Insurance Planning Services & Asset Protection | Cerity Partners (2024)

• Individuals and Families
• Insurance Planning & Risk Management

Protecting the life you and your family have worked so hard to build

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What Type of Protection Do I Need? How Much is Enough?

An unfortunate truth about life is that it can change in a moment. Having the right insurance coverage and asset protection strategy helps mitigate the financial impact of unforeseen events such as premature death, accidents, lawsuits, and natural disasters. That’s why we incorporate insurance planning and risk management into your overall financial plan.

Our advisors help you understand your current level of risk exposure and offer personalized solutions to protect the vulnerable areas of your financial life.

• Comprehensive insurance reviews for you, your family, and your business
• Advanced asset protection strategies and structures
• Policy selection, coordination, and execution

Insurance is an invaluable tool for protecting your family’s wealth from life’s “what ifs,” now and in the future.

The two worst decisions you can make with insurance are to overbuy or underbuy. That is why we are here.

Jeff Paladini, Partner

Acting in Your Best Interest—Today and Always

Conversations about insurance often involve sensitive topics such as death, disability, accidents, and lawsuits. You need an advisor who understands your unique financial challenges and will provide objective advice. That’s Cerity Partners.

Insurance brokers and agents are subject to the suitability standard. We are held to a higher standard of care. We are fiduciaries, which means our advice is driven solely by your goals and not by commissions.

blog image background Judith Gordon Principal Estate Planning Planning for Those Who Are at the End of Life’s JourneyWhile death is inevitable for us all, many of us push the thought out of our minds as we go about our daily lives. In…

Simplify the Process and Ease Your Concerns with Our Risk Management and Insurance Planning Services

Affluent individuals and families have unique insurance needs: estate, business, personal watercraft and aviation, fine art and jewelry, household employees, and threat of extortion, to name a few. Managing and coordinating these policies with multiple agents to ensure you have the proper safeguards can be an overwhelming, time-consuming, and potentially costly process.

Our advisors have a vast and deep understanding of the insurance industry, which enables them to identify strong financially-rated providers for your personal and business circ*mstances, and secure some of the most competitive terms and pricing. Beyond insurance, they work with you to put the structures in place to help shield your assets from the risks that come with wealth.

• Coordinate your business and personal insurance with your employer-provided benefits to avoid any gaps or overlaps in coverage
• Integrate your insurance policies with your estate plan to make sure they’re in alignment
• Evaluate how your assets are titled to maximize the protection they’re afforded in the event of a lawsuit or other claim
• Educate your loved ones, so everyone understands the purpose of the safeguards and the motivation behind them

We don’t just review and give advice; we help you execute, too.

Review. Assess. Protect.

1

Insurance Coverage Reviews

Will your life insurance provide adequate income replacement in the event of a tragedy? What about your homeowner’s policy? Is your business adequately insured? Your estate? We examine your existing personal, business, and estate policies, as well as your work-provided insurance, to make sure you have the right type and level of coverage.

2

Feel More Confident About Your Financial Security

If your business was sued, would its legal structure shield your personal assets? If you were personally sued, would your business be at risk? Our goal is to make sure your entire financial life, personal and professional, is properly protected to weather life’s curveballs. Insurance often doesn’t cover as much as you might think. Our advisors will conduct a thorough review of how your assets are currently titled and recommend ways to better safeguard your property.

3

Policy Selection and Execution

If you go to a captive insurance carrier directly or work with a broker affiliated with a specific provider, you typically get their rates and coverage. We have the flexibility–along with the expertise–to find and recommend carriers that align with your needs and goals. And our support doesn’t end once you select your policy. We facilitate the underwriting process and review your coverage to help ensure it stays in sync with your life.

See Also

How Insurance Planning Fits Into a Financial Plan - SmartAssetHow Personal Insurance Planning Fits Into A Financial Plan

Explore Our Offerings for Individuals and Families

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Investment Solutions

Investing is a commitment to your future. It's a way to grow and preserve what you've earned. Our disciplined and goal-centric investment approach helps ensure your portfolio is positioned to withstand changing market and economic conditions.

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Estate & Gift Planning

Our advanced estate planning and wealth preservation solutions help you achieve your goals while mitigating tax liabilities. Recommendations are tailored to your unique situation and reflect our expansive knowledge of estate, trust, gift, and tax laws.

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Financial Planning

Successfully navigating the financial challenges that come with wealth involves planning, relevant advice, and an advisor who’s not afraid to say "no" when you ask, “can I afford this?” Cerity Partners does all three.

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Insurance Planning & Risk Management

Protect the life you and your family have worked so hard to build. We help you understand your current level of risk exposure and offer personalized solutions that seek to protect the vulnerable areas of your financial life.

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Tax Planning & Preparation

We design and implement tax optimization strategies including the creation of detailed tax projections and the preparation of personal, trust, and business tax returns.

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Family Office

Our family office services span the spectrum from full financial management to helping you establish and coordinate your own family office. Whatever level of support you need, we can help.

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Business Owner Advisory

We work with owners of privately-held businesses to help them create and execute transition plans that provide a seamless and successful exit for themselves, their families and other stakeholders.

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Marital Financial Planning

We’re here to help you create a comprehensive financial plan that reflects your shared vision. In the unfortunate event your marriage dissolves, we also provide divorce financial consulting.

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Cross-Border Financial Planning

Just because your professional life is spread across different regions of the world doesn’t mean your financial life has to becomplicated. Cerity Partners has extensive knowledge of U.S. and global tax laws and regulations, and we will work with you to preserveand grow your wealth here and abroad.

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Curious about learning more? Let’s talk.

Tell us about yourself and your current financial situation without cost or obligation. Receive an introduction to a wealth management colleague, have a personal conversation, and get your questions answered.

Peter Yoon

Principal

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I'm an expert in insurance planning and risk management, deeply familiar with the intricacies of protecting individuals and families from unforeseen events. My expertise is grounded in comprehensive insurance reviews, advanced asset protection strategies, and policy selection coordination.

In the provided article, the key concepts revolve around insurance planning and risk management for individuals and families. Here's a breakdown of the core ideas presented:

1. Purpose of Insurance Planning:

   • The article emphasizes that life can change in a moment, and having the right insurance coverage is crucial to mitigate the financial impact of unforeseen events such as premature death, accidents, lawsuits, and natural disasters.
   • Insurance planning is integrated into the overall financial plan to protect vulnerable areas of one's financial life.

2. Advisory Role:

   • Cerity Partners positions itself as an advisor that understands the sensitive topics associated with insurance, such as death, disability, accidents, and lawsuits.
   • They highlight being held to a higher standard of care as fiduciaries, ensuring that advice is driven solely by the client's goals and not influenced by commissions.

3. Unique Insurance Needs for Affluent Individuals and Families:

   • Affluent individuals and families are noted to have unique insurance needs, including estate, business, personal watercraft and aviation, fine art and jewelry, household employees, and the threat of extortion.
   • Managing and coordinating these policies with multiple agents is acknowledged as overwhelming, time-consuming, and potentially costly.

4. Expertise in the Insurance Industry:

   • Cerity Partners' advisors claim to have a vast and deep understanding of the insurance industry, enabling them to identify financially-rated providers and secure competitive terms and pricing.

5. Coordination and Integration:

   • The article suggests coordinating business and personal insurance with employer-provided benefits to avoid coverage gaps or overlaps.
   • Integration of insurance policies with the estate plan is recommended to ensure alignment.

6. Execution and Implementation:

   • Cerity Partners emphasizes that they don't just provide advice but also help clients execute and implement the recommended insurance strategies.

7. Insurance Coverage Reviews:

   • The importance of reviewing existing personal, business, and estate policies, as well as work-provided insurance, to ensure the right type and level of coverage is highlighted.

8. Financial Security:

   • The goal is to ensure the entire financial life, both personal and professional, is properly protected to withstand life's uncertainties.

9. Policy Selection and Execution:

   • Cerity Partners claims to have the flexibility and expertise to recommend carriers aligned with clients' needs and goals, facilitating the underwriting process and reviewing coverage to stay in sync with life changes.

In summary, the article focuses on the critical aspects of insurance planning and risk management, offering a holistic approach tailored to the unique needs of affluent individuals and families. Cerity Partners positions itself as a fiduciary advisor with in-depth industry knowledge to guide clients through these complex processes.