Assets held in retirement accounts already possess an inherent level of protection against legal liability, which should be considered when evaluating insurance needs.

“if you are worried about legal liability, there is some degree of protection that assets in a 401k or assets in to a lesser extent IAS and other forms of retirement accounts.”

Paying for umbrella insurance is generally a worthwhile way to protect a high net worth if the policy cost is justified by the level of risk exposure.

“So, if this stuff is all worth protecting and you have $2 million, is it worth $900 a month to protect $2 million? Yes. No. And what you're saying is no, it isn't.”