Life Insurance & Risk Management

Planning for life’s “what-ifs”

Financial success isn’t just about growing your wealth — it’s about protecting it. At Cox, Klugh & Company, we help families prepare for life’s unexpected turns with thoughtful, right-sized insurance strategies that keep your loved ones and finances secure.

Planning for what you can’t predict

Confidence through preparation

An illness, accident, or untimely loss can disrupt even the strongest financial plan. That’s why insurance and risk management are essential parts of lasting financial stability. We review your full financial picture — income, debt, dependents, and goals — to determine the right coverage for your situation.


Our process focuses on clarity, not complexity. We help you understand your options, compare costs, and make confident decisions about protecting your family’s future.


By integrating insurance planning into your overall strategy, you gain confidence knowing your plan is designed for resilience in all seasons. Our goal is simple: protect what matters most without paying for what you don’t need.

Beyond life insurance — a complete approach

Coverage for every stage of life

We go beyond basic policies to create a comprehensive protection strategy. That may include reviewing current coverage, exploring disability or long-term care options, and coordinating everything with your broader financial goals. Every recommendation we make is advice-driven, not product-driven — ensuring it serves your best interests.


When needed, we also collaborate with your insurance providers or other advisors to ensure your protection plan stays efficient and cohesive. This approach helps avoid gaps, eliminates redundancies, and ensures your coverage evolves as your life does.

A framework for financial security

Covering every “what if” that matters

Life Insurance

We calculate how much coverage you truly need based on your income, debts, and family goals. Whether term or permanent life insurance makes sense, we focus on right-sized, affordable protection.

Long-Term Care Planning

For those nearing retirement, we explore how to handle potential care expenses. That might include traditional long-term care insurance, hybrid life/LTC options, or a self-funding strategy.

Effective risk management considers both short-term needs and long-term responsibilities. These four areas help keep your financial plan strong through life’s changes:

Disability & Income Protection

Your ability to earn is your greatest asset. We evaluate your employer’s benefits and may suggest supplemental coverage to ensure your income continues if illness or injury prevents you from working.

Umbrella Liability Coverage

For clients with substantial assets, we recommend affordable umbrella policies to extend protection beyond standard auto and home limits. It’s a simple but powerful layer of defense for your net worth.

Insurance & Risk Management FAQs

Clear answers to common questions

  • How much life insurance do I really need?

    The right amount varies by person. We look at your income, expenses, family size, and goals to calculate a personalized coverage amount. For most families, that includes enough to replace income for several years, pay off major debts, and fund college or childcare. This ensures your family’s financial security without over-insuring.

  • Should I choose term or whole life insurance?

    Term life insurance is usually the best fit for most families because it’s affordable and covers high-need years, like while raising children or paying a mortgage. Whole or permanent life insurance can make sense in specific cases — for example, for estate planning, lifelong dependents, or tax diversification. We’ll outline both options so you can make an informed decision.

  • My employer provides some life and disability insurance — is that enough?

    Employer coverage is a good start but often not enough on its own. Most employer-provided life insurance equals about one year of salary, while most families need several years of income replacement. Similarly, disability plans usually cover 60% of pay and may not include bonuses. We assess your workplace coverage and fill any critical gaps.

  • What is umbrella insurance, and do I need it?

    Umbrella insurance adds an extra layer of liability protection beyond home and auto policies. It’s especially valuable if you own property, have investments, or are at risk for lawsuits (for example, if you have a pool or teen drivers). Because it’s inexpensive for the coverage it provides, we recommend it for most clients who have built meaningful assets.

  • How can I plan for long-term care costs?

    Nursing care or assisted living can be costly, sometimes exceeding $80,000 per year in South Carolina. We’ll discuss how to prepare — whether through savings, long-term care insurance, or hybrid life/LTC policies. Our goal is to protect your retirement assets and relieve your family of uncertainty about future care costs.