Is insurance enough to protect your assets?  It is only if you believe in the Easter Bunny, the Tooth Fairy and commission-earning insurance salesmen.

Insurance is the first line of defense in protecting your business and real estate assets. You should always have a reasonable amount of insurance coverage to protect against standard claims.

But you should never forget that insurance companies do not want to cover certain claims. They are certainly not willing to cover every imaginable claim.  As well, they are quite clear about excluding these claims from your policy. While it may not be detailed in bold capital letters,  and more often than not is in eye numbing miniscule print, the exclusions will be laid out somewhere in your policy.

As such, you will always need a second line of defense, which is the proper use of LLCs, LPs and corporations to protect your assets. The use of a second line of defense may be at odds with your insurance agent, who may stridently assert that your policy completely covers you. Such agents may further assert that with such a bulletproof policy you do not need to implement asset protection strategies.

First and foremost, you need to know that many commissioned insurance agents are less concerned with your asset protection needs than their need to sell lucrative, commission laden policy. Secondly, you need to know that they are not licensed to give legal advice. So feel free to questions their motives when they practice law without a license by saying you don't need asset protection because insurance is enough.

Insurance policies may cover most situations, but there is no absolute 100% guarantee that you will be covered in every imaginable situation-- which is why you need to use the proper mix of entities to supplement your asset protection planning and why you need to steer clear of insurance 'professionals' who would tell you that insurance is all you need.

If you are like most people, you put your life insurance policy away after you bought it and have never looked at it since.  Many life insurance agents do not follow-up with their clients on a regular basis and as a result, the client has no idea how their contract is performing.  There have been so many positive changes in the life insurance industry over the past decade that everyone should seriously consider having their life insurance policies reviewed by a professional.  InsuranceReview.net will provide you with an up-to-date written description of your policy and allow you to see if it is performing as originally planned.  We see policies all the time that were supposed to be “paid-up” and after our examination of the contract, we discover that the policy is actually scheduled to expire.  Just imagine paying your premium for years only to find out that your policy may not be there when you need it most.

Click here to begin the free policy review process or call us at 866-474-3100.