INSURANCE SERVICES

At von Adelung Wealth Management, we can help with all your insurance needs, including Life, Annuities, Disability, Business Continuation, Health, Long Term Care, and Catastrophic Insurance.

Life Insurance

Part of any financial planning process would include life insurance as a possible strategy to use for family protection or tax-free income at a later time.

At von Adelung Wealth Insurance, we take the time to educate our clients on exactly how life insurance works with all its possible benefits. If necessary, we then use life insurance to replace lost income, pay estate  taxes or as a tax-free supplemental retirement income source.

Today there are currently about 1,000 life insurance companies which offer many different types of policies. At von Adelung Wealth Management we look at each client’s needs and goals; then address them by providing the most efficient type of product.

As agents always working for our clients, we have a variety of companies we deal with. The purpose is to safeguard and create protection for you and your family, while we meet your specific needs.

These are some ways Life Insurance can benefit you:

• Replaces loss of income at death
• Provides Death Benefits that are usually paid tax-free
• Supplements retirement with tax-free income
• Provides emergency cash reserves
• Funds college tuition
• Pays estate taxes

Annuities

An Annuity is a financial product sold by insurance companies which is designed to grow tax-deferred funds.  Annuities date back to the Roman times.  Please follow the link to read the full story…Do as the Romans did — with annuities.

Annuities are designed to be a reliable means of securing a steady cash flow for individuals during their retirement years.  Whereby life insurance products protect a family against income loss due to death, annuities help create a possible way to enhance a client’s retirement income stream that they cannot out-live. Clients can potentially enhance their retirement goals and objectives by owning an annuity.

Annuities are long term investments which can be structured according to a wide variety of details and factors; such as the duration of time that payments can be guaranteed to continue. When you fund an annuity, you are creating a retirement vehicle; which means that you are unable to access the money, without penalty; until you reach 59 ½ years of age.  Annuities are for people who want to live a long life.

There are three basic types of annuities which are: Fixed, Fixed Index and Variable. They are generally set up as a Fixed Annuity or a Variable Annuity.  Fixed Annuities pay a fixed interest rate, while Variable Annuities are invested in the stock market and carry market risk with a potential of losing principal.

Through a comprehensive financial plan, von Adelung Wealth Management can help you find the annuity that is correct for your retirement.

Health Insurance

Health insurance is a tool used to provide income against loss due to illness or bodily injury.

Health insurance gives coverage for medicine, visits to the doctor or emergency room, hospital stays, and other medical expenses. Policies differ in coverage from the size of the deductible and/or co-payment, any limits of coverage, to options for treatment available to the policyholder. With Obama Care, more Americans are eligible for health insurance.

Health insurance can be directly purchased by an individual, or it may be provided through a group plan (two or more people make a group).

Von Adelung Wealth Management has insurance professionals that will guide you through the process to get the correct and most affordable health insurance policy to meet your needs.

Please contact us for a free health insurance assessment; to get you the correct insurance at the right price.

Disability Insurance

Disability insurance policy pays a disability benefit as a partial loss of income due to illness or injury. Statistics show that just over 1 in 4 of today’s 20 year-olds will become disabled before they retire. Most disability policies pay a fixed sum for a fixed period; while others pay a monthly sum for the entire period (e.g. up to age 65) while the insured is disabled from earning suitable income (as determined by his or her qualifications, experience and training). Any disability income is typically set up to come in tax free if paid correctly.

If you are a business owner or high-wage earner this area must be addressed as an integral part of any financial plan. If you are injured or become ill no one is going to write you a check.

Business Overhead Expense Insurance

This is a type of insurance policy that provides coverage in case the owner of a business is disabled and temporarily, but completely, unable to work. For example, if a business owner contracts cancer and is unable to work during treatment, business overhead expense insurance will pay his/her operating expenses during the period of disability so the business can continue to function. Examples of included expenses are property taxes, insurance premiums, interest on debt, employee salaries, and so forth. The expenses must be incurred during the period of disability (for instance, the company cannot close its main office and expect compensation for rent it is not paying). The maximum period during which coverage is paid is usually one or two years.

Long Term Care Insurance

Long Term Care Insurance (definition) – covers a variety of services which help meet both the medical and non-medical needs of people with a chronic illness or disability; which prevents them from taking care of themselves for long periods of time. The insurance covers activities of daily living such as dressing, bathing, ambulating, eating, etc.

Long-term Care Insurance covers not only the cost of care in a nursing home, but also at-home care, in a residential care facility or in other community-based settings. Partnership long-term care insurance policies are designed to provide you with options to ensure your independence when you need it most!

Did you know that 70% of Californians age 65 and over will need some type of long term care? In California, the average cost of just a one-year stay in a nursing home is $94,900 (an amount that is growing approximately at a rate of 5% annually).*

Determining how to pay for long-term care is often the last item that families address; even though it may be the most important one. Failure to plan for long-term care needs, however, can be financially devastating.

It is very important to have a 1-3 year policy as part of your financial plan!

* Genworth – Cost of Care Survey 2013