Risk management-Necessità caso morte
From Planipedia
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| Situation | Recommendation | Purpose |
|---|---|---|
| Client and/or spouse have a shortfall on death that needs to be eliminated through the acquisition of new insurance coverage. | Needs on Death – Based on our analysis of your situation, you have the following shortfalls in the
event of death:
The following represents the most cost-effective strategy for acquiring the required coverage: Client Spouse Monthly Premium Increase Group Life Coverage $100,000 $ 22 1-year Term Insurance 10-year Term Insurance $200,000 $250,000 $ 75 Level Term to 100 Insurance Whole Life Universal Life $150,000 $125
| To identify shortfalls in coverage and identity the most cost-effective way of eliminating these shortfalls. |
| You have a client who has income that is strongly related to performance. Such as a commissioned sales person or perhaps even a business owner who plays a key role in the business. | Insurance on Children (Income Replacement) Although the risk is minimal, insurance coverage on your children should be considered. The primary reason for this consideration would be your employment status. A salaried position would likely be marginally affected by considerable down time, but because you are self-employed and your compensation is reliant on productivity, you would no doubt suffer an income reduction in the event of this tragedy.
| Self-employed people and people whose income is dependent on productivity can be devastated both emotionally and financially by the death of a child. Coverage on children is sometimes viewed as “morbid,” i.e., clients don’t want to benefit in the event of their child’s death. However, it’s possible that the family could be ruined by the death of a child should a major breadwinner suffer a significant reduction in income during the time period after the death of a child. |
| You have a client with children who have put in place all the necessary coverage for both client and spouse and you feel it’s appropriate to put in place coverage on children, primary to insure their insurability. | Insurance on Children (Insure Insurability) – Insurance on children may be appropriate if you have any concerns of a child’s future insurability or if you could benefit from the tax-sheltering of investment income. In this situation, permanent coverage is recommended. universal life would be ideal for tax-sheltering of investment income but whole life is veryeconomical for young children.
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