Risk Management
Life is full of risks of one kind or another, so managing those risks is a key to long term financial success. We offer life, disability, and long-term care insurance to mitigate those types of risks, and annuities to provide lifetime income to address the risk of outliving your money during retirement.
Contact us to get started today.
Risk Management Services
Protect Your Financial Future with Appropriate Insurance Coverage & Annuity Income
Make Sure You’re Covered for Life’s Unexpected Twists
Far too often, people are just sold insurance products – they don’t really make an educated decision to purchase insurance that has a defined role within the context of their comprehensive financial plan. We believe you should only buy an insurance product when you understand how that product fits in your overall financial plan. We are first and foremost, financial planners, so we approach insurance planning from the standpoint of how insurance fits within your comprehensive financial plan, and that’s how we make all recommendations. You will never feel pressured to buy a product. After listening to our recommendations you may even be excited about the role certain insurance products can play in helping you reach your goals.
lIFE INSURANCE PROTECTION FOR YOUR FAMILY
One of the first basic insurance coverages one needs, particularly if they are married or have minor children, is life insurance. The main purpose of life insurance is to provide a death benefit to the beneficiaries if the insured were to die. The death benefit proceeds can then be used for a variety of purposes, depending on the beneficiaries’ needs and wants. For a young family, the death benefit might be used to provide enough income for the family until the children are grown and on their own. For a retired couple, the death benefit might be used to replace the loss of the deceased spouse’s Social Security or pension income.
Life insurance can also be a great alternative for creating a safe, tax-free savings vehicle for a supplemental retirement plan, while also providing death benefit protection for the family.
There are many types of life insurance policies and many different usages for life insurance strategies within the context of a comprehensive financial plan. Call us today at 404-829-4944 for a complimentary life insurance review and strategy session for your unique situation.
Managing your risk in retirement
Few retirees can afford to be “self-insured.” Proper planning and risk management can prevent the devastating effects of death, disability, or long-term care.
As part of your risk management assessment, we will review your risk exposure and determine if you have any insurance coverage “gaps” and make appropriate recommendations to fill those gaps with the most cost effective solution. We will also look for opportunities that may exist within the context of your overall financial plan for insurance strategies such as:
- Long-Term Care
- Annuities for Guaranteed Lifetime Income
- Life Insurance for Protected Tax Free Income
- Life Insurance for Spousal & Family Protection
- Life Insurance for Legacy Creation
long-term care insurance protection
Long-term care insurance covers the funding of the cost of skilled care should you need assistance with at least 2 of 6 of the “activities of daily living”, which are eating, bathing, dressing, continence, toileting, and transfer. This is typically thought of as “nursing home” insurance, but many of today’s modern policies may also cover skilled nursing care in the individual’s home as well. Long-term care insurance is usually most cost effective for mid to high level net worth individuals and families. Contact us to discuss your long-term care insurance coverage questions.
The role of annuities in risk management
Annuities are a unique insurance product that insure against a different type of risk: the risk of running out of money (before you run out of life). They do this by providing a guaranteed retirement income for the rest of your life, regardless of how long you live. However, annuities can be very confusing products to the average consumer since there are many different types of annuities, and each type of annuity serves a different purpose. The four basic types of annuities are the immediate annuity, fixed annuity, fixed index annuity, and variable annuity. As with all of our recommendations, we look at how annuities might fit into your overall financial and retirement income plan to help your reach your overall financial goals. Contact us today to see if an annuity is right for you.
Third-Party Annuity Opinion Review Service
Have you had another financial advisor recommend an annuity to you, but you’re unsure if it’s right for you? Or do you already own an annuity, and are concerned it might not be the best for you? For only a $95 fee, we’ll review the annuity you have or that was recommended to you and give you our unbiased opinion on whether the annuity is suitable for you or not.
Leaving a legacy with life insurance
For those who wish to leave a legacy to their family, friends, or charity, life insurance can be one of the most efficient vehicles to accomplish their goals. Life insurance can offer a guaranteed rate of return or competitive market rates of return, income tax-free benefits to heirs, and maximization of assets. Life insurance is an excellent way to leverage assets you may already have designated for legacy purposes into an even greater death benefit value.
Using life insurance for legacy planning is rarely a simple undertaking. Many factors should be considered, including your estate plan, taxes, your other assets, and the various beneficiaries you may want to leave a legacy to, such as family, loved ones, and your favorite charities. Contact us today to begin planning the best way to leave your legacy to the people and causes you care the most about.
Whether we like it or not, today’s tax laws are so complicated that filing even a relatively simple return can be confusing. It is just too easy to overlook deductions and credits to which you are entitled. Even if you use a computer software program there’s no substitute for the assistance of an experienced tax professional. We have a team of experienced CPA’s who combined prepare over a thousand individual returns and several hundred business returns each and every year. We know the tax laws inside and out, and make sure you’re paying the least amount of taxes that is legally possible for your situation.
Get Started Today
The first step to getting started with evaluating your insurance protection and annuity needs for retirement income is to schedule a free, no-obligation initial strategy session with Marvin Bales, CPA, CFP®. In this 30 minute strategy session (conducted by phone, Zoom call, or in-office meeting) we’ll discuss your risk protection needs, and mutually determine if we are a good fit to work together.
Contact us to schedule your initial strategy session.
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CPA Financial Planning, LLC
Phone: 404-829-4944
Fax: 770-216-2227
Email: info@cpafinancialplanning.com
Financial Planner and Investment Advisor in Atlanta
1050 Crown Point Parkway
Suite 500
Atlanta, GA 30338
Financial Planner and Investment Advisor in Peachtree Corners
3295 River Exchange Drive
Suite 561
Peachtree Corners, GA 30092
Financial Planner and Investment Advisor in Marietta
366 Powder Springs Street
Marietta, GA 30064
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