Risk

Accounting Today - - Assurance -

white. There are four sit­u­a­tions pos­si­ble with re­spect to long-term ill­nesses. You have a health event and ei­ther have cov­er­age or you don’t have cov­er­age, or you don’t have a long-term health event and you do have cov­er­age. Any of these pos­si­bil­i­ties can be fore­cast to il­lus­trate the con­se­quences of the long-term ill­ness and/or the cost of cov­er­age with­out ever hav­ing to use the cov­er­age.

Risk is of­ten a sub­ject fre­quently cov­ered with in­sur­ance. While there are many great in­sur­ance agents in the

world, I think that many would agree that the pro­fes­sion is also full of sales­peo­ple whose mis­sion is to sell as much in­sur­ance as they can, with­out any fidu­ciary re­spon­si­bil­ity. Em­brace risk, and your role to be that in­de­pen­dent fidu­ciary as­sess­ing your clients’ needs and plans, and you’re al­most guar­an­teed to en­hance their ex­pe­ri­ence.

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