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WEALTH MANAGEMENT | FINANCIAL PLANNING
Insurance and Risk Management
Aligning your entire wealth plan. For high-net-worth families, risk management is about much more than market volatility.
There are risks to income, health, longevity, property, business interests, and even reputation. Insurance can play an important role in addressing some of these risks—but only when it is coordinated with your overall wealth, tax, and estate strategy.
The Problem
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Many successful investors already own a variety of insurance policies:
Life insurance from different stages of their career
Disability coverage connected to employment or a prior advisor
Umbrella liability coverage layered on top of property and casualty policies
Long-term care coverage in some form—or none at all
Policies owned inside trusts, businesses, or legacy entities
Yet common questions remain:
“Do I actually need all of this coverage?”
“Are the right risks covered at the right levels?”
“How do these policies interact with my estate, tax, and investment strategy?”
“Are there gaps I’m not seeing—or overlaps I’m paying for unnecessarily?”
Typical challenges Heirloom sees when reviewing existing structures include:
Fragmented decisions – Policies purchased over decades from different agents, without a single, updated risk framework.
Coverage that no longer matches goals – Insurance designed for earlier stages of life (young children, building a business, high leverage) that may no longer fit current needs.
Unclear ownership and beneficiaries – Policies owned by individuals, entities, or trusts that no longer align with estate and legacy plans.
Underappreciated liability risk – Inadequate personal or professional liability coverage given asset levels and exposure.
Confusion between insurance and investment – Policies used as investment vehicles without a clear understanding of costs, benefits, or alternatives.
Heirloom’s Approach to Insurance & Risk Management
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Our Approach
1. Holistic Risk Discovery
The process begins with understanding your life, not just your policies. Heirloom looks at:
Family structure and financial dependents
Career or business exposure and key-person risk
Lifestyle, properties, and major assets
Existing estate and legacy intentions
Current income sources and obligations
In parallel, the team gathers details on your existing coverage, typically including:
Life insurance (term, permanent, and any policies held in trusts or entities)
Disability income protection
Long-term care coverage, if applicable
Personal liability and umbrella policies
Property and casualty policies at a high level
Any specialty or business-related coverage connected to your role or company
The goal is to see your risks and protections in context, rather than as isolated contracts.
Our Approach
2. Coverage and Gap Analysis
Once the full picture is assembled, Heirloom analyzes how your current coverage lines up with your actual risks and goals. This often includes:
Comparing death benefit levels to income needs, debt, and legacy objectives
Reviewing disability and income protection relative to current earnings and lifestyle
Assessing whether long-term care risk has been meaningfully addressed or intentionally retained
Evaluating liability coverage limits and structure in light of net worth and exposure
Identifying gaps where significant risks may be underinsured or uninsured
Highlighting overlaps where multiple policies may be addressing the same risk unnecessarily
This is a planning exercise, not a sales presentation. The focus is on understanding trade-offs and priorities—what you are protecting against, what you are choosing to self-insure, and whether that balance is intentional.
Our Approach
3. Integration With Your Wealth, Tax, and Estate Strategy
Insurance does not exist in a vacuum. Heirloom evaluates how your coverage interacts with:
Your investment plan – How much risk your portfolio is taking, and whether insurance is being used to protect against events that could force unfavorable investment decisions.
Your tax picture – The potential tax treatment of premiums, benefits, and policy structures, in coordination with your tax advisors.
Your estate plan – Ownership and beneficiary designations, the role of trusts, and whether policies support your legacy and liquidity objectives.
Business and entity structures – Buy-sell funding, key-person coverage, or other arrangements relevant to your role as an owner or executive.
Where appropriate, Heirloom coordinates with your attorney and CPA so that risk management, tax planning, and estate planning are all pulling in the same direction.
Important note: Heirloom does not provide legal or tax advice. Strategies are reviewed and implemented in coordination with your existing tax and legal professionals, and outcomes depend on individual circumstances.
Our Approach
4. Recommendations and Strategy Design
After analysis, Heirloom presents candid findings in plain language, including:
Where coverage appears appropriate and aligned with your goals
Where adjustments in type, amount, or structure may be worth considering
Which risks you may be intentionally or unintentionally self-insuring
Options for simplifying outdated or redundant policies
Potential recommendations may involve:
Keeping existing coverage but clarifying its role within the plan
Adjusting coverage levels or terms based on current needs
Restructuring ownership or beneficiaries to better align with your estate strategy
Exploring alternative solutions with your existing insurance professionals if changes are warranted
Heirloom’s role is to help you make informed decisions. The firm does not have a product quota and does not rely on commissions from insurance sales.
Our Approach
5. Implementation Support and Coordination
If you decide to make changes, Heirloom helps coordinate:
Conversations with your current insurance agents and carriers
Updates to ownership, beneficiaries, and integration with trusts or entities
Adjustments to your financial plan and investment strategy reflecting new protections or premiums
Communication across your advisory team so everyone is working from the same risk framework
The objective is to ensure that any changes are deliberate, documented, and fully integrated into your broader plan—rather than a series of one-off policy updates.
Outcomes / Results
Heirloom does not present insurance and risk management as a way to eliminate risk or guarantee outcomes. Life, health, business, and markets all involve uncertainty.
The practical benefits clients typically experience include:
A Clearer Picture of Risk
A consolidated view of the major risks you face and how they are (or are not) currently addressed
An understanding of what you’re protecting, what you’re insuring, and what you’re choosing to self-insure
Less worry about “unknown unknowns” in your protection strategy
More Intentional Coverage
Policies that exist for clearly defined reasons, not just because they were purchased long ago
Coverage levels linked to your actual needs and goals, not generic rules of thumb
Better alignment between your insurance, investment, tax, and estate strategies
Reduced Complexity and Redundancy
Fewer overlapping or duplicative policies, where appropriate
Cleaner ownership and beneficiary structures
Simpler documentation for family members and future advisors
Better Preparedness for Life Events
While no strategy can prevent difficult events, a thoughtful risk management framework can:
Help reduce the financial impact of certain unplanned events
Provide clearer guidance for you and your family during stressful moments
Support more confident decision-making about work, retirement, giving, and legacy
Is Heirloom's Insurance & Risk Management for you?
Heirloom’s Insurance & Risk Management service is particularly valuable for:
The practical benefits clients typically experience include:
High-net-worth and ultra-high-net-worth families
with multiple properties, complex balance sheets, or significant visibility and liability exposure.
Executives and professionals
whose income and benefits are tied to a single company or industry.
Business owners and entrepreneurs
whose personal, business, and insurance structures are intertwined.
Families with multi-generational or philanthropic goals
where insurance may form part of liquidity, equalization, or legacy strategies.
Investors already working with a wealth manager
who feel that insurance and real-world risks are not being addressed with the same rigor as investments.
If you recognize your situation in any of these descriptions—and you want your risk management strategy to match the sophistication of your wealth plan—Heirloom’s approach is designed for you.
FAQs
Q: How does Heirloom approach insurance and risk management differently than most advisors?
Heirloom approaches insurance and risk management as a planning function—not a sales function. The firm does not sell commission-based insurance products and does not receive compensation for recommending specific policies. Every recommendation is evaluated within the context of a comprehensive financial plan, ensuring that insurance decisions are made solely in the client’s best interest.
Q: Does Heirloom believe annuities are good or bad?
Heirloom does not take a blanket stance that annuities are always good or always bad. Instead, existing annuities are carefully reviewed to determine whether they actually serve a purpose within the client’s plan. In some cases, an annuity may be appropriate to keep—particularly if it offers strong guarantees that cannot be replicated elsewhere. In other cases, annuities may have been sold without a clear rationale, which is often where problems arise.
Q: What common insurance mistakes does Heirloom see when new clients come in?
Two of the most common issues are being oversold into annuities and being underinsured on life insurance. Many clients cannot explain why they own a particular annuity or what role it plays in their plan. On the life insurance side, coverage often fails to keep pace with rising income, growing families, or evolving goals—leaving loved ones financially exposed if something were to happen.
Q: How does Heirloom evaluate life insurance needs for clients?
Life insurance is evaluated based on income, dependents, lifestyle, and long-term goals, not generic rules of thumb. Heirloom works with independent third-party insurance specialists to survey the broader insurance market and present options, while remaining fully objective in the recommendation process. The goal is to ensure coverage evolves as a client’s life and responsibilities change.
Q: How does insurance planning tie into early retirement and long-term risk management?
Insurance decisions are closely tied to broader planning goals, including early retirement. For clients who retire before Medicare eligibility, healthcare and insurance costs can be substantial and must be modeled into the plan in advance. Heirloom integrates these expenses into the financial plan so clients understand how insurance impacts cash flow, taxes, and long-term sustainability—eliminating surprises later on.
If you are unsure whether your current coverage is appropriate, redundant, or missing key risks, Heirloom can help bring everything into focus.
Schedule A Strategy Session with Our Team
This initial conversation is designed to understand your goals, current situation, and priorities. You’ll have the opportunity to ask questions, explore how Heirloom’s integrated approach works, and determine whether a longer-term relationship makes sense—without pressure or obligation.
Our Services
A coordinated approach to managing investments, planning, and cash flow, designed to bring clarity and confidence to your financial life today and over time.
Tax strategies integrated with your broader wealth plan, helping inform decisions, improve efficiency, and support long-term outcomes through coordinated planning.
Contact
6400 S Fiddlers Green Circle
Suite 1970
Greenwood Village, CO 80111
3200 Cherry Creek S Dr.
Suite 130
Denver, CO 80209
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