Typical Client Situation

A newly married couple joyfully welcomed their first child into their family almost immediately after getting married. Recognizing the risks and responsibilities associated with children, they wanted to be positive they were protected so they could meet with planners at Ankerstar Wealth to discuss various insurance options. The planners can present basic fundamentals of risk management and cautioned them that without proper insurance coverage, their savings, home and future income could be in danger.

How We Can Help

The planners can review short and long-term disability provided by the couple’s employers to be certain coverage is sufficient. They can also stress the importance of proper coverage to protect them if a long-term disability occurred, which may be financially devastating without ample coverage.

Next, the planners would complete a needs analysis to determine life insurance requirements. They can suggest the necessary amount and type of insurance. Last, they can review and coordinate group life insurance benefits and recommended designated beneficiaries.

Working in concert with the couple’s property and casualty agent, the planners can analyze the auto and homeowner’s policies to discern extent of coverage, the existence of replacement cost riders and amount of deductibles to be sure they were not paying too much. As added protection for their assets, Ankerstar Wealth can coordinate each policy’s liability with a recommended umbrella liability policy.

Results & Lessons Learned

Ankerstar Wealth planners provided objective advice because they are not tied to any particular insurance company. The end result will be to obtain proper coverage, help minimize annual costs wherever possible and adequately acquire insurance through high quality companies.

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