Just as is the case with investment assets, there is no single answer when it comes to insurance. Insurance is the way we as Wealth Advisors help our clients shift and manage certain risks. Without  proper insurance, you are choosing to retain those risks.

Risk retention means shouldering the repercussion of risks that might befall you. Just like with insuring your home or car, you are more exposed without protection - but that still doesn't mean you will definitely be "rear-ended." Common risks include your ability to work and earn income (Disability Insurance), the financial dangers of losing a spouse or loved one (Life Insurance), and the consequences of not preparing for the inability to perform activities of daily living (Long-Term Care Insurance).