Asset protection is several things. It can involve strategies, sometimes insurance policies, that protect wealth, and income when there's a loss.

Protection planning can be life insurance to take care of your loved ones if a death occurs.  

There are many policies that are more than term life that provide a lot of other benefits that become assets you can utilize while living, but also protect your loved ones upon your passing. What's important is whatever you have makes sense for your estate plan.

If some type of life insurance is good for your financial plan strategy, the key is to find out if you are insurable. You always need to have them in place before you need them! It's best to apply as young as possible and as healthy as possible.

One of the benefits of life insurance is the tax-free income for you and tax-free disbursements to your beneficiaries. Many also offer critical illness or long-term care riders. We always discuss strategies to see if it's a fit for you, in line with your goals and your financial plan.