Life Insurance
Life insurance ensures your dependents’ financial security should you pass away. Defining your reasons for purchasing coverage, such as income replacement, mortgage payoff, or inheritance creation is crucial for selecting appropriate coverage. While formulas exist to calculate necessary coverage, your specific goals dictate the amount needed.
For income replacement, multiply annual expenses by your remaining working years. To cover future expenses like weddings or college, calculate the total cost of those goals. These calculations provide a starting point, but consulting a financial advisor is highly recommended for personalized guidance.
Life Insurance Solutions
Term Life Insurance
Provides financial protection for a specified period by guaranteeing a death benefit if the insured passes away within the policy term. Term life insurance is commonly used for income replacement and to help protect one’s home, family, and business. It is an affordable way to secure coverage for a specific period.
Universal Life Insurance
A flexible, permanent life insurance option that can provide guaranteed death benefit protection, cash value accumulation, or both. Policyholders have the ability to adjust premiums and coverage over time to fit their needs.
Whole Life Insurance
A permanent life insurance policy that offers guaranteed death benefit protection and guaranteed cash value accumulation. Whole life policies provide lifelong coverage with level premiums and potential dividend payments (if applicable).
Disability Insurance
Individual Disability Insurance
Designed to provide a monthly benefit to help replace lost income when an individual becomes too sick or injured to work. This coverage helps ensure financial stability during periods of disability.
Business Overhead Expense (BOE) Insurance
Helps business owners maintain operations by reimbursing eligible business expenses if they experience a disabling injury or illness.
Disability Buy-Out Insurance
Funds a buy-sell agreement in the event a business owner becomes permanently disabled, ensuring a smooth transition of ownership.
Retirement Protection Disability Insurance
Designed to help individuals continue saving for retirement by contributing to a retirement plan if they become unable to work due to disability.
Long-Term Care (LTC) Solutions
Traditional Long-Term Care Insurance
Provides financial support to help cover the cost of care services when an individual needs assistance with daily living activities, such as bathing, dressing, or eating. This coverage helps protect assets while ensuring access to quality care.
Linked Benefit Plans
Combines life insurance with long-term care benefits, allowing policyholders to access the death benefit to help cover long-term care expenses.
Hybrid Long-Term Care Plans
Uses a life insurance policy or annuity contract as the foundation for long-term care coverage, providing flexibility and leveraging existing assets for potential care needs.
Annuities
Fixed Annuity
Provides a guaranteed interest rate over a specific period, offering stable and predictable growth with tax-deferred benefits.
Indexed Annuity
Earns interest based on the performance of a market index (e.g., S&P 500), while also offering protection from market downturns.
Single Premium Immediate Annuity (SPIA) / Deferred Income Annuity (DIA)
Designed to convert a lump sum into guaranteed income, providing immediate or deferred payouts to support retirement income planning.
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