It’s an all-too-common scenario: a high-net-worth individual ends up taking a “set-it-and-forget-it” approach to life insurance where they end up with a pre-fabricated, unspecialized policy and fail to take advantage of its true potential: a tool for income protection, estate and legacy planning and asset protection.
The truth is, the complexity of the UHNW estate requires a more sophisticated and prudent approach to your insurance. Your life insurance contract should be the result of careful strategy, and needs to be managed and reviewed annually – no differently than any other investment you own.