your savings and your otherwise carefully constructed financial plans. Long-term care planning addresses what financial resources may be needed to help cover the costs of an illness, accident, or as a result of the normal effects of aging.

Annuities

In an age that has seen the employer-provided defined benefit pension plan phased out of most employee benefit plans, annuities - where appropriate - may provide the individual with the ability to create something of a private pension with a portion of his or her retirement savings. Annuities may also provide a suitable protection in times of heightened capital markets volatility. Guarantees are based upon the claims paying ability of the issuing insurance company.

Home, Auto & Umbrella Liability Insurance

One of the most effective tools for asset protection is personal liability insurance, which typically offers relatively inexpensive protection against a range of personal lawsuits. Yet many people do not take advantage of these "personal umbrella" policies, which supplement the standard liability limits of primary policies. Those who do use personal liability insurance often default to a $1 million starter policy without carefully considering whether that is the appropriate amount of coverage. Instead of simply choosing default coverage amounts, coverage should be discussed with competent insurance advisors, and should take into account personal net worth, personal risk exposures and related considerations unique to an individual's situation.

You may find tools like the  Insurance Information Institute's Know Your Stuff® Home Inventory website and app useful in the event of a homeowner's insurance claim. Please note: Information entered into this software is subject to the terms of use and privacy policy of the site hosting the service. Lau & Lau Associates assumes no liability for the service.