The Facts
  • 84% of Americans have had at least some experience with nursing homes — either as a patient or a visitor, and 46% say a family member or close friend has been in a nursing home in the past three years.  (Senior Journal, July 2005.)
  • Medicare generally doesn’t pay for long term care.  (, 2005.)
  • 48% of today’s workers are not confident in their ability to pay for long term care in retirement.  (Retirement Confidence Survey, Employee Benefit Research Institute, 2004.)
  • By 2030, 20% of all Americans, or about 70 million people, will have passed their 65th birthday.  The average 75-year-old has three chronic conditions and uses five prescription drugs.  (Executive Summary, The State of Aging and Health in America, Centers for Disease Control, 2004.)
The Risks
  • You have a one-in-96 chance of your house being damaged by fire. Surely your home is covered.
  • You have a one-in-five chance of your car being damaged in an accident. You wouldn’t drive without auto insurance.
  • But you have a 50% chance that you will need long term care at some point in your life. So why wouldn’t you insure your independence?

(2004 Field Guide, National Underwriter, 2004.)

The Costs
  • Two-thirds of single people and one-third of married couples exhaust their funds after just 13 weeks in a nursing home.  Within two years, 90% will be bankrupt.  (2004 Field Guide, National Underwriter, 2004.)
  • The average cost per year of nursing home care is $57,700.  (Kiplinger’s Retirement Report, March 2004.)
  • The median cost of care in an assisted living facility is $30,000 per year.  (Adult Day Care Services, AARP, February 2004.)
  • By 2030, the average nursing home stay will cost approximately half a million dollars ($468,960).  (Kiplinger’s Retirement Report, March 2004.)

When you change jobs or retire, there are four things you can generally do with the assets in your employer-sponsored retirement plan:

  1. Leave the money where it is
  2. Take the cash (and pay income taxes and perhaps a 10% federal penalty tax if you are younger than age 59½ )
  3. Transfer the money to another employer plan (if the new plan allows)
  4. Roll the money over into an IRA

Rolling over from one qualified plan to another qualified plan allows your money to continue growing tax-deferred until you receive distributions in retirement.

We can help you determine if a rollover is the right move for you.

If you determine to cash out of the IRA, we can help you find suitable vehicles to help you reach your retirement income goals.
IRA accounts have become one of the largest types of assets inherited by beneficiaries. If you don’t anticipate needing your IRA money in retirement, you may wish to consider a legacy planning strategy to reduce taxes and increase the payout your beneficiaries will receive upon your death.

You may want to use some of your IRA assets to provide your beneficiary(ies) a regular stream of income while leaving the balance of IRA assets invested for tax-deferred growth. The result may yield substantially more money paid out over the course of your beneficiary’s lifetime. We can help you evaluate your financial situation to determine if IRA legacy planning may be the best means for ensuring a long-lasting inheritance for your heirs.

The 401K Fallout Video

How Does Indexed Universal Life Insurance Work?

Indexed universal life (IUL) insurance is the same as traditional universal life except for how the interest is credited. It’s based partly on the upward movement of a stock market index. Therefore, growth in the value of the policy is potentially higher.

  • Interest based partly on a market index
  • Protected from the market’s downside
  • Flexible coverage throughout your life
What Can IUL Do for You?

An indexed universal life insurance has the benefits of traditional universal life plus the potential for greater growth in your policy value.

Gives You Upside Potential
An indexed universal life insurance policies credit interest based partly on the upward movement of a major stock market index, so when the market does well, so do you. Over the life of the policy, this could mean more cash value and more supplemental retirement income. And the tax-deferred benefits of a traditional universal life policy still apply.

Gives You Downside Protection
You also get a guaranteed minimum interest rate with some indexed universal life policy. So while you’re taking advantage of the market going up, you’ll never suffer losses due to the market going down.

What Are the Other Benefits of Having an IUL?

An Indexed Universal Life (IUL) insurance policy gives you the same flexibility and safety of other universal life policies.

Puts You in Control
As your needs change, your policy can change, too. You can change the death benefit, increase or decrease your premiums, and add options or riders to fit your needs.

Transfers Your Wealth
An Indexed Universal Life policy can help you leave a legacy to pass on to your heirs by giving them as much of your estate as possible, while making sure your tax and other obligations are satisfied.

Builds Your Savings
Indexed universal life insurance provides a tax-deferred way of accumulating a cash value at competitive interest rates.

Gives You Access to Funds
You can make withdrawals or borrow against, the cash value in your policy. Your Indexed universal life policy can also be used as collateral for securing an outside loan, letting you tap the equity in your policy for a variety of needs: education, retirement and emergencies.

Protects Your Family
The death benefit gives you peace of mind knowing that your loved ones will not face financial hardship should you die. And the value can grow with your family and your needs.

For more information, visit our Indexed Universal Life Insurance FAQ.

What is a Mortgage Protection Plan?

One of the main life insurance products that we offer is Mortgage Protection Insurance. Mortgage Protection Insurance is a product that homeowners can use to completely cover their biggest and most important asset: their home. With Mortgage Protection Insurance, you won’t have to worry about being denied due to preexisting medical conditions, as this coverage requires no medical exam.

Whether it’s a death benefit to cover the full amount of your home loan amount or monthly disability coverage for your mortgage payment, you will have peace of mind knowing that your family will not have to take on the extra burden of covering a house payment. Contact us today, and one of our local mortgage protection advisers will work with you to create a customized mortgage protection plan with rates that fit your needs and most importantly, your budget.

Popular options available to include with your mortgage protection insurance plan:

  • Return of Premium (receive all your premiums back)
  • Disability Coverage to pay your mortgage payment
  • Critical Illness, Chronic Illness, Terminal Illness
Do I Need Mortgage Protection Insurance?

Your home is probably your biggest asset and largest investment you will make. If your family’s income decreases drastically due to your death and you only have ordinary life insurance, they could be left with very little of the life insurance pay-out after paying off the mortgage. Mortgage protection insurance is specifically there to cover the mortgage so that the life insurance pay-out can help your family get back on their feet.

Your Mortgage Protection Insurance can be used in a variety of ways. It can be paid out in one lump sum to pay off your home mortgage entirely, or you can choose to have the plan paid out in monthly installments, as mortgage payment protection insurance, should you become unable to work. You can also add your children to the plan so they can convert the insurance to their own coverage when they leave the nest.

Mortgage Protection Insurance is a risk free investment. Your premiums will be returned if you do not use the coverage, and we guarantee your premiums, so they will not increase as you age. Contact one of our advisers today so you and your family can relax knowing that, in the event of the unexpected, your home is covered.

Do I Already Have Mortgage Protection on My Loan?

Most of the time, what you have is PMI (private mortgage insurance) already added in when you take out your loan. Homeowners are required to have this insurance if the balance of their loan is more than 80% of the original property value.

However, this mortgage insurance does not protect you, but protects your lender if you quit making your mortgage payments. Many homeowners believe they have protection because of this insurance and leave themselves open to tragic circumstances should something happen to their family or loved ones.

Why Should I Get Mortgage Protection Insurance Instead of Using the Life Insurance I Already Have?

Life insurance is meant to provide for living expenses for a long period of time should a provider pass away. Without Mortgage Protection Insurance, you would have to pay off your biggest debt using a large sum of your life insurance, drastically reducing the amount for your future living expenses.

Whether you are approaching retirement or are in retirement the concern for most is the thought of not having enough income to afford the lifestyle you currently enjoy or eventually enjoying the lifestyle you’ve waited and worked so hard for. Either way, retirement income has posed a major challenge for most individuals; one that we feel a sense of duty to help you successfully overcome.

There are three major phases of Retirement Income Management:

  • The Accumulation Phase
  • The Distribution Phase
  • The Preservation or Transfer Phase

We will take you through each phase and will partner with you to uncover the various opportunities, options, and concerns included in each phase and walk you through the process of:

  • Determining how much retirement income you will need
  • Identifying your “income for life” sources
  • Estimating how long your current income plan may last
  • Calculating how much additional income you may need
  • Evaluating your additional income sources

When developing a plan, we will look at all the major elements involved in income planning, including growth, income streams, flexibility, and preservation and work with you to develop a plan that satisfies your interests, goals and objectives.

As an independent insurance firm, we are able to utilize dozens of insurance carriers to find the best rates and product solutions to fit your specific needs. We also offer complimentary reviews on your existing annuity and life insurance contracts.