Risk Topics – Insured Risk Management Planning

Risk Topics
The risk an individual faces may be a combination of various factors: the risk of death and accidents, the threat of natural disasters, and market volatility. In terms of personal well being, some risks may affect life expectancy and result in temporary or permanent disabilities.
Insured Risk Management Planning
Financial planning must include an efficient program to establish and manage risk. The program must be able to identify, measure, and remedy exposure to potential losses. Risk management deals with losses due to damage or destruction of property, illness or death.
Although, risk management was viewed as an issue pertaining exclusively to business, today we recognize that families and individuals must organize their estates and finances using the features adopted by business – identification, planning, and risk management.
An individual who is able to manage exposure to losses may be able to obtain better results, optimize his/her cost structure, and reduce the volatility of his/her personal, family and/or corporate estate.