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“I'm here to provide only the best service to all my clients and to give them what they need to protect individuals, families and businesses.”
Mark Anicetti

LIFE INSURANCE FOR INDIVIDUALS AND BUSINESSES

Individual and Family Insurance

Why do I need life insurance?

The main purpose of life insurance is to provide cash to your family after you die. The money your dependents will receive (the "death benefit") is an important financial resource: It can help pay the mortgage, run the household, and ensure that your dependents aren't burdened with debt. The proceeds from a life insurance policy could mean that they won't have to sell assets to pay outstanding bills or taxes. What's more, there is usually no federal income tax on life insurance benefits.

Where do I Begin?

Start by evaluating your family's needs. Gather all your personal financial information and estimate what your family will need after you're gone. Include ongoing expenses (such as day care, tuition or retirement) and immediate expenses at the time of death (like medical bills, burial costs, and estate taxes). Your family also may need funds to help them readjust... perhaps to finance a move, or pay expenses while job hunting. Remember, life insurance provides financial protection. If protection is not your primary goal, you should consider other financial products.

How much life insurance will I need to purchase?

While there's no substitute for evaluating needs, one rule of thumb is to buy life insurance equal to five to seven times your annual gross income. Click on quotes to find out how much life insurance may cost for you.

What are the different types of life insurance?

There are many kinds of insurance including term insurance, universal life, whole life insurance, and more.

What can I expect from the agent?

The agent will work with you to discuss your life insurance needs. He or she will ask questions about family income and your net worth. With the information you have already assembled about your personal goals and financial situation, you'll be able to discuss your insurance options.

Business Insurance

For owners of a business or a practice, planning for its long-term viability can be a challenge. To help ensure success, addressing the possibility of the loss of an owner or key person is imperative. Equally important for owners is the need to attract and retain talented employees. Fortunately, wise planning today can help prevent your business from failing.

Life insurance (get quote) can help protect businesses from being compromised by the loss of an owner or key employee as well as provide benefits that can help attract and retain key employees.

Planning for the Loss of Owners or Key Employees

If a sole owner dies, there may be little lifeblood left to a company thus reducing its value. If the business has more than one owner and no planning has been done, owners can suddenly find themselves in business with the spouse or executors of the deceased owner. And, should a key employee die, this may also negatively impact the business. To help prevent the possibility of a business failure as a result of these situations, owners may wish to enter into a buy/sell agreement funded with life insurance and purchase key person coverage:

Buy/Sell Agreements.

Buy/Sell Agreements provide for the transfer of ownership of the business in the event of death or other circumstances. The agreement may provide for who will purchase the deceased owner's share, the terms of a sale, when the sale will occur, and the purchase price. Proper funding of the agreement with life insurance in the amount of the owner's share helps ensure that money is available to buy out the owner's share should the need arise.

Key Person Coverage.

The most important element of a successful business or practice is its people. The loss of a key employee through death could seriously affect the position of a company. The purchase of life insurance by the business on the life of a key employee can help. Life insurance benefits can help offset lost revenue, meet expenses, and give your business the time needed to replace the key employee - thus reassuring anyone concerned about the ongoing viability of your business.

Attracting and Retaining Key Executives

As your business grows, it often becomes increasingly necessary to attract and retain key executives. In addition to a company's group benefits and qualified retirement plans, individually tailored supplemental retirement plans can help. Such plans may include:

  • Deferred compensation plan
  • Supplemental executive retirement plan, or a
  • Split dollar plan

The tax-deferral advantages available with certain plans provide an attractive means to help fund these plans.

Your Business and Estate Taxes

Estate taxes may exceed 50% of an estate. Without proper estate planning, your heirs may not only lose a large share of your legacy to estate taxes, but they may have to sell their share of your business to meet your estate tax bill. The purchase of life insurance provides death benefits that can be used to pay estate taxes and other settlement costs.

Sound Business Planning

We understand the need for life insurance in sound business planning. The information and conclusions presented are not intended to represent the practice of either accounting or law. Anyone contemplating the agreements mentioned above should consult their own accounting and legal advisors.

About Fixed Annuities

Millions of Americans have chosen fixed annuities to help them chart a course toward their long-term financial goals. Fixed annuities are more than just contracts issued by life insurance companies; they are products specifically designed to help meet the needs of people saving for retirement. In their simplest form, fixed annuities are designed to help people accumulate money now in order to create income in the future, generally during retirement. Ask us about fixed annuities that may be right for you.

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