Core Workshop #4:
Insurance and Estate Planning:

Insurance is a key element in any financial plan and one of the least understood. This Workshop begins with a discussion of life insurance, both how to calculate how much coverage one needs, and which type of life insurance makes sense, term or permanent.

We then review a worksheet listing all the different types of insurance they should consider and the key features of each policy. The final result is a single sheet with a complete insurance record containing every essential element they will need to make informed decisions on insurance.

We discuss the relationship between premium and deductible, and go through a worksheet that makes it easy for them to calculate a key decision: does a higher deductible/lower premium policy make financial sense?

Finally we move into estate planning. We discuss the basic, essential estate planning documents: wills, revocable and irrevocable trusts, health care directives and durable powers of attorney. We talk about taxes and probate and ways to minimize both. We also spend time on beneficiary designations, the source of some of the largest, most costly estate planning mistakes for people with much of their assets in retirement plans.

People leave the Workshop with a clearer understanding of these two important, but misunderstood, aspects of financial planning. They will know exactly what they must do to bring their insurance and estate planning up to date and in line with their financial goals.

NFP Securities, Inc. does not provide legal or tax advice. Any decisions whether to implement these ideas should be made by the client in consultation with professional financial, tax and legal counsel.