Risk Management
Nothing is more important than your life and your ability to make a living. So, it makes good sense to protect your greatest asset – you!
As we move through life, find a partner, raise a family, and maybe start a business, the importance of a long-term plan increases – providing a financial safety net that helps you to take care of yourself and those you love when you need it the most.
1. Protection for you and your family
Your family depends on your financial support to enjoy a decent standard of living. This means that the people who matter most in your life must be protected from financial hardship if the unexpected happens.
2. Reduce stress during difficult times
None of us know what lies around the corner. Unforeseen tragedies such as illness, injury or permanent disability, even death, can leave you and your family facing tremendous emotional and financial stress. With proper planning in place, you or your family’s financial stress will be reduced, and you can focus on recovery and rebuilding your lives.
3. Enjoy financial security
No matter what your financial position is today, an expensive future event can see it all unravel very quickly. A contingent plan for both unforeseen and expected events (like a critical illness or long-term care costs) ensures you and your family can continue to move forward.
4. Peace of mind
No amount of money can replace your health and wellbeing – or the role you play in your family. But you can at least have peace of mind knowing that if anything happened to you, your family’s financial security is assured.
5. Business continuity
Business owners can take on certain business ventures because they can shift the risk. Ensuring the continuity of the business for its owners, employees and partners, the business may, for example, shield itself against losses that may come into being on a loss of a key person; succession planning; or the implementation of a buy-sell agreement.
6. A legacy to leave behind
Coverage of liabilities can secure that your assets are passed intact to your family, thereby ensuring the financial future for your beneficiaries and protect their standard of living.
Paragon assesses the overall wellness of all financial realities that each client faces, both present and in the future. We provide a comprehensive plan, then advise and guide you on which plan makes best sense for you and your family.
