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Insurance Planning

Life InsuranceLife Insurance

Life insurance provides the capital to complete the investment plan upon death. 

FIS will help each client access their capital shortfall and time frame by examining their current financial picture and contrasting it with their final financial picture.  FIS will investigate the stability of the policy provider, identify capital needs of the client, assist in designing an appropriate plan, and monitor the policy to see if and when it is in danger of lapsing. 

Long-term Care Insurance

Long-term care (LTC) is multifunctional and designed to cover many types of assistance—although it is most commonly used for nursing care. 

The US Census Bureau estimates that almost half of all Americans will need long-term care at some point after age 65.  FIS works closely with clients to determine if LTC insurance is financially feasible, and if it is, whether they are fully protected over their expected lifetime.  Unfortunately, some individuals may not be able to afford this level of care, even though it may be required. 

There are many factors to consider when determining if an LTC plan is appropriate. 

Disability Insurance

Disability insurance, also known as disability income insurance, replaces a portion of income—typically between 50% and 70%—for individuals who are no longer able to work due to sickness or injury.

Consider this statistic: A 20-year-old has a 30% chance of becoming disabled by the time he or she reaches retirement age. Needless to say, the financial consequences of a disability can be devastating. In 2001, more than one-fifth of bankruptcies in the United States occurred because the debtors (or their spouses) lost at least two weeks of income due to injury or illness.

While government programs such as Social Security provide disability benefits, the eligibility requirements are strict: the disability must be no less than one year in duration and the government must conclude that the disabled individual is incapable of any gainful employment.

The best time to purchase disability insurance is when it is not needed.

Insurance planning is an important element in risk management and should be part of your financial plan.

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