First your monthly tax savings referred as your "Benefit Bank" is determined.This is the dollar amount you can use to purchase your qualified insurance benefits.
In determining how to best use your "Benefit Bank" towards obtaining qualified insurance benefits, we will want to acquire these benefits in order of importance/value to your specific needs.
Your "Benefit Bank" will first be used to obtain your Gap & Life insurance. Then, what remains of your "Benefit Bank" would be used to obtain Injury Benefit & Critical Illness supplemental coverage. Then what if anything, left in your "Benefit Bank" can be applied towards optional Dental Insurance.
Example of average benefit package
Benefit Bank
$160
This comes out of your tax savings, you're not paying extra for below benefits. This is what you use to obtain your benefits.
Gap Insurance
$70
This will pay your health insurance deductible and co-insurance
Life Insurance
$20
This is a required benefit.
Injury Benefit
$30
Pays up to $4,000 per injury
Critical Illness
$20
Pays out lump sum benefit after diagnoses of a critical illness
Dental Insurance
$20
Pays up to $2,000 annually
When you click on the Application you will pull up your life insurance application. Fill out your basic information in the blue fields. Once we receive your application we will complete it for you along with the rest of the benefits and send it back to you to review, approve, and sign. When reviewing we can customize your benefits to meet your specific needs.
Preservation of capital – keeping money safe by purchasing
high grade bonds and money market securities.
Current income – investments that pay interest and dividends
(bonds, preferred stocks, high yielding common stocks, income funds, etc.)
Growth of invested capital – buying stocks of growth companies that
reinvest money instead of paying dividends.
Performance Statics – examined may include:
Total Return – gains and income
Total Yield – income
Investment Strategies
Diversification – Investors can minimize the risk that a particular security might decrease in value by diversifying investments (buying several different securities or funds at once).
NOTE: Diversification reduces business risk, but does not eliminate market risk or interest risk.
Defensive Investment Strategy – investing a large portion of the portfolio in bonds and a small portion in equity securities.
Aggressive Investment Strategy – investing a large portion of the portfolio in equity securities and a small portion in bonds.
Financial Status
Yearly income
Expenses – Ex: mortgage, college expenses, insurance etc.
Discretionary income – Income that is not needed for necessities (money that can be risked)
Assets and liabilities – What the investor owns as compared to what he or she owes
Assets: cash, securities, cars, properties, etc.
Liabilities: rent, mortgage payments, taxes, car payments, bills, etc.
NOTE: Net worth = Assets – Liabilities
Liquid assets – cash, liquid securities, etc.
Insurance needs – Life, Health, etc.
Participation in retirement programs – IRAs, Keogh, Pension Plans, etc.
Tax status – Tax bracket. Does the investor have the need for additional write-offs?
Risk Tolerance
Short and long-term liquidity needs – Child going college, buying a house, retiring soon, etc.
Fluctuations in value of invested capital – Can investors handle the ups and downs of the market?
Income level changes – Expecting a raise, retiring soon, etc.
Purchasing power of income and/or principal – Can investors handle inflation risk if keeping money safe?
We specialize in 401(k) Rollovers, Health Insurance, Dental Insurance, Vision Insurance, Life Insurance, Medicare Advantage and Medicare Supplements.