Innovative Financial Solutions

Frequently Asked Questions

Life Insurance


Life insurance is designed to be there to take care of a need or build cash for a need. Since it is still the most tax advantageous vehicle available today, it has many uses during your working years as well as being able to provide tax free retirement income for your retirement years while at any time providing tax free death benefits. Can be purchased on a group or individual basis with riders available for long term care.

Some examples of the uses of life insurance include: Family security, estate planning, legacy planning, charitable giving, buy/sell agreements, key man coverage, deferred compensation, tax free retirement income.


Disability Insurance


Disability insurance is designed to provide income for you to take care of the necessities of living should you become disabled and unable to continue productive work that provides a paycheck. If structured properly, the benefits are tax free. Can be purchased on a group or individual basis.

Some examples of the uses of disability insurance include: Family security, Income replacement, buy/sell agreements, key man coverage, business overhead expense coverage


Employee Benefits


Medical/Dental/Vision/Life Insurance, ADD( Accidental Death & Dismemberment), STD (Short Term Disability), LTD (Long Term Disability) coverage is coverage that can be provided by an employer on a group/employee benefit basis as a benefit or offered as an optional payroll deduction basis or both.


Medicare Supplement, Medicare Advantage & Part D-(Prescription Drug Coverage)


Medicare Supplement and Part D coverage is available to all individuals over age 65 on Medicare Parts A & B and for those under 65 that are on Social Security Disability and Medicare Parts A & B.  


Long Term Care


Long term care is designed to provide benefits should you lose two activities of daily living. These activities include eating, bathing, dressing, toileting, transferring (walking) and continence. A substantial amount of benefits are paid annually to those under age 65 who have lost at least two of their activities of daily living due to accident or sickness (ie:stroke). These plans allow you to select the type of care and give choices for your loved ones. They provide for home health care, community care, assisted living and nursing homes.

These are available for individuals on an annual premium, single premium, or as riders to life and annuity contracts. Old deferred annuities transferred to new qualified contracts will allow accumulated non taxed deferred interest to be used for long term care benefits tax free.

Companies can provide long term care benefits on a selective class basis with premiums tax deductible and benefits tax free.


Fixed Annuities


Annuities are a contract only offered by insurance companies that offer tax deferred accumulation and guaranteed lifetime income. They can have fixed interest rates or be tied to an index such as the S&P. There are many options. They can also have long term care riders attached.

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