While we understand the importance of investing and building wealth, we also want to make sure you don’t put your family or your assets at risk. Proper insurance planning protects your wealth and your family.  We will conduct a thorough review of your insurance and advise you of potential coverage gaps, because our goal is to help you and your family keep the wealth you’re building.

Life insurance may be the most obvious protection you need as a wage earner with dependents. But there are other insurance products that can protect your financial future such as Fixed Index Annuities and Long Term Care insurance. 

Much like purchasing homeowner’s insurance for your house, you want to protect your other assets as well. Your biggest asset is your ability to earn a paycheck. That’s where life and disability insurance come into play. You may already have some coverage through an employer, but we will work with you to ensure you’re adequately insured should the need arise.

As Medicare does not provide for long term care coverage, expenses for long term care can quickly drain the wealth you’ve worked so hard to accumulate, which adds financial strain to an already difficult situation. Fortunately, you can use insurance to protect your assets and should you require long-term care services. 

During your retirement years, Fixed Index Annuities can provide an lifetime source of income in addition to Social Security while also providing protection from risk of loss to your account value due to market performance. Permanent life insurance is an asset you can borrow or withdraw from as needed, but you can also use the cash value of the policy to continue paying the premiums to keep the coverage.

As Investment Advisor Representatives, we will work with you to sort through the different options and help you decide what type of coverage makes sense for your situation. If you’re on a budget and have young dependents, a term life policy may be a better fit. If you have the option to invest and build some cash value, universal life insurance may be the preferred insurance option. 

We’re here to help you understand what types of insurance are available to you, so you can make the best decision for you and your family. As fiduciaries it is our responsibility to provide recommendations that can help to protect you, your family, and your wealth, which is why we take the time to understand and analyze your financial situation before making recommendations about insurance

How Can I Use Life Insurance in My Retirement Planning?
Permanent life insurance has a cash value that accumulates over the years of investing in it. You can use the cash value of your life insurance policy to supplement your retirement income. You can even borrow against your policy if you don’t want to deplete the cash value. Just know that if you use the cash value of your life insurance policy to pay for living expenses, the death benefit might be reduced.

What Role Does Insurance Play in Financial Planning?
Insurance is part of financial planning, because without the right insurance coverage, you could be putting your family's financial future at risk. You can use life, disability, and long-term care insurance to provide for yourself and your family. Life insurance and annuities can generate an income during your retirement years. 

Can I Have an Annuity and Life Insurance?
Yes, you can have both. In fact, they serve different purposes. A fixed index annuity is a great way to handle retirement income distributions to receive a regular monthly income. With life insurance, you may have a term or permanent insurance policy. A term life policy includes a death benefit, but only for a pre defined number of years. Permanent life insurance includes a death benefit and a cash value component, allowing you to build a nest egg while protecting your family. 

Our Investment Advisor Representatives welcome the opportunity to review your insurance policies with you and identify options that will benefit you. We want to help you protect what you have worked so hard to obtain. Call us today to schedule an appointment and discuss your insurance needs.