Risk Management & Insurance Planning
We Develop Risk Management Plans
What events could jeopardize your financial integrity? What could threaten your assets or your earning ability? How have you prepared to handle those events if they should occur? A risk management plan can help you assure that you are protecting the people you care about and give you peace of mind.
Most people never develop a plan for managing financial risks. You probably never sat down and actually developed a plan for dealing with those events that could pose financial risks to you or your family. Without a plan:
• you may be over-insured in some areas and underinsured in others.
• you may be unaware of the risks to which you are exposed.
• you may be insuring risks that are more emotional than financial in nature.
We can help you develop a risk management plan. To develop this plan, you will:
• Identify those events which pose a financial risk to you or your family.
• Learn the four basic methods of managing risk.
• Determine which methods you are currently using to manage your risks.
• Identify gaps in your current risk management strategies.
If you are bearing risks that you should be transferring (i.e., insuring), you are carrying risks that threaten your financial security. These gaps should be a top priority. We will check into insurance costs for that specific risk.
If policies seem too expensive for you, we will consider choosing a higher deductible (for auto, home or liability insurance) or a longer waiting period (for disability and long-term care insurance). We will consider less expensive term life insurance rather than whole life. Your Newbridge Financial Consultant will develop a risk management plan that is tailored to your individual situation.
Risk disclosure –
Important Legal Information
All investments involve risk, including possible loss of principal. Investing made with Newbridge Financial Services Group does not guarantee one’s retirement income needs will be met.