Unidentified risks can ruin a plan and thus, goals: a good advisor assumes unexpected events will happen. Quantification of risks: establish the likely financial consequences of each risk. Allows you to work out best way to handle it. Strategies for handling the risks: eliminate the risk, control or reduce the risk, retain the risk, transfer the risk. Review the program: check to ensure the cover remains relevant & appropriate. Life insurance provides cover against the risks of premature death. Emotions aside, establish if anyone would be financially disadvantaged upon the premature death of a client. Heart diseases (heart attack & blocked arteries of the heart) The average life expectancy will continue to rise with each generation: advisors need to plan for a longer time frame. Life insurance policies can be extended to include cover for disability and pay a lump sum amount in the event of: total and permanent disablement (tpd); and.