Stress Test LPAs
Stress Test LPAs (Lifestyle Protection Analysis™) are designed to give you clarity on how prepared you and your spouse are for catastrophic events. While never fun to contemplate, it is a process that can provide great direction and peace of mind. The aim is to go through this process in simulated ways and then act to mitigate risks and know limits.
For instance, it is normal for us to simulate the untimely death of one (the main financial contributor) or both spouses in a marriage. If the main bread winner had an untimely death, stopping earned income but perhaps triggering life insurance proceeds; are enough financial resources available for that surviving spouse and children significant enough to maintain a desirable standard of living?
What about disability scenarios? Long-term care scenarios? Longevity scenarios and so on. Our tools are designed to help you prudently assess and stress test a variety of scenarios so you can proactively act with confidence. Ultimately, the goal is to eliminate or mitigate your exposure to such risks. We can help you sort through these matters and make proactive decisions to have reasonable protections in place.