Navigating Healthcare Costs in Retirement on Long Island
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Insurance Planning on Long Island
A clear look at whether the coverage you already own still fits your plan today.
Does a Wealth Manager Help With Insurance?
Investment Insight Wealth Management reviews your insurance coverage as part of your financial plan and coordinates with a licensed insurance professional. We do not sell insurance, and we are not paid on any policy placed through our referrals.
Insurance is the part of your plan built for the worst day. Year after year you pay for it and nothing happens, which is the point. Many people put their coverage together over time, a policy here and a policy there, usually through different agents and at different stages of life. Whether it all still works together is a different question.
Robert J. Sullivan has more than 30 years of experience in financial services. He goes through what you already own and tells you plainly where it matches your plan and where it doesn't. We do this for households across Nassau and Suffolk Counties, where a family's biggest assets may be a house and a business before the investment accounts.
What Does an Insurance Review Cover?
An insurance review covers every policy in your name and what each one is doing for you now. We include this work in our comprehensive financial planning engagement, billed at up to 1.5% of annual household income with a $3,750 minimum. We are not paid a commission for any of this work.
Coverage Review
We go through each policy you hold and what it would do for your family if you ever needed it, so you can see where things stand.
Gap Identification
You may be well covered in one area and thin in another. We flag anywhere the plan looks exposed, across life, disability, long-term care, and liability coverage.
Coordination With a Licensed Professional
If a change makes sense, we introduce you to a licensed professional who handles the quotes and places the policy.
Fit With the Rest of Your Plan
Your coverage should work alongside your investments and what you intend to leave behind. We coordinate with your CPA or attorney where that's relevant.
Because we are not paid on any policy you buy, the review can stay focused on what your plan needs.
How Does Insurance Fit With Your Retirement and Estate Plans?
Insurance is the risk-management side of a financial plan, meant to keep everything else workable if something goes wrong. Life insurance can support a surviving spouse's retirement income, and it often appears in estate documents your attorney drafted years ago. For business owners, disability coverage can help keep a family steady through a year with no income. We review insurance alongside your retirement and estate planning, since changes to one may affect the others.
Insurance Planning FAQs
Does Investment Insight sell insurance?
No. Investment Insight Wealth Management does not sell insurance and is not paid on any policy placed through our referrals. We review your coverage as part of your financial plan and refer you to a licensed insurance professional when a policy is needed. That professional handles the quotes and places the coverage.
Why would a financial advisor review insurance they don't sell?
Reviewing insurance without selling it helps keep the advice objective. We are a registered investment adviser compensated through advisory fees, and we are not paid on any policy placed through our referrals. A review may well conclude that your current coverage is appropriate and nothing needs to change, which is a perfectly good result.
What happens if the review finds a gap in my coverage?
If the review turns up a coverage gap, we flag it and talk it through with you first. Any change is your call. When you want to move forward, we introduce you to a licensed professional who handles the quotes and places the policy, and we stay out of the transaction itself.
Is insurance planning included in your fee?
Yes. Insurance planning is part of our comprehensive financial planning engagement, billed at up to 1.5% of annual household income with a $3,750 minimum. The insurance review carries no separate charge. Full fee details are on our financial planning page.
Can insurance planning help me save money?
An insurance review may surface coverage you’re paying for and no longer need. Policies bought at one stage of life may outlive the reason you bought them, and premiums keep going out. The same review may find you’re underinsured somewhere, which carries a different kind of cost. We look at both and tell you what we find.
Do I need to change insurance agents to work with Investment Insight?
No. If you have an agent you trust, we’re glad to work with what you already have in place. The review looks at your existing policies regardless of who wrote them. We make an introduction only if you want one and there’s a reason for it.
Let’s Look at What You Already Have
Insurance planning on Long Island starts with an honest look at the policies you're already paying for. If you can't remember exactly what your oldest one covers, that's reason enough to take a look.
A first meeting is a conversation about your situation and whether we're a fit.
Phone: (516) 249-0060
Email: hello@myinvestmentinsight.com
Results depend on individual circumstances. Investing involves risk, including possible loss of principal. Not intended as tax or legal advice; consult a qualified professional regarding your specific situation.
Estate planning involves legal matters; IIWM coordinates with your estate attorney and does not provide legal services.
Insurance planning is provided as part of IIWM’s advisory services. IIWM does not sell insurance products and is not paid on any policy placed through its referrals. Policies are placed through a licensed insurance professional.
