Insurance is essential to any comprehensive financial security plan. If tragic events like death, disability or critical illness strike, insurance can protect you and your family from undue hardship. Some life insurance policies also provide tax-advantaged savings that you can draw on to achieve goals like buying a house or retiring comfortably.
I have access to a variety of insurance products that can help meet your financial security planning needs. No matter your personal situation—if you’re single or in a family; a professional or a seasonal employee; an executive or small business owner—we will work together to design a customized plan.
In the event of death, life insurance may offer surviving family members increased financial security. As a tax-free lump sum payment, it can pay for final expenses and debts, as well as provide income for the deceased’s dependents.
The advantages of life insurance include:
- An instant estate for your loved ones at a time when funds are most needed
- Death benefits that are almost always non-taxable for named beneficiaries
- Avoid probate costs if you name a beneficiary other than your estate
- Potentially offer your loved ones creditor protection through some life insurance plans
- Build tax-advantaged capital for retirement purposes or provide liquid savings through some permanent life insurance plans
Life insurance can play a vital role in your financial security plan. Needs for life insurance vary and we help navigate the complexities of family, estate, or business coverage. We can help you select coverage from a variety of life insurance options to meet the needs identified in your financial security plan - contact us today to find out how.
Long-Term Care Insurance
The need for long-term care is usually triggered when a person is unable to perform one or more of the activities of daily living, such as getting out of bed, walking, dressing, bathing, or eating. When assisted care is required, and a spouse or personal caregiver is unable or unavailable to provide it, the only option may be to hire the services of a caregiver, home health care nurse, or seek admission to a nursing home.
Long-term care insurance is designed to cover the costs of nursing home care (some policies or riders can be purchased to cover the cost of home care as well). The benefits are typically payable for a certain period of time and the premium cost is based on the benefit amount, your age, certain health factors, and the length of the waiting period before benefits are payable.
The last decade has seen an evolution in how long term care insurance is delivered. We can work with you to design a long-term care insurance plan to provide the most economical protection for your specific needs.
Lifetime income comes in many forms and depends on the needs, wants, and family legacy components of retirement. Safe withdrawal rates estimate 4% (Bengen, 1994 – “Determining Safe Withdrawal Rates Using Historical Data”) or less safe withdrawal from traditional investment assets (stocks, bonds, mutual funds, etc.) without excessive risk and principle draw-down. In retirement planning, the risks of (a) running out of monies and (b) maintaining purchasing power by keeping up with inflation are real and need to be considered.
Annuities, also sometimes called persona pension plans for self-employed, offer the ability to rely on the credit worthiness of an insurance company to offset the risk of outliving your hard-earned retirement money. An annuity can provide a lifetime income that potentially remains invested or tied to the market and, while not being drawn from, is tax-deferred while growing. The five main types of annuity solutions we utilize are:
- Variable annuities
- Fixed annuities
- Income annuities
- Index annuities
- Structured annuities
They may not be suitable for everyone but if considered in a retirement plan a properly-selected annuity can solve for assured income where traditional investments cannot.
Investors should consider the investment objectives, risks, and charges and expenses of a variable annuity carefully before investing. The prospectus contains this and other information about the variable annuity and its underlying funds. The prospectus is available from your investment professional and should be read carefully before investing.
Any product guarantees are based on the claims-paying abilities of the issuing organization.