Planning for and implementing financial tools to cope with life's unexpected events can keep a major loss from turning into a financial tragedy.
The sudden loss of a spouse creates not only a huge personal loss but can also be the source of a giant financial loss. We can assess the needs the surviving family would have and make recommendations on programs and life insurance plans to help ensure the family is at least financially independant.
For many, the ability to work and earn an income is our greatest financial asset. We assist clients with assessing their risks and needs in this area and recommending appropriate levels of disability insurance coverage and other adjustments.
Thankfully, most of these needs are short term in nature. But, unfortunately, some will need long term care for many years. We help you assess your potential needs and resources to determine how best to manage this risk.
Adequate health care insurance is a must for everyone. While we are not professionals in this area, we can connect clients to professionals who are and can assist with obtaining appropriate coverage as needed.
We do help clients review their policies but will also refer clients to professionals in these areas that can assist in obtaining cost effective strategies for their risks.
Long Term Care Insurance Products may not be suitable for all investors. Surrender charges may apply for early withdrawals and, if made prior to age 59 ½, may be subject to a 10% federal tax penalty in addition to any gains being taxed as ordinary income. These policies have exclusions and/or limitations. The cost and availability of Life Insurance and Long Term Care insurance depend on factors such as age, health, and the type and amount of insurance purchased. As with most financial decisions, there are expenses associated with the purchase of Life Insurance and Long Term Care insurance. Life Insurance commonly have mortality and expense charges, in addition if a policy is susrrendered prematurely, there may be surrender charges and income tax implications. Guarantees are based on the claims paying ability of the insurance company. Please consult with a licensed financial professional when considering your insurance options.
