Insurance Planning

Risks are an unavoidable fact of life. While growing your wealth, we are equally dedicated to protecting you and your family from uncertainty. For modern executives, strategic insurance planning incorporates the detailed analysis of where potential exposures in a plan may exist and whether those risks are acceptable or prudent to address.

In addressing risks to family wealth, shifting liability onto another entity can create the potential for a substantially favorable risk-adjusted return. At Spurstone, our approach to insurance planning is grounded in customized analytics and research. We seek optimal risk-hedging in order to skew downside risk while limiting potential cost to our clients.

Common areas of evaluation often include:

Executive Life Insurance

Life insurance planning for executives must be handled properly. By focusing on the benefits of highly-efficient life insurance ownership vehicles, we can aide in maximizing the ROI of life insurance policies by managing tax exposures on these assets. Understanding and leveraging these planning vehicles can potentially alter the long-term value of insurance planning for you and your family.

Once the proper ownership vehicles are chosen can the proper insurance products be evaluated and implemented. As your independent consulting partner, Spurstone has access to a vast pool of insurers based on financial strength, cost, and customer qualitative metrics to determine the appropriate strategy for a client’s given needs.

Long-Term Care Planning

For many of the client families we serve, funding long-term health care is not the only priority. Additional concerns extend to the quality of care in the event of a person’s incapacitation. In these cases, it is critical to create a legal written care document for key members of the family.

This document outlines the specific desires an individual or family may have regarding the health care they require. This includes everything from where care will occur, who will provide it, the costs willing to incur and even personal requirements of requests. These documents provide security in knowing you should receive the quality of care you require and deserve regardless of who is administering your financial affairs.

Once the quality of care is determined, we then evaluate the likeliness of incurring these financial costs in order to understand the long-term financial risk. If prudent, we work with our clients to determine whether these risks should be shouldered by the family through self-funding or outsourced via an insurance strategy. By designing a custom insurance strategy, it may be cost advantageous to spread this risk to an insurance partner.

Frivolous Lawsuits, Cyber Security & More

Successful families can quickly become the targets of thieves, criminals, and opportunistic attackers. A simple car accident or fall at your home by a family nanny could quickly spiral to a substantial risk to your wealth.

It is prudent to review your liability insurances to evaluate potential gaps and ensure cost efficiency. At Spurstone, we integrate with specialized insurance advisor resources to evaluate client liability insurances. This allows our clients the comfort of knowing they are protecting their family against potentially enormous liability as well as malicious attacks.