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.

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