Broker Check

Insurance Solutions

Protecting yourself, your loved ones or your business against unexpected events is a fundamental aspect of wealth planning. Closing the gap on potential risks can be tricky without a comprehensive plan and process that seeks to methodically evaluate all potential risk factors. That’s why risk analysis is an integral part of our ongoing process.

We work with many of the nation’s leading insurance providers to tailor coverage to your specific needs and add the features that are most important to you and your family.  Our individual case design experience provides insurance solutions that address the risks associated with your specific financial plan.

An important service we provide to our clients is auditing current policies to make sure they are performing as intended.  Circumstances often change and policy features may no longer be needed.  Coverage may be shifted to better meet the your current needs.

Insurance plays a role in various planning strategies, including:

  • Covering current debts and replacing household income
  • Estate Liquidity and equalization in distributions
  • Family Business Continuation
  • Planning for special needs
  • Charitable planning strategies
  • Long term care and disability needs

Life Insurance in Retirement Planning

For many higher income clients, the need to find additional ways to save for retirement has become one of their biggest concerns. If the client’s employer offers it, qualified plans such as 401(k) plans provide an excellent way to save for retirement. But annual contributions to these plans are limited (to $18,500 in 2018) and they may fall short of many clients’ needs.

High-income earners are disadvantaged in that the portion of their income that can be set aside in a traditional tax-advantaged manner is smaller. These clients need to find additional ways of saving, especially since the length of retirement has increased along with average life expectancy. In these situations, life insurance may be a solution. 

Life insurance can be structured to provide supplemental retirement income on a tax-advantaged basis during retirement. In the years before retirement, premiums accumulate cash values that grow tax-deferred. Throughout a client’s lifetime, a tax-free death benefit provides protection to the their family should premature death occur. During retirement years, the cash values can be used for tax-free supplemental retirement income through a combination of tax-advantaged withdrawals and loans.1 

Key Benefits:

  • Income-tax-free death benefit to protect heirs at death, replacing lost income
  • Tax-deferred growth of policy cash values over lifetime
  • Tax-free distributions from the policy during retirement1
  • Creditor protection of cash values in many states
  • Unlike qualified plans, life insurance has no government-imposed annual contribution limits
  • No mandatory withdrawals from insurance policies at age 70½
  • Withdrawals from policies prior to age 59½ are not subject to early withdrawal penalties1
  • Adds to the overall tax diversification of retirement income sources
  • Life insurance provides flexibility to tailor the design for individual needs

1. Policy should not be structured as Modified Endowment Contract (MEC). Policies classified as MECs may be subject to tax when a withdrawal or loan is made, and a federal tax penalty of 10% may apply to loans or withdrawals taken prior to age 59½.

This material contains only general descriptions and is not a solicitation to sell any insurance product or security, nor is it intended as any financial or tax advice. For information about specific insurance needs or situations, contact your insurance agent. This article is intended to assist in educating you about insurance generally and not to provide personal service. They may not take into account your personal characteristics such as budget, assets, risk tolerance, family situation or activities which may affect the type of insurance that would be right for you. In addition, state insurance laws and insurance underwriting rules may affect available coverage and its costs. Guarantees are based on the claims paying ability of the issuing company. If you need more information or would like personal advice you should consult an insurance professional. You may also visit your state’s insurance department for more information.

Types of Personal Life Insurance

Types of Personal Life Insurance

Term or Variable

Universal or Whole

Guaranteed Issue

Return of Premium


Types of Business Life Insurance

Types of Business Life Insurance

Buy/Sell Agreements

Key Person Life Insurance

Corporate Owned Life Insurance

Business Overhead Expense

Assess Your Life Insurance Needs
This calculator estimates how much life insurance you would need to meet your family's needs if you were to die prematurely.
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Preparing for the unexpected can make all the difference if your family relies on your income.

Information and interactive calculators are made available to you as self-help tools for your independent use and are not intended to provide investment advice. We cannot and do not guarantee their applicability or accuracy in regards to your individual circumstances. All examples are hypothetical and are for illustrative purposes. We encourage you to seek personalized advice from qualified professionals regarding all personal finance issues.

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