Insurance is your first line of financial defense. And your last line, too.
Investments alone can’t protect your family from every risk. That’s why Smith Private Financial Counsel takes insurance planning as seriously as investment planning. We view insurance as your most reliable defense against life’s “what ifs.” By addressing risks with effective insurance strategies, we aim to give you the confidence that comes from knowing you’ve covered all bases.
As an independent advisory firm and licensed insurance broker, we don’t push products – we offer options. Our approach to insurance is consultative and highly personalized. We start by reviewing your entire situation and asking, “What are the biggest financial threats to this family’s well-being?” Then we explore whether an insurance strategy is the right tool to help mitigate those risks in a cost-effective way. Because we’re independent, we have access to a wide range of carriers and products – meaning we can shop objectively for the best value and fit, rather than being tied to one company.
An integrated, needs-based approach
Part of our insurance review involves auditing any existing policies you have. Are you paying for coverage you don’t need? Do you have gaps in coverage that you do need? We’ll let you know. Often, we find clients can save money by restructuring policies or updating old coverage. Other times, we discover exposures and gaps (like no umbrella liability policy, or lapsed long-term care coverage) that we’ll help you address immediately.
No gaps, no overlaps
Here are some of the key areas we address through insurance and risk management:
Life insurance provides instant liquidity when your loved ones need it most. We help determine the right amount and type – term life for income replacement or permanent life for wealth transfer. The right policy ensures your family can pay the mortgage, fund college, or continue your business. It also helps equalize inheritances or cover estate taxes.
Income Protection & Annuities
For many retirees, guaranteed income provides baseline protection. We may recommend fixed or fixed-index annuities to cover essential expenses with guarantees* stock investments can't provide. When appropriate, annuities can provide guaranteed income. We carefully evaluate if they fit your plan – and if not, we'll tell you that, too.
*Guarantees subject to issuing insurance company's financial strength; not guaranteed by any bank or the FDIC.
Long-term care is the "meteor" many retirement plans never see coming. Through traditional policies or hybrid products, we help you plan for nursing home, assisted living, or in-home care costs. Our goal is helping to ensure a health event won't eat away at your savings or burden your family. We'll walk you through coverage options and alternatives so you're prepared for whatever comes.
Wealth can be eroded by legal risks, not just market events. We advise on umbrella liability insurance to shield you from lawsuits. We'll discuss asset titling strategies or trusts for protection. For business owners, we explore buy-sell agreements and key person insurance to help ensure business issues don't become personal financial disasters.
Bottom line: Protect your confidence today.
