Risk Management

& Insurance

What is Risk Management?

Risk management is the identification, evaluation, and prioritization of risks followed by thoughtful application of resources to minimize and control the probability or impact of unfortunate events.

 

Things to Consider

Whether an individual, family, or business owner, our team can help you build risk management strategies that help hedge and insure against threats that could devastate your financial plan. The focus of risk management planning is not to make the best case scenario better, rather making the worse case scenarios manageable and tolerable.

Edge Wealth Strategies is not captive to any one insurance company and helps individuals to recognize that no single company can offer the best of a certain solution or product for everyone. It is critical to access several carriers to find the most appropriate company and strategies to help you achieve your goals.

Insurance Strategies for Individuals & Families

As an individual or family, risk management is centered around protecting what is most important to your lifestyle and financial well-being. Risk can impact the value of your assets, your ability to generate an income for yourself or your dependents, and so much more. With proper planning, the impact potential of certain risks can be recognized, addressed, and hopefully mitigated should they occur. For certain risks with major impacts, risk management planning often involves designing strategies to offload these risks to insurance companies (at a cost).

  • Life insurance

  • Disability income insurance

  • Long-term care insurance

  • Health insurance

  • Auto Insurance and Liability Insurance

Whether it's the financial impact caused by premature loss, injury or illness impacting income, health care costs during retirement, or how to adequately protect your home, car, and other assets; our team can help you understand all of your options for building more secure financial strategies.

Insurance Strategies for Businesses​

As a business owner, you are not unfamiliar with risk, from supply chain disruptions to interest rates, the unexpected can significantly derail your operations. Eliminating all risk is impossible, but identifying exposures that could harm your organization and creating comprehensive risk management and insurance strategies can limit the impact of these occurrences. With our guidance, we can help you understand the following: 

  • Key Person Insurance 

  • Group Insurance Planning 

  • Buy-Sell Agreement Funding

  • Disability Insurance Planning

The benefits of addressing these strategies can go beyond the mitigation of risks, to help ease business succession, to understand tax efficiencies, and to help improve employee retention.