Insurance Strategy

What are the risks and added value of a financial strategy?

A life insurance policy can bring its share of positive and risky aspects, if you do not first have an awareness of the overall environment of the financial strategy. For example, the hidden penny can come to you when you are no longer able to pay your premium after 10 years.

Indeed, when you embark on a new financial strategy, you must be aware of the right mentality to adopt, in order to better address the various risks that may eventually present themselves to you. More details in video.

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Assessing insurance needs: Why is it important?

The need to take out insurance becomes necessary, even mandatory at some point, especially in the context of family life. This allows you to take shelter while anticipating potential unfortunate events that may occur in the future. However, to ensure that you make the right insurance choice, it is important to go through the evaluation stage. What is the assessment of the need for insurance and how is it advantageous to you? We tell you about it in this article.

Why conduct an assessment of the need for insurance?

The very concept of insurance is defined as obtaining a security guarantee after the occurrence of a disaster. Thus, a person uses insurance when he considers that it is necessary to cover a risk related to one of his possessions.

It is then necessary to carry out an assessment of the insurance needs of customers to offer them the insurance contract adapted to their situation. In addition, the assessment of insurance needs is an approach that makes it possible to make customers aware of their real priorities. They will then be able to better manage the risks.

With all the products that insurance companies offer, it is better to evaluate your needs to avoid ending up with all kinds of insurance that are not always useful. Let’s see how to assess customers’ insurance needs in 3 steps.

Identification of the individual’s needs

To successfully assess customers’ insurance needs, you must first identify them. This is a step that makes it possible to identify all the cases for which the customer may need insurance.

It is good to know that each customer’s need must be studied so that we know concretely the insurance contract that will perfectly meet the identified needs. The client must therefore provide the right information with which he can be properly advised.

Assessment of potential risks to be covered

The second step in assessing a client’s insurance needs is to assess the different risks they want to cover. This will make it possible to prioritize the risks in the right order in order to direct the customer to the insurance contract that suits him best.

The assessment of the need and the different risks must be done with a professional in the field. When you have property such as a car, a business or any other property, damage insurance is the best solution for you. Indeed, in the event of a claim, you have the possibility of receiving compensation from your insurer. This indemnity concerns both civil liability and property.

In this case, a replacement cost will be calculated from the beginning to know the value of your property, in order to restore them once a disaster occurs.

Insurance Consulting

It is important that the customer is aware of the risks to be covered before opting for any insurance contract. This necessarily involves the insurance consulting stage. This is the domain of the insurer who has the obligation to provide the customer with all the necessary information.

However, this role can also be played by the financial planner who will be able to determine your knowledge of the product you want to subscribe to in order to direct you to the best offer.

Specific case of the mortgage

If you are an individual and you want to acquire real estate, it would be wise for you to get a mortgage, if you are short of finances. However, there may be times when you encounter difficulties when paying off the mortgage you have taken out. To overcome this, you can opt for mortgage insurance in order to guarantee the continuity of payment even when you are disabled, unemployed or sick. This is a great way to ensure risk management and cover yourself in case of a delicate situation.

In this case, even before taking out your loan to switch to the mortgage, it is necessary to call on a broker. The latter will be able to proceed with a mortgage brokerage, serving as an intermediary between you and the financial institutions to allow you to obtain the financing adapted to your situation.

For an individual, having personal insurance is fundamental to ensure the protection of his possessions. Nevertheless, it is necessary to go through the insurance needs assessment stage in order to prioritize risks and manage them. Thus, it is necessary to call on a financial planner like Planico, to obtain a suitable insurance advice.

An expert in financial planning for advantageous insurance strategies!

Making the necessary arrangements to deal with unexpected situations is a useful strategy and to be realized no matter when in your life you are. You are young, healthy and at the peak of your career, you are at the very beginning of setting up a company that represents a life project, you are a few years away from your retirement or already retired for years? No matter what stage you are at, insurance strategies are solutions to adopt at all costs to live better while preserving your assets. Planico is a financial planner who has the necessary skills to effectively support you in the implementation of advantageous insurance strategies. What services does Planico offer in Montreal and its surroundings in terms of insurance strategies and why subscribe to them?

On what basis are the insurance strategies set up by your expert in Montreal established?

In order to offer you tailor-made solutions that meet all your needs and objectives, Planico provides you with specialized skills capable of determining with accuracy and professionalism the insurance strategies that will best suit your portfolio.

This financial planning professional offers you in Montreal and its surroundings useful financial solutions while taking into consideration a large number of present and future factors. The economic situation, your age, your professional profile, your assets and your expectations among others are taken into account.

What are the advantages offered by a well-realized pension plan?

By opting for the services of an expert to carry out a tailor-made insurance strategy with regard to life insurance, credit insurance or health insurance to name but a few, you are sure to guarantee yourself good financial security. This will take into account the adequate protection of your property, your loved ones as well as your various investments in different areas.

What coverages does your expert offer?

The insurance strategies developed by your expert in Montreal can be grouped into several groups. Your expert could therefore direct you to one type of insurance or another depending on your profile and your expectations.

Disability, health and long-term medical insurance

Professional life is littered with unforeseen events and situations that can permanently undermine your serenity by making you plunge into great precariousness. Accidents at work or situations of serious illness are therefore at the heart of the solutions sought and implemented as insurance strategies. Thus, disability insurance concerns workers and intervenes in the event of loss of income due to disability.

Health insurance, on the other hand, makes it possible to support the patient by providing cash or by paying his medical bills in Montreal or elsewhere. This insurance helps you deal with all situations caused by critical illness.

Also in the register of diseases, care insurance allows workers suffering from illnesses and requiring long-term care to benefit from home care or installation of medical equipment and home redevelopment.

Individual life insurance

This type of insurance takes into account a wide range of benefits. For example, it intervenes at the time of your death by covering the costs related to the organization of your funeral. This type of insurance can also cover assistance with the payment of your children’s tuition fees, supplement your retirement income, help with the estate transfer of a company, take care of a dependent and much more.

Credit insurance

It concerns the repayment of your debts at the time of your death. This insurance makes it possible to relieve your inheritances and honor your commitments even after your departure.

Planico: tailor-made insurance strategies and more in Montreal and the surrounding area

In addition to offering you many insurance strategies, Planico in Montreal and its surroundings offers several other services to take care of your finances whether you are an individual or a company. Financial strategies, retirement and succession planning, and tax analysis and decisions are all areas supported by your experts in Montreal and the surrounding area.