An appropriate insurance plan is an integral part of a robust wealth accumulation plan. For most of us, our largest asset is our remaining human capital: our ability to earn an income for years to come. In the aggregate this is often a huge amount that dwarfs most other assets we own. Like all assets, our human capital needs to be protected in case of loss or damage.
Not only our human capital needs protection, so does our carefully planned legacy. In many situations, especially for business owners, insurance is often the only viable way to equalize wealth among the heirs if one of them wants to continue on with the business while the others prefer to pursue different avenues in life. While the business is left to one heir, the other heir(s) could receive the insurance proceeds to provide an equalization for the estate. This solution avoids bitter family disputes and ensures a legacy implementation the way you envisioned it.
At Northern Lights Retirement Counsel, we offer the following insurance solutions to protect your human capital and legacy:
Your legacy is like a work of art. It has various pieces that all have to fit together in order to form the enduring sculpture that will stand the test of time. It includes looking after your body and mind, investing in your human capital regularly, living a balanced life, saving for the future, educating your heirs about your values, investing in the right financial instruments and protecting all of the above using the appropriate insurance solutions.
Please Contact Us via email or call our office at 416.498.1900 for your complimentary insurance consultation. We look forward to getting to know you.