Insurance Services

We plan for the more predictable events using strategies involving stocks, bonds, real estate. Our main focus is seeking to grow or maintain your nest egg, and our calculations of when that nest egg will be ready are based on reasonably predictable expectations that the stock market will likely increase in value over time; although past performance is no promise of future results. But some things in life are unexpected… unpredictable… and those are the things we insure.

We have all seen or heard of people whose plans go to waste due to a debilitating and costly disease or disability or a sudden death of a bread winning partner. This is why we stress insuring those parts of our life that you cannot possibly control; no one likes to think about it, much less talk about it. So let’s talk about it together, let us do the thinking, and you just focus on what you can control, you will sleep better at night. Note that the benefits associated with each type of insurance are based on the claims paying ability of the underlying issuer.

Life Insurance

There are different kinds of life insurance, including term and universal life. Life insurance is particularly important for the parents of young children, but it can also play an important role in an estate plan. Also, due to recent changes in the insurance industry, a number of older policies can sometimes be exchanged for products that better suit your current needs. Reviewing your policy regularly will reassure you that you are getting the maximum death benefit for the premiums you are paying.

Term insurance is a type of life insurance that pays benefits only when the insured dies within a specific period. If the insured lives beyond the end of the period, no benefits are payable. Term insurance has no cash value, and premiums traditionally rise with age.

Universal life insurance allows the holder to vary the amount and timing of premiums and to change the death benefit, based on the policyholder’s changing needs and circumstances. It is generally considered more flexible than traditional whole life insurance and includes a “cash value” savings feature that may allow certain premium funds the opportunity to earn tax-deferred interest.

Insurance for Long Term Care

Traditional long term care insurance policies usually function much like car insurance – they require you to pay premiums, but do not accumulate any value. And you can’t get any of the money you paid back, even if you never use any of the policy’s benefits.

We therefore recommend a different kind of product to our clients: a universal life insurance policy with a long term care rider. It accumulates value that you can tap into in the event that you require long term care. If, however, you end up not needing that kind of care, it also provides a death benefit to your heirs. In addition, the total cost of your LTC is known at the time you purchase the policy, not after your death.  Long term care policies may be part of an existing contract, but others may carry additional fees, charges, and restrictions. 

*  Guarantees are based on the claims paying ability of the issuing company.