Enhancement, Not Replacement
Most of our clients are doing their own investing or working with an investment advisor. We are not looking to replace anyone, but rather to enhance what you are already doing by teaching you and/or your investment advisor how to create a "Better Balance" without increasing the amount of money you are currently saving/investing. This also relieves the pressure on your investments (and investment advisor) to achieve the high rates of return you would otherwise have to achieve create the same income. That being said, we work with trusted professionals who specialize in investments if their services are needed. Our focus is on the power of Actuarial Science (insurance) and how it relates to your investments to increase your overall protection and wealth. We specialize in the following: life insurance, disability income insurance, and fixed/income annuities.
There are two main types of life insurance - Term and Permanent. Term Life Insurance offers affordable coverage for a specified period of time. Permanent Life Insurance offers a permanent tax-free death benefit, as well as an equity component called "Cash Surrender Value." Permanent Life Insurance can play a significant role while you are alive and greatly enhance your retirement income. There are many variations and benefits of both Term and Permanent policies so it's important to understand how they work and fit into your overall strategy.
Disability Income Insurance
The phrase "Disability Insurance" is often misleading, but "Unable to Work Due to an Illness or Injury Insurance" is a bit verbose. If you earn an income and that income funds your life (home, food, car, fun, insurance, retirement savings, etc.), what would happen if that income stopped? Even if your employer offers you a group long term disability plan, chances are it only protects 60% of your base salary, or about 50% after taxes. An individual long term disability policy can help cover the gap, protect your retirement plan contributions, and it goes wherever you go.
Fixed Annuities (guaranteed growth and/or income)
Perhaps you have heard that annuities are bad. When you hear this, the topic is often variable or indexed annuities. We're talking about fixed annuities, income annuities in particular. These types of annuities provide guaranteed income for as long as you want. In fact, if this sounds like a pension, it's because most pensions use income annuities to pay their benefits. They are largely regarded as the best way to generate income in retirement. They are not without some tradeoffs, but if you plan ahead properly, you can account for these tradeoffs and significantly increase your retirement income and peace of mind with income annuities.