Financial Planning
Benefit Brokers offers a complete line of insurance and financial
products and services ranging from annuities and retirement plans to estate planning. These products and services are
designed to provide solutions to your personal and business financial
needs, including:
Annuities
An annuity can help you accumulate tax-deferred earnings as part
of your overall retirement plan. Annuities offer the opportunity
for lifetime payments and tax-deferred earnings, and provide a guaranteed
death benefit for your beneficiaries. All guarantees are
backed by the continued claims-paying ability of the issuing insurance
company.
You may want to consider investing in an annuity as part of your
long-term financial plan if:
- You're in a higher tax bracket, and want to defer additional
income.
- You've reached your deductible limit on all your retirement accounts
and wish to save more for retirement.
An annuity is different from most other retirement savings vehicles — it's
actually a contract between you and an insurance company. In return
for making one or more premium payments, the insurance company agrees
to provide you an income stream — usually during retirement.
You can elect to receive payment all at once or as a series of payments,
even for the rest of your life.
Annuities Quote Request
Estate Planning
Estate planning is the process of anticipating and arranging for the disposal of an estate. Estate planning typically attempts to eliminate uncertainties over the administration of a probate and maximize the value of the estate by reducing taxes and other expenses. Guardians are often designated for minor children and beneficiaries in incapacity.
Estate planning involves the will, trusts, beneficiary designations, powers of appointment, property ownership (joint tenancy with rights of survivorship, tenancy in common, tenancy by the entirety), gift, and powers of attorney, specifically the durable financial power of attorney and the durable medical power of attorney.
401(k) Retirement Plans
401(K) plans are tax-deferred retirement savings plans for employees.
The employer sets them up and each company has a slightly different
401(k). They are part of a family of retirement plans known as "defined
contribution" plans - the amount contributed is defined by the
employer or the employee.
When you join a 401(K) plan, you tell your employer how much money
you want to contribute to your account. This amount is deducted from
your salary before taxes are applied, so you pay less income tax.
More importantly, the money is deducted even before you have received
it, making it the easiest savings plan to contribute to. Your employer
may match a portion of your contribution. The money is invested by
the plan administrator (on your behalf) in mutual funds, bonds, money
market accounts, etc. You decide the mix of investments. They usually
have a list of investment vehicles you can choose from as well as
some guidelines for the level of risk you are willing to take. Since
the plan is an incentive for retirement savings, there is one condition:
if you withdraw the money before you are 59½ years
old, you will have to pay tax as well as a 10% penalty fine to the
IRS.
Buy / Sell Protection
If you have a partner in business, you have a need for insurance
so that in the event of death or disability, you can buy out your
partner's interest without having to take out a loan or liquidate
company assets. This is also important where children and taxes are
involved.
Key Person Coverage
Your key employees are your most valuable business asset. Their
skill, knowledge and experience are your real profit makers. Without
them, the success and growth of your business could be in jeopardy.
Key employee insurance is designed to protect your business from
the adversities associated with the loss of a key employee, manager
or executive. The death or disability of a key employee could result
in a substantial financial loss due to hiring and training a replacement,
lost sales, and/or slowed production.
Veterans' Benefits
Most veterans are not aware of the eldercare benefits available through veterans health care learn more at the Veterans' Information Center.
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