Life Insurance

In the event of death, life insurance offers 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

We can help you select coverage from a variety of life insurance options to meet the needs identified in your financial security plan.

 

Long-Term Care (LTC) & Long Term Disability (LTD) Insurance

The intent of Long Term Disability (LTD) insurance is to replace income if one of the primary “bread winners” is unable to work due to illness, injury, or accident for a long period of time. Most employers offer some level or insurance coverage to address this, however it is important to measure this against the actual needs of the household to determine if it might be necessary to purchase additional personally owned disability coverage. For most business owners and specialized professionals, these types of policies are a very important component of a comprehensive financial plan.

The intent of Long Term Care (LTC) insurance is to replace income and cover medical care expenses if you should need professional medical attention either at home or in a designated facility for an extended period of time. These policies would apply if/when you are unable to perform any of a predetermined Activities of Daily Living (ADLs).Some employers offer LTC policies to their employees, however it is normally not an automatic enrollment and requires the employee to sign up and pay extra from their post-tax earnings. It is important to measure this employer provided insurance against the actual needs of the household to determine if it might be necessary to purchase additional personally owned LTC coverage. For most households, this is a very important component of a comprehensive financial plan, however it can be very expensive. Many LTC policies are also “use it or lose it” by nature, offering no return of premiums if the coverage is never used.