Is Your Life Insurance Portfolio As Well Managed As Your Investment Portfolio?
Affluent families, family offices and their related businesses rely on specialists to manage their investment portfolios. But how many neglect the professional oversight of what may also represent a sizeable portion of the estate, their trust and company owned life insurance policies? When properly structured and maintained, life insurance can be one of the most tax-efficient ways to preserve and transfer wealth to new generations; but like any sophisticated financial planning tool, life insurance requires a specific expertise and due diligence to be successfully managed.
Here are three key ways we have found to ensure your life insurance portfolio is both well-structured and well maintained.
I. Insist on institutional pricing and solutions tailored for the affluent.
Affluent families and companies have sophisticated life insurance needs. That calls for customized life insurance solutions that can be seamlessly integrated into complex estate plans and business succession strategies.
Not every life insurance advisor offers both the expertise and the focused experience to provide these specialized solutions. We are independent and objective and pride ourselves in recommending policies that are best suited to you or your company’s particular situation or need.
II. Enlist experts to maintain your insurance portfolio over time.
Like investments, insurance portfolios need to be expertly managed over time. As the family’s situation changes or as a business grows, insurance portfolio strategies must be updated. As the economy shifts, the stability of insurance carriers, as well as the types of policies most appropriate for the economic environment, must be constantly monitored and periodically adjusted. We approach life insurance decisions like investment decisions by utilizing a disciplined, ongoing process for analyzing these interrelated factors in order to create a distinct advantage. Our independence makes it easy to recommend changes to your insurance portfolio as needed.
III. Ensure your life insurance advisors work well with your other advisors.
The financial affairs of ultra-affluent families are intricate, involving significant assets, as well as an array of financial objectives, advisors, and beneficiaries. Families & businesses are best served by a specialist who adds value as part of an advisory team, and who can flexibly balance sometimes overlapping goals or desires.
Given all that is at stake both personally and financially, your life insurance portfolio deserves the care and attention of truly qualified specialists who can help you preserve your wealth & protect your business for generations to come. Morgan Advisory Group has been successfully managing life insurance portfolio for over 25 years.