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Insurance / Annuities

Providing income and financial protection for you now, and caring for the needs of your loved ones in the future. 

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Our Mission:

1. Provide income when needed most by you and/or your loved ones - Example #1 - mortgage life protection (not through the banks) - pays off home in event of death. Protects your ability to have insurance later in life if bills still need paid. ** Even with mortgage foreclosure crisis statistically 70% of foreclosures are due to unexpected death. Example #2 - Coverage in combat, police, firefighters and other 1st time responders. It is important to have life coverage in a separate plan than work or military. What is offered for long term life insurance “insurability” when separating service is usually 5 times what you pay during work. For instance the SGLI military coverage within 6 months of leaving the military has to be converted to VGLI - 5 times cost - Few afford. What about health issues develop on or off the line of duty and you have little or no life coverage - where does this leave your family? Example # 3 - burial life insurance. Expenses as you get older does cost loved ones even with modest funerals. On television and newspapers life insurance offers is usually limited and most expensive. Taxes and insurance even on a home after death often takes away valuable time needed to maintain market value.

2. Income after being laid off, outsourced, unemployed, or underemployed. Example # 1 - Employee buyouts are very common. Taxes are consequent when you remove money prior to 59 ½ . Protecting principal if you start a business, or simply need income to pay for car loans, mortgages, children’s education is a challenge. CD’s really cost to renew, earn virtually little income and with inflation usually lose money, not to mention income!! My position is to keep your principal and earn access to money without penalty. Most annuities after 1st year allow up to 10% withdrawal without penalty. Taxes are deferred except what is withdrawn. Often, with a longer term commitment the “bonus” is at least 10% on 1st year plus 4-6% interest with a 3% guarantee return on money. Example #2 - You may have $100,000, $200,000 or more for a severance/buyout or inheritance. Let us say $100,000 you get 10% 1st year bonus or so plus 5% - this is common. After 1 year you may need access - you may need $ from your annuity since your income from a new job or business dropped. You show you have now $115,000 ( $230,000 if $200,000 annuity, etc.) - you need $11,000 or so. You are able to get up to 10% each year without penalty!! The next year you could have $110,000 but, you only need $8,000. You still have principal, depending on plan a guaranteed interest and tax deferral on bulk of buyout or retirement plan. You may be only tied up for 5 more years - depending on plan.

3. 403B Tax Sheltered Annuities for education and state employees -- These not only gain triple interest crediting but payroll deduction and rollover advantages. Example # 1 - Per check every $100 put into 403b only takes about $70.00 from your pay check on take home. This is like an added 30% interest!! This helps curve inflation and income for retirement years. These are longer term. However, “hardship withdrawals”, “education” and what is approved do allow early withdrawal exceptions. Can you afford not to have?

Note: Contact me for more information!
Jeff Flora - (937) 626-7525

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