FAQ

Below are some questions we see quite often so please take a look.  We will discuss and review these and other topics in our Articles, Newsletters, Videos, and Flipbooks in greater detail under the RESOURCES TAB, so make sure to come back and visit us often as we constantly Educate and Inform our Clients and Future Clients!  

Do I really need a Life Insurance policy if I have one at work?

You should always own Individual Life Insurance as you never know what can happen with your employment, and you may decide at an older age to increase coverage and may suffer from higher premiums due to age, health, or other factors.


Should I buy Life Insurance as a business owner?

Yes, absolutely!  This is know as Key Man Insurance or Business Owner Insurance and can also be done to fund a Buy Sell agreement amongst business partners.  This is a very detailed arrangement which will simplify buyouts, and protect your family.


Should I buy Long Term Care or Disability polices considering how expensive they are?

We offer Hybrid Policies that offer Life insurance with Long Term Care, so that you don't throw away premiums for long term care.  We also offer Long Term Care as a rider on many policies which may save you lots of money in premium.  We do recommend individual Disability Policies as well depending on the situation.  We will guide you every step of the way!


Are annuities safe?

There are many different types of annuities.  Some annuities are designed for safety, while others are designed for income or growth.  You need to review the exact type of annuity you are buying and understand the risks or the protections offered.  We work with all the major carriers and offer many different types of annuities.


How are Annuities and Insurance policies taxed?

Life insurance proceeds are typically passed along to their heirs income tax free.  There are instances where they may be purchased by businesses or in retirement plans where that would change.  There are also other tax implications for estate taxes.  As far as annuities go, they are typically tax deferred.  There are IRS rules which would apply to all policies including the early withdrawal penalties of 10% pre age 59.5, however there are also ways to create income streams which would be exempt.  There are also strategies to spread out the amount of gains over a number of years. We can help guide you, but you would need to speak to your tax professional for your specific situation.


Do you offer Medicare Advantage and Supplemental plans?

Yes, absolutely!  We offer all types of health insurance including Obamacare/ Exchange.  We offer Medicare recipients supplemental and drug prescription plans as well.  We offer Medicare Part B, Part D, Part F, and Part G.