1700 South El Camino Real,
Money management is about more than just accumulating and investing your assets — you also have to protect those assets.
Insurance helps protect your assets or your income at all life stages—whether you get life insurance to help your family pay the bills if you die early, disability insurance if you get sick or injured and are unable to work, homeowners insurance to help repair your home and replace your possessions after a disaster, auto insurance to fix your car after an accident and provide liability coverage, or health insurance to cover your medical expenses.
A comprehensive Financial Plan will evaluate your financial situation, identify gaps in protection, and address your insurance needs. For more information on our insurance application process, click here.
In financial planning, life insurance is purchased for several reasons: (1) to provide cash to the insured's family for daily living expenses, (2) to provide cash for potential death taxes and estate expenses, and (3) to provide a shelter from income taxes (for beneficiaries), potential estate taxes, or gift taxes (for insureds). In order to ensure that your beneficiaries receive the maximum benefit from life insurance policies on your life, you must structure ownership of these policies to minimize income and potential estate taxes.
A comprehensive policy generally covers the costs of round-the-clock nursing home care, including that given at custodial, intermediate, and skilled levels. The policy may also cover any expenses associated with assisted-living residences, provided the facility is state certified. Adult day-care centers are often covered as well, as is respite care, which is the temporary professional care you'll need if your regular caregiver is on vacation. Policies may also pay for at-home care provided by registered nurses; respiratory therapists; physical, occupational, or speech therapists; registered dietitians; or licensed social workers.
Disability income insurance is insurance that pays benefits when you are unable to earn a living because you are sick or injured. Like all insurance, disability income insurance is designed to protect you against financial disaster. Most disability policies pay you a benefit that replaces part of your earned income (usually 50 percent to 70 percent) when you can't work.
Comparison of Life Insurance Policies
Do you know the difference between Term, Whole Life, Universal Life, Variable Life & Variable Universal Life Insurance?
Tax Rules Applying to Insurance
In general, when considering the income tax treatment of insurance, topics such as the tax-deferred buildup of cash value, the taxation of withdrawals, proceeds, loans, and dividends should be considered.
Medicaid & Long-Term Care Insurance
To qualify for Medicaid, both your income and the value of your other assets must fall below certain limits (which vary from state to state). In determining your eligibility for Medicaid, a state may count only the income and resources that are legally available to you for paying your medical costs.