Insurance planning can often be the most important yet least utilized aspect of a successful financial plan. This includes life insurance benefits for loved ones, long-term care strategies for potential long-term care situations and asset protection instruments. 

Life insurance products have vastly changed over the years with many living benefits now being included. We often utilize certain life insurance products for things like college planning…yes, college planning!! Most people these days think of life insurance as a tool that only comes into play once someone passes away; however, this is no longer the case. These products are very versatile and can be used for a myriad of situations such as future tax-free retirement and long-term care benefits. 

Long-term care is an unfortunate reality that affects roughly 70% of people at some point in their lives. This could include in-home care, assisted living or even nursing home. The costs associated with these events can be staggering and often, financially devastating. The good news is that there are alternatives to traditional long-term care insurance that for many can be unaffordable. At Safe Harbor, we explore all options available to find the best solution for one of these potential events. 

Asset protection can often be very useful in conjunction with one’s overall retirement plan. These can be used for a portion of one’s retirement savings to accomplish growth with asset preservation. Like many other insurance products, these instruments have vastly changed and improved over the years. It can quite often serve as a useful tool for those with a more conservative tolerance for risk that still need the ability for growth to accomplish their retirement success.