Calculate Your Personal Liability Limit

So... how much are you willing to spend to protect your "Nest Egg" In 1988, a 1 million excess liability policy cost $125, today its $150, so still modestly inexpensive. However, the need for most affluent, successful families is 3-10 million. Seems to me if i advised a client 3 mill was $500, or 10 mill is $1300, that's a great buy to have the use of the insurance carriers money rather than using your assets for defense cost and possible settlement on a personal liability situation.

Trust me they happen, Liability- lawsuits in this sue happy country, you know it could be you.

Bottom line, it may never happen, but if it does just once, its the best money you will ever spend to protect what you have worked your entire life to build.

In the end, i would be a limit that exceeds or equals your net worth, because that is what is at risk. If your worth 5 or 10 mill, buy it, so you use the carriers money rather than yours

I hear retired clients say, "I'm not working, so do i need excess liability", absolutely, you are actually more at risk, because you have mad your last paycheck, so you are more dependent on not loosing that nest egg!

More to follow, check back in a few days, thinking my thoughts here

#clientsatisfaction #customerengagement