The mission of the protection planning area is to confirm resources available and the protection needs that are at risk. Premature death, disability, long term care and health care are the most important areas of risk you need to understand, plan and act on.
What is protection planning?
It is a series of scenarios illustrating what happens when a loved on passes on, is disabled, has huge medical bills or needs ongoing assisted care.
What are Protection Planning Scenarios?
They are a series of alternate scenarios showing the costs of income needed by the survivor/disabled person and loved ones, estate taxes and debt if you die.
Professional advisor perspective: Highlights existing premature death, disability coverage, long term care and medical expenses and benefits, income and social security and expenses.
Vision: The caregiver, patient/survivor and family will grasp the need and minimize risk to the loved ones if income from wages, assets and financial stability is lost.
Goal: To motivate the caregiver and family to understand the need, risk and opportunities to protect themselves and loved ones and take action.
Strategy: To prepare the caregiver to act on taking actions on their understood needs and benefits, thus reducing their financial risk.
Tactics: Get everyone to agree and communicate on the roles, numbers and goals and numbers.
Supplemental Value-Added Activities