Emergency mitigation planning is the application of lifetime financial planning which is utilized as a result of sudden occurrence of unforeseeable events. Mitigation means to reduce the negative impact of anything that causes harm.
It is nearly impossible to time events in life that do not have any definitive occurrence timeline. Plus, it is not a general human instinct to think about catastrophic life events. Some examples of such catastrophes are health insurance limits being maxed out in a severe accident, damage to uninsured expensive belongings, being a victim of a natural disaster, the unfortunate death of a beloved one, the occurrence of a recession in the economy, and many more.
In such situations, the financial risk profile of any individual is bound to change and the contingency plans need to be altered. This leads to the necessity of a revision in financial planning to be initiated to mitigate the risks.
How would you feel if something you do not have control over disrupted your life plans? The cost of doing nothing in such a situation is usually expensive.
At WealthOK, we offer our clients emergency mitigation planning services with immediate effect to minimize the critical consequences and bullet-proof the finances of our clients.
To have valuable and constant support in emergency situations in life, get in touch with us today!