Insurance - Pawn of Asset Protection

Feb 18, 2024 · 57s
Insurance - Pawn of Asset Protection
Description

Insurance policies are like the pawns on the chessboard of your asset protection strategy. They provide an essential line of defense, but they cannot protect your assets alone. When you...

show more
Insurance policies are like the pawns on the chessboard of your asset protection strategy. They provide an essential line of defense, but they cannot protect your assets alone.

When you play chess, pawns provide a first line of defense and support your more powerful players, like the Queen and the Rook. But pawns are vulnerable and easily defeated. Insurance policies are the pawns in your asset protection strategy. They provide an essential first line of defense, but they rarely prevail alone. Exclusions are the first weaknesses of your policies. Read your insurance policies carefully to see what claims they exclude or will not cover. Policy limits are the second weakness of insurance policies. A policy may have, for example, a limit of $2 million. If a potential creditor knows that you have much more than $2 million worth of assets vulnerable to being seized, then the creditor will not settle for the policy limits. But if you have more powerful asset protection structures that make your assets difficult to find or reach, then the creditor will be more likely to settle for insurance limits. The pawn of insurance is essential, but it won’t protect your assets alone.
show less
Information
Author WCAT Radio
Organization WCAT Radio
Website -
Tags

Looks like you don't have any active episode

Browse Spreaker Catalogue to discover great new content

Current

Podcast Cover

Looks like you don't have any episodes in your queue

Browse Spreaker Catalogue to discover great new content

Next Up

Episode Cover Episode Cover

It's so quiet here...

Time to discover new episodes!

Discover
Your Library
Search