Insurance 101

1. The Health Care/Health Insurance Reform Act of 2010, brings lots of questions from the General Public. This agency stands ready to provide answers to those questions, to eliminate any confusions, and to keep people compliant with the Law. As with all forms of insurance, life, annuity, disability, long term care, critical illness, and all the rest, the basic objective of government and private insurers, along with the regulatory agencies, both State and Federal, is to spread the risk by creating pools of funds to provide for those experiencing losses unexpected at future times undetermined, and in amounts unknown. Our objective is to clarify all forms of coverage and to enable individuals, families, and businesses to obtain all the facts in order to make informed decisions most beneficial to them.

2. Annuities are a form of insurance which can be used to fund everything from non-tax qualified retirement savings plans, 401(k)s, Profit Sharing plans, IRAs, SEPs, and most any kind of group and/or individual plan for the conservative client. The special qualities of the annuity are 1. tax- deferred growth and 2. lifetime income which cannot be outlived, even paying income to the annuitant’s beneficiaries. They are guaranteed and insured as to principle and minimum interest in any and all cases.

3. Due to the complexity of these subjects, it takes a trained professional to guide the client through these processes.

4. It is important for the client, personally or in business or retirement, to utilize the services of other trained professionals, such as CPAs and attorneys.

5. Special consideration needs to be given to long term care insurance. This kind of health insurance can be used to conserve living benefits, capital, and income, as well as to be utilized as an estate planning, conservation, preservation tool.

6. It is critical for clients to gain full understanding of their wants, needs, and requirements on behalf of themselves, families, business, work, and retirement. Implementing the solutions, with proper and able assistance, is the pathway to our client receiving the job well done. Periodic review naturally follows.

7. Life Insurance is a very special case. There are so many usages of this coverage that there is even an advanced college diploma leading to the professional designation of Chartered Life Underwriter(CLU) which I have acquired. This coverage can be used to provide funds for individuals and families to make certain that there are sufficient monies available in cash and income when an income earner dies. The same goes for protecting business interests. Examples include providing the money when needed the most for business succession plans and to insure key employees in favor of the business and that person’s family in event of that person’s death. Life insurance, properly owned and arranged by a professional, can be utilized to provide the funds to clear the estate(financial and taxable worth) of very successful individuals to pay income, estate, gift taxes on behalf of the holdings instead of from the holdings, a very valuable technique. Life insurance can be made available to make available the money for final expenses when someone dies. The list of uses goes on and on and a licensed and trained professional is the one to bring these needs, requirements, and wants to the attention of individuals, business owners, and retirees for solution.