Protection planning, also known as insurance planning, requires analyzing your personal and employer provided insurance coverage as well as capital needs to determine the optimal level of insurance in the case of unforeseen events. This considers family dynamics, including the number of dependents, how long dependence will last, and how income needs might change over time, as well as one-time needs such as debt pay-offs, college funding and funeral expenses. The objective is to determine if there is a life insurance need and, if so, what kind and how much. Evaluating existing policies to determine whether they remain appropriate and discussing any alternative solutions is also considered.
In addition to life insurance, other types of insurance may be suggested such as long-term care, health, disability, and property insurance. We evaluate and quantify the risks that these products could protect against and assist in determining whether they are risk management tools that should be considered as part of an overall financial plan.
Grand Life Financial does not recommend any insurance products and is not licensed to sell any insurance products.
