Insurance Planning At the center of your growing financial empire is your castle and around your castle is a moat filled with alligators. Because every great king and queen know that the best offense is a good defense.In our analogy the moat filled with alligators is the risk management provided by insurance. We can transfer some of the financial risk imposed by death, disability and long-term care onto the insurance company.In each stage of your empire-building your risks change and so should your risk management strategies.For the young executive, early mortality or morbidity could leave family members financially devastated. But life and disability insurance needs ebb and flow as assets, liabilities, expenses and income fluctuate. It’s not enough to create and implement a risk management strategy, we need to periodically review to make sure the strategy matches the current need.For the retiree, permanent and cash value life insurance policies should be reviewed. As asset levels rise, the death benefit may not be critical for your heirs. However, the cash value can provide another asset class to balance your investment portfolio. Furthermore, tax-free withdrawals in the form of loans may be advisable in years when market volatility is taking it’s toll on your IRA. Unfortunately, many retirees don’t include these assets in their overall plan. Often times, permanent and cash value life insurance is overlooked while a person is younger and unavailable when they are older.Here at Privada Wealth Management, we understand the need to be open to each and every insurance strategy at our disposal, weighing the pros and cons of each. Click here to find out more.