Life insurance is such a versatile tool. It can be used as collateral to secure a loan, protect your partnership or your business, ease wealth transfer and help your legacy to live on long after you are gone. But so many of these Life Insurance applications are focused on entrepreneurs. Entrepreneurship comes with its fair share of uncertainty. One bad…
I love this question, especially when it comes to me from my high and ultra-high-net-worth clients: But Rickson, do I really NEED Life Insurance? You see, for the ultra-high net worth individual ‘need’ is evaluated differently. It’s not an affordability conversation. There is no opportunity cost because when you’ve got unending means and resources, tapping into one opportunity doesn’t mean…
When I get asked what I do, I tell people I’m a Life Insurance Advisor to High and Ultra High Net Worth Entrepreneurs. A common follow-up question is: Do entrepreneurs use Life Insurance differently? After having specifically served this segment for over 10 years now, I can confirm that entrepreneurs, especially High Net Worth entrepreneurs do indeed use Life Insurance…
I’ll go straight into a short but rather unfortunate case study. In 2003, I got introduced to Ritesh, a businessman who needed to procure Life Insurance cover worth US$ 2-3 million. The bank had asked Ritesh to provide some form of collateral to be able to continue extending the credit facility that they had been extending to him for the…
What if you could transform your body or your business in 90 days? No, I’m not about to pitch you the newest fitness-business hybrid version of P90X… But I do want to share an experience and some thoughts with you. At the time of writing this article, I’m just getting to the end of an elite body transformation program. My…
After years of sharing my content across different platforms, there’s one thing I never tire of hearing. And that is the phrase: I didn’t know THAT about Life Insurance! So, I thought I’d compile a short list of all the things you don’t know you don’t know about Life Insurance. Some of these Life Insurance nuggets might help you to…
A few weeks ago, I wrote about the C-suite Dilemma. The article focused on the major personal finance challenges that C-suite executives face when they are ready to step down from the upper echelons of the corporate world. The article led to a few executives in my network reaching out to me to discuss their particular situations in closer detail.…
I’ve got two rather personal stories for you today. They both stem from the same set of circumstances but have completely different outcomes. In one case, I lost my client’s trust and over time, regained it. In the other, I lost it and never got it back. Both stories are emotionally laden for me. They take me back to one of the hardest points in my career so far.
Over the course of my career, I’ve successfully exited two partnerships. One of these partnerships was with my brother. We ran a thriving Insurance Brokerage together. We knew how important it was to get the right business protection in place. And so, my brother and I got around to the difficult conversation that so many business partners don’t want to…