What If?

As everyone knows, the future is uncertain. Insurance planning is a tough topic because it makes people think about unpleasant things – such as death, injury, sickness, and uncertainty.

Other aspects of your financial plan are easier to discuss and execute because it’s about building your wealth and securing the future for your family and loved ones. However, if you value your current and future assets, it is important to obtain protection for those assets so that your wealth is safe from loss.

Shepherd Wealth Partners will help you develop a holistic insurance plan to help provide for your loved ones in case the unexpected happens.

What Is Insurance Planning?

There are a variety of risks that can impact your life, the lives of your loved ones, property, business, and your wealth.

Insurance planning is a process of evaluating risks and determining appropriate insurance coverage for mitigating those risks. It is a critical component of a comprehensive financial plan.

Which Types Of Insurance To Get


A successful financial plan requires a strong foundation of protection; which is what insurance can provide.

Insurance is a wide topic and often thought of as complicated and confusing. The amount of information regarding insurance is overwhelming and most people know very little about the various options available. It is difficult for most people to know which types of insurance to get and how much they will need.

While insurance can be an overwhelming topic, Shepherd is here to guide you through the myriad of choices and help clear up some of the confusion. There are a number of types of insurance. Generally, your insurance plan breaks down into these main areas:


Living Benefits:
Designed to make funds available for future use by taking advantage of the tax code. These benefits provide supplemental funds for retirement or long term care.

Wealth Transfer Planning:
Provides cash to pay estate taxes, equalizes inheritances among heirs, and leverages wealth through gifting. Protects your current wealth, and maximizes your multi-generational plan.

Protection Planning:
Provides for replacement of lost income upon death or disability, and protects existing assets. A Protection for your family and loved ones from financial hardship.

Business Planning:
Serves to replace lost income upon death or disability, to provide funds for the sale or purchase of the business, to retain employees, and provide collateral for business loans. Solutions to keep a business viable during times of death or disability.


While you won’t need every type of insurance that’s available, everyone should have health insurance. Anyone with a car should have auto insurance. Anyone with a home should have a homeowners insurance policy. If you have children or a spouse, it’s also a good idea to get life insurance.

If you’re in the workforce, disability insurance can guarantee that you have a source of income when you’re too sick to work.

Those approaching retirement may need long-term care insurance.

If you’re lucky enough to have more than $1 million in savings, you should consider liability insurance in case you’re ever hit with a lawsuit.

When To Consider Getting Insurance

If you are getting serious about your financial plan, it is also time to get serious about insurance.

Certain situations such as those related to healthcare, property damage, or any number of life’s circumstances can be expensive for those without coverage, so it’s important to purchase any policy you need based on your financial status.

Millions Without Coverage

Based on numbers reported by Gallup and Sharecare, over 30 million U.S. adults did not have health insurance in the fourth quarter of 2017. More than 80 million do not have life insurance. Over 80 million homeowners (over 64%) are without coverage for their homes.

That means tens of millions of people could face incredibly hard times if their home is destroyed in a fire or storm, they become sick and are unable to work or pay their bills, or they die and leave only their expenses behind for their loved ones to bear.

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