While the central focus is often on wealth accumulation, it’s also important to consider ways to mitigate potential risks to your long-term financial plan.

• Life Insurance can serve multiple purposes. For most, it will create a financial buffer for your family in the event of a tragedy. It can also be a component of an estate plan; provide liquidity for an illiquid estate; and can be used for charitable purposes, among other things.

• Disability Insurance can provide income replacement in the event you are unable to work due to illness or injury.

• Long Term Care Insurance can help to cover medical expenses resulting from an illness or injury.

• Property & Casualty Insurance is an often overlooked component of a sound risk management plan. Having the proper coverage on your home, automobiles, and other valuable assets can be meaningful when uncommon, but ultimately inevitable events occur. A key component here is Umbrella Liability insurance, which can protect your wealth from lawsuits and other personal liability scenarios.

• Health Insurance & Medicare enrollment is not something most look forward to. We can help guide you through the process to ensure you are taking advantage of the best options available to you.

As an independent “fee-only” Registered Investment Advisor, Parallel does not sell or receive commissions on any insurance products. However, we have the in-house expertise to help you evaluate your situation and make recommendations across all areas of risk mitigation, and if appropriate, we have an extensive referral network of top-notch insurance advisors that we can introduce you to for implementation.