Insurance Analysis

A big part of keeping your dream alive is making plans to protect the financial situation of your loved ones, particularly your dependents. We believe that sound planning begins by building a strong base of financial security. We have access to a full spectrum of insurance products designed to help you manage the risks of premature death, disability and long-term care. We can provide guidance in choosing the type of coverage that is appropriate for you and your family.

Life Insurance

Life insurance is often purchased to replace income that potentially can be lost with the death of a wage earner. Life insurance policies work from the same basic idea - they help protect the financial security of your family in the event of your untimely death.

Life Insurance Can Help with Estate Preservation

A life insurance policy on your life can help provide your future heirs with funds to pay the expenses of settling your estate without liquidating valuable assets. It also can help replace the income that your family may lose as a result of your death. A life insurance policy is one way to ensure that money will be available to your future heirs for their immediate or long-term financial needs.

If you're the owner of a business, life insurance proceeds can help supply the funds to pay estate taxes and administration expenses, eliminating the possibility that the business will have to be sold to meet these needs. You also can use life insurance to fund a buy-sell agreement for the purchase of your business interests by other stockholders, partners, or your corporation.

You can exclude insurance proceeds from your estate by having a trust or the individuals who will benefit from the proceeds purchase and own the policy. A trust may offer several advantages, so you'll want to consider all your options.

Life Insurance Can Be Part of a Deferred Compensation Plan

Employers often take advantage of life insurance to provide deferred compensation, typically to key employees. The employee is promised benefits at retirement or a lump-sum death benefit, should the employee die before retirement. Employer-owned life insurance on the employee's life provides the employer with the cash to help meet its obligation to the employee.

Disability Income Insurance

Disability income insurance provides supplemental income to an individual whose earnings have been impacted due to an accident or illness. If you're an individual employee, disability insurance may help replace part of your income until you get back on the job. If you're a business owner, coverage may help pay day-to-day operating expenses if you're unable to work. It also helps provide funds to purchase a disabled partner's share of a business through a buy-out agreement or compensate for profits lost and expenses incurred if replacing a disabled key individual.

Long-term Care Insurance

Long term care insurance provides you with day-to-day assistance when a serious illness or disability renders you unable to care for yourself, whether physically or cognitively, for a lengthy period of time. Long term care can be provided at home or at nursing, assisted living or alternate care facilities.

Long term care insurance can help provide a sense of security. You can gain maximum protection against the potentially high costs of long term health care while helping to preserve your resources.

Decisions about long term health care are seldom easy. You'll need to consider several basic factors in making your choices for long term coverage. Your eligibility and long term care rates are based on your age, sex, health type and amount of coverage selected.

An effective long term care plan can be tailored to suit your needs with supportive protection benefits such as home health care protection. This is when a home health care aide cares for you up to eight hours a day and your primary care giver, such as a spouse or a child, cares for you the remainder of the time. In addition, you may want to consider inflation protection, which ensures that your benefits keep pace with nursing home costs.