INSURANCE & RISK MANAGEMENT
We help successful individuals and business owners safeguard income, preserve assets, and ensure family continuity by integrating life, disability, and long-term care insurance into your broader wealth strategy, all with objective, fiduciary advice.
LIFE INSURANCE
LONG-TERM CARE INSURANCE
DISABILITY INSURANCE
Coverage Lines We Specialize In
At Boyce & Associates, we don’t sell insurance, we help you make smarter decisions about it. As fiduciary wealth advisors, our role is to assess where risk exposure exists in your financial life and recommend the most efficient, cost-effective coverage to address it. Here’s where we focus:
LIFE INSURANCE
Life insurance is a financial safety net that provides a tax-free lump sum payment (called a death benefit) to your beneficiaries if you pass away. It is primarily used to replace lost income, pay off debts, fund children’s education, cover final expenses, and ensure that your family or business remains financially stable in your absence.
- Term Life Insurance: This is the most straightforward and cost-effective form of life insurance. It provides coverage for a fixed term—such as 10, 20, or 30 years—and is typically used to protect your income during your working years. If you pass away during the term, the policy pays out to your beneficiaries. If not, it expires with no residual value.
- Permanent Life Insurance: This type of insurance offers lifelong coverage and includes policies like Whole Life, Universal Life, Variable Life, and Indexed Universal Life. It also builds cash value that can be accessed tax-efficiently in the future. We typically recommend permanent policies for clients who will lose a spouse’s Social Security or pension income upon their passing, or for high-income earners looking to supplement retirement income or manage estate taxes.
Please consider the investment objectives, risks, charges, expenses, and your need for death-benefit coverage carefully before investing. The prospectus, which contains this and other information about the variable life policy and the underlying investment options, can be obtained from your financial professional. Be sure to read the prospectus carefully before deciding whether to invest.
The investment return and principal value of the variable life policy are not guaranteed. Variable life sub-accounts fluctuate with changes in market conditions. The principal may be worth more or less than the original amount invested when the policy is surrendered. Any guarantees offered are backed by the financial strength of the insurance company.
Indexed Universal Life Insurance is an insurance contract that, depending on the contract, may offer a guaranteed annual interest rate and some participation growth, if any, of a stock market index. Such contracts have substantial variation in terms, costs of guarantees and features and may cap participation or returns in significant ways. Any guarantees offered are backed by the financial strength of the insurance company, not an outside entity. Investors are cautioned to carefully review an indexed universal life insurance for its features, costs, risks, and how the variables are calculated.
DISABILITY INSURANCE
Disability insurance provides income replacement if you’re unable to work due to an illness or injury. It’s designed to protect your earning power, the foundation of your financial life, so you can continue to meet expenses, support your family, and preserve your savings even if your career is temporarily or permanently interrupted.
Most private disability insurance plans replace about 60–66% of your pre-tax income, and if you pay the premiums yourself, the benefits are typically tax-free.
We help assess the right level of protection based on your current income, profession, and financial obligations, and advise on policy features like waiting periods, benefit duration, and own-occupation definitions, especially important for professionals and business owners.
LONG-TERM CARE INSURANCE
Long-term care insurance covers the cost of extended care services needed when you can no longer perform basic daily activities independently, such as bathing, dressing, or eating, due to aging, illness, or cognitive decline. This care may be provided at home, in an assisted living facility, or in a nursing home.
These expenses are typically not covered by standard health insurance plans. Without proper coverage, long-term care can quickly deplete retirement savings or force families to make difficult financial decisions.
We help clients evaluate whether traditional standalone long-term care policies or hybrid policies (that combine life insurance with long-term care benefits) make the most sense, based on age, health, budget, and estate planning goals.
Understanding Insurance and Risk Management Process
Insurance and risk management is the process of protecting your income, assets, and financial future from life events that could severely derail your long-term goals. These include the financial impact of premature death, disabling illness or injury, and the rising cost of long-term care. Without a strategy in place, these risks can force families to liquidate assets, disrupt retirement plans, or leave businesses vulnerable. This service is built for:
Professionals and high-income earners who want to secure their income and lifestyle
Families looking to preserve their home, education funding, and future plans
Business owners who must safeguard company continuity, key personnel, and succession
Pre-retirees and retirees concerned about protecting wealth from long-term care costs
At Boyce & Associates, we treat insurance as a core pillar of your financial plan. We start by identifying the specific risks that could threaten your wealth strategy. Then, we design customized insurance solutions that match your life stage, family needs, and business priorities.
Risk Management Philosophy
We have a general lines agency as part of our firm which gives us unbiased access to multiple insurance carriers and structures, giving us the flexibility to recommend the most suitable, innovative strategies without being tied to any provider.
Unique Benefits of Partnering with Us
Navigating insurance shouldn’t feel like being sold to, it should feel like being understood. At Boyce & Associates, we’ve seen too many clients come to us frustrated by poor advice and high-cost policies that didn’t serve their goals. Here’s how we do things differently:
Independent Advice Without Sales Pressure
We are fiduciary advisors, not insurance agents. We’re not tied to any insurance company, so we’re free to recommend only what fits your actual needs. No sales quotas. No commissions influencing our guidance. No pushing expensive permanent life insurance when term would do the job better.
Full Transparency on Fees and Policy Structure
You will always know exactly what you’re paying and why. We explain the full cost of each policy, including how it’s structured, how much goes to actual insurance coverage versus cash value, and any commissions involved. No hidden fees. No fine print. Just clear, honest disclosure.
Customized Insurance Plans, Not One-Size-Fits-All
We don’t use templated packages. We evaluate your income, dependents, tax exposure, and long-term goals to design a protection plan tailored to your life, whether that means covering estate taxes, shielding retirement assets from long-term care costs, or ensuring business continuity with key person coverage.
Ongoing Reviews to Keep Coverage Aligned With Your Life
We don’t stop at placing a policy. We conduct annual reviews to account for changes in your income, net worth, family needs, or business structure. For example, we may recommend reducing coverage as your mortgage is paid down, adjusting for new beneficiaries, or replacing outdated policies with more cost-efficient options.
Let’s Make Sure Your Insurance Supports Your Financial Plan
We’ll help you evaluate your existing policies, clarify what protection you actually need, and align your insurance strategy with your overall financial goals: clearly, objectively, and without any sales pressure.
Tax/Legal Disclosure
Boyce & Associates Wealth Consulting does not offer legal or tax advice. Please consult the appropriate professional regarding your individual circumstance.