Financial Solutions That Can Make Your Life Better

Live the Life You Want—Today and In the Future

At Aurum Insurance Services, we’re committed to a singular goal: making our clients’ lives better. For individuals and business enterprises, we pursue this goal by working in conjunction with your financial planning team to first understand your goals, dreams and fears, and then design custom insurance-based financial solutions to address them.

Asset and Risk Management—Goals-Based Asset Allocation

Applying a goals-based approach to asset allocation matches the appropriate funding asset to an identified financial goal. This process of “asset/liability matching” starts with what the asset is for and when it is needed, then measures its effectiveness by how it compares to other alternatives in addressing the major roadblocks (risks), including:

  • The drain of excessive income taxes on asset growth and future income
  • Market volatility and potential loss of capital
  • Longevity risk...dying too soon or living too long
  • Creditor risk…protecting assets from the claims of creditors
  • Health risk…the potential negative impact of health care costs in retirement

The Role of Life Insurance as a Financial Asset—A Paradigm Shift

While life insurance is most often viewed as an expense, when held for life, permanent insurance is a unique financial instrument with characteristics not available in any other financial asset or cash accumulation strategy. It can be designed to focus on policy cash value as a current asset or policy death benefit as a legacy asset. As an important component of an overall financial plan, when properly designed and aligned with various personal and/or corporate objectives, it can play a major role in achieving financial success.

INDIVIDUALS WE SERVE

  • Current or former business executives and professionals
  • Entrepreneurs
  • Athletes and entertainers
  • Company employees

Working with the financial planning team, we focus on the proper utilization of life insurance in a goals-based asset allocation to help achieve overall financial objectives and mitigate risk.

Solutions for Individuals:

  • Strategies to maximize spendable retirement income
  • Funding the cost of higher education
  • Funding health care costs in retirement
  • Legacy strategies to maximize assets transferred to heirs and charity
  • Family death benefit protection

BUSINESS ENTERPRISES WE SERVE

  • Public and private companies
  • Professional practices (e.g., medical, legal)
  • Nonprofit organizations (e.g., hospitals, credit unions, universities)
  • Financial institutions (e.g., banks, insurance companies)

Our focus is on the design and funding of ownership transitions and executive compensation and benefit plans to help attract, retain and reward key executive talent.

Solutions for Business Enterprises:

  • Supplemental executive retirement plans (SERPs)
  • Business succession planning and buy-sell funding
  • Insurance-based retirement plans
  • Non-qualified deferred compensation plans
  • Incentive bonus arrangements
  • Split dollar life insurance
  • Key person indemnification

President – Terry Bork, CLU, ChFC

Terry Bork is a Chartered Life Underwriter and Chartered Financial Consultant. He has served in several executive positions over the span of his 40-plus-year insurance and financial services career. Past positions include Agent and District Agent with Northwestern Mutual and General Agent with Mass Mutual. He also served as President and Founder of Dawson Financial Services, a member of the Dawson Companies, a diversified financial services firm specializing in insurance, wealth management and employee benefits. Terry was also President of Strategic Resource Group, an executive benefits firm specializing in ownership transition and deferred compensation plans for public and private companies.

Terry graduated from Bowling Green State University with a degree in finance. Past and present professional affiliations include membership in the Association of Advanced Life Underwriters, National Association of Insurance and Financial Advisors, the Society of Financial Services Professionals and the Estate Planning Council of Cleveland.

Terry’s community activities have included the Planned Giving Council for the Cleveland Orchestra and Cleveland Museum of Art. He also served as a board member for the Cleveland International Piano Competition and the Cleveland Institute of Music. Terry, together with his wife, Kay, started The Interfaith Hospitality Network of Cleveland and has been involved in several charitable organizations in Naples, Florida.

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