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Risk Management Risk management is one of the most important, yet most ignored, areas of people’s financial situations. Without an income protection strategy, ongoing expenses, bills, and financial commitments may not be able to be met upon loss of income due to illness or accident; without a debt coverage strategy assets or the personal home may need to be sold to repay debt and provide for medical expenses upon diagnosis of medical traumas such as cancer, heart attack, or stroke; and, without a life cover strategy, financial dependants may not have enough funds to provide for their ongoing income needs and expenses upon a providers untimely death. A personal risk management strategy can address these issues in a tax-effective and cost-effective manner. For businesses, a business risk management strategy can protect the business from the disability, illness, or death of a key person, guarantor of business debt, or partner in the business, thereby ensuring the business can continue when struck with these uncontrollable events.
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