Clearwater Wealth Partners INSURANCE REVIEW SUMMARY
Wealth Management | Financial Planning | Investment Advisory Review Year: 2016 | December 12, 2016
Insurance Review Summary
Chen Household | Review Year 2016
Household Alex & Sam Chen (HH-CHEN-001)
Advisor Morgan Park, CFP® | ADV-PARK-001
Review Date December 12, 2016
Document ID DOC-InsuranceReview-2016-001
Meeting Ref MtgID-2016Q4-01
Trigger Initial engagement review — establish insurance baseline
Alex / Sam Age 33 / 32
Children Maya (age 5), Eli (age 2)
Home Status Renting — 3215 Lakeview Circle, Wayzata, MN (lease)
Event Refs GoalID-2016-01 (Retirement Readiness), GoalID-2016-02 (Education
Funding)
Coverage at a Glance
Coverage Type Key Details Primary Carrier
Life Insurance Alex $2,000,000 | Sam $1,500,000 Protective Life Ins. Co.
Disability Insurance Alex individual own-occ | Sam group LTD The Standard Group / Employer
Homeowners / Renters Active — see Section II for dwelling amounts Northfield Mutual
Auto Insurance Two vehicles, 250/500/100 liability + comp/collision Northfield Mutual
Umbrella Liability Excess liability — see Section II for limit Northfield Mutual
This document is organized in three sections: (I) Advisor Narrative — planning context and observations; (II)
Coverage Inventory — policy-level data tables; (III) Gap Analysis — open action items and recommendations.
Clearwater Wealth Partners | 801 Nicollet Mall, Suite 1200, Minneapolis, MN 55402
Page 1
Document ID: DOC-InsuranceReview-2016-001 | Confidential — For Client Use Only | Synthetic demo data — not investment/insurance advice

Clearwater Wealth Partners INSURANCE REVIEW SUMMARY
Wealth Management | Financial Planning | Investment Advisory Review Year: 2016 | December 12, 2016
SECTION I — Advisor Narrative
Purpose of This Review
This inaugural insurance review was conducted as part of Clearwater Wealth Partners' onboarding process for
the Chen household. The goal is to inventory all existing coverage, identify gaps relative to the household's
current income, liabilities, and dependents, and document recommended actions for the coming year.
Household Profile & Coverage Context
Alex Chen (age 33, software product leader) and Sam Chen (age 32, marketing director) maintain dual
incomes totaling approximately $205,000 annually. The household has two young dependents — Maya (age 5)
and Eli (age 2) — creating meaningful income-replacement and survivor-needs risk. The Chens currently
rent and carry no mortgage liability, though a home purchase is a medium-term planning goal.
Life Insurance Assessment
Both clients carry level term life policies with Protective Life Insurance Company, each purchased at the time of
this engagement. Alex's $2,000,000 30-year term policy provides approximately 15.7x his current W-2
income, in line with recommended 10–20x replacement multiples for a household with two young dependents.
Sam's $1,500,000 30-year term policy represents approximately 19.2x her current W-2 income, reflecting her
shorter earning history but equal contribution to household financial stability. Both policies name each other as
primary beneficiary and the Chen Family Revocable Trust as contingent (pending trust formation, anticipated
2019).
Disability Insurance Assessment
Alex holds an individual own-occupation disability policy with The Standard Group providing $6,500/month
(approximately 61% of gross monthly income). The own-occupation definition ensures benefit payment if
Alex is unable to perform the specific duties of his software leadership role, even if other gainful employment
is possible. Sam relies on her employer’s group long-term disability plan at 60% of salary, yielding
approximately $3,900/month. While the group plan provides adequate baseline coverage, it is not portable if
Sam changes employers. A supplemental individual policy will be revisited if her employment situation
changes.
Property & Casualty Assessment
The household carries a renters insurance policy covering personal property up to $150,000 and providing
$500,000 in personal liability coverage. A $1,000,000 personal umbrella policy supplements liability limits
across auto and renters policies. Auto insurance covers two vehicles with 250/500/100 liability limits. All P&C;
coverage is placed with Northfield Mutual and is considered appropriate for the current renter stage of the
household.
Key Recommendations
Three items are flagged for action: (1) formalize beneficiary designations to align with the anticipated revocable
trust (currently named directly to spouses); (2) review Alex's disability benefit annually as income grows with
career advancement; and (3) plan for homeowners insurance transition when a home purchase is executed.
Clearwater Wealth Partners | 801 Nicollet Mall, Suite 1200, Minneapolis, MN 55402
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Document ID: DOC-InsuranceReview-2016-001 | Confidential — For Client Use Only | Synthetic demo data — not investment/insurance advice

Clearwater Wealth Partners INSURANCE REVIEW SUMMARY
Wealth Management | Financial Planning | Investment Advisory Review Year: 2016 | December 12, 2016
The umbrella policy should be reviewed at purchase time to ensure adequate coverage for dwelling and auto
combined.
SECTION II — Coverage Inventory
Life Insurance Policies
Face Ann.
Insured Carrier Policy No. Type Beneficiary Status
Amount Premium
Protective Life PLInJn2016n 30-Year Level $2,000,00 Sam Chen (primary);
Alex Chen $2,400 In Force
Ins. Co. 4782 Term 0 estate (contingent)
Protective Life PLInCn2016 30-Year Level $1,500,00 Alex Chen (primary);
Sam Chen $1,800 In Force
Ins. Co. n4783 Term 0 estate (contingent)
Disability Insurance Policies
Elim. Benefit Ann.
Insured Carrier Policy No. Type Benefit Status
Period Period Premium
Alex The Standard DInJn2016n Individual
$6,500/mo 90 days To age 65 $3,120 In Force
Chen Group 8821 Own-Occ.
Sam Employer Group GRPnCnEM Group LTD Employer-
$3,900/mo 90 days To age 65 Active
Chen LTD PLOYER (60%) paid
Property, Casualty & Liability Policies
Deducti Ann. Pre
Policy Type Carrier Policy No. Coverage Summary Status
ble mium
Renters Northfield HOn2016n4 Personal property $150K / Liability
$500 $680 In Force
Insurance Mutual 491 $500K
Auto (2 Northfield AUn2016n44 250/500/100 liability;
$500 ea $2,800 In Force
vehicles) Mutual 92 comp/collision
Personal Northfield UMn2016n4
$1,000,000 excess liability — $450 In Force
Umbrella Mutual 493
Estimated Total Annual Out-of-Pocket
$9,250
Premium
ADEQUATE — baseline well-positioned at initial
Overall Coverage Adequacy Assessment
engagement; three action items tracked.
SECTION III — Gap Analysis & Action Items
Clearwater Wealth Partners | 801 Nicollet Mall, Suite 1200, Minneapolis, MN 55402
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Document ID: DOC-InsuranceReview-2016-001 | Confidential — For Client Use Only | Synthetic demo data — not investment/insurance advice

Clearwater Wealth Partners INSURANCE REVIEW SUMMARY
Wealth Management | Financial Planning | Investment Advisory Review Year: 2016 | December 12, 2016
Target
Priority Coverage Area Gap / Observation Recommended Action
Timeline
Beneficiary Life policies name spouse Update to trust when DOC-Trust is
High 2019
Designations directly; no trust as contingent executed (anticipated 2019)
Benefit ($6,500/mo) based on
Alex Disability Review and increase benefit amount
Medium 2016 income; will lag as income Annual
Benefit with each material income change
grows
Sam Disability — Group LTD not portable; gap if Evaluate supplemental individual
Medium Ongoing
Portability employment changes policy if Sam transitions employers
No homeowners policy; renters
Homeowners Add homeowners policy and review At
Low only; home purchase is a
Coverage umbrella at home purchase purchase
planning goal
Prepared By Morgan Park, CFP® | Review Date December 12, 2016
Clearwater Wealth Partners
Reviewed With Alex & Sam Chen Meeting Reference MtgID-2016Q4-01
Event / Trigger GoalID-2016-01 (Retirement IPS Version IPS-2016 (70/28/2)
Reference Readiness), GoalID-2016-02
(Education Funding)
IMPORTANT DISCLOSURES: This Insurance Review Summary is prepared by Clearwater Wealth Partners solely for the use of the Chen household
and is intended as a planning reference document. It does not constitute an insurance contract, policy illustration, or binding recommendation.
Coverage descriptions are summaries only; full policy terms govern. All data is synthetic and for demonstration purposes only. Clearwater Wealth
Partners is a registered investment adviser and does not sell insurance products; insurance placements are facilitated in coordination with licensed
insurance specialists. Clients should consult their licensed insurance professional and review all policy documents in full before making coverage
decisions. Past premium or coverage data presented does not guarantee future availability or pricing.
Clearwater Wealth Partners | 801 Nicollet Mall, Suite 1200, Minneapolis, MN 55402
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Document ID: DOC-InsuranceReview-2016-001 | Confidential — For Client Use Only | Synthetic demo data — not investment/insurance advice
