LIFE, HEALTH, DISABILITY & GROUP BENEFITS

Since 1974, we have been providing our clients solutions on a wide range of individual life insurance, disability coverage, group insurance and other employee benefits.  Our team of qualified professionals can guide you through the underwriting and program selection process and offer recommendations to best protect your interests.  We can assist in the following areas:

  • Term & Permanent Insurance
  • Long Term Disability Coverage
  • Long Term Care Insurance
  • Estate Planning Services
  • Charitable Planning
  • Retirement Planning
  • Disability Insurance
  • Group Benefits including:
    • Health Insurance
    • Dental & Vision Insurance
    • 401K
  • Business Planning
  • Executive Compensation Planning

LIFE INSURANCE FAQ's

Life Insurance is designed primarily to protect your family’s financial security after you die. But some types of life insurance can also help you build assets to meet needs during your lifetime. So it’s a smart addition to any financial plan..

TERM INSURANCE: With term life insurance you are “renting” protection for a period of time. When the “lease” – the term of the policy- is up, you can choose to renew at a higher rate, or the insurance stops without any value.

PERMANENT INSURANCE: With permanent life insurance you own the protection for life and your premium payments (like mortgage payments on a house) build value for you in the policy.

One rule of thumb is to buy life insurance equal to ten to fifteen times your annual gross income. However, there is no substitute for a careful evaluation and review of your life insurance needs with one of our financial advisors.

NO. The “benefits” that an employer must offer are Workers Compensation Insurance, which is mandated by Federal law, and Statutory Disability Insurance which is required in only five states and Puerto Rico. Employee benefits were offered to attract workers to employers who had a hard time finding employees during wartime. Over time, medical coverage became an expected benefit, especially at larger employers. However, there is no law requiring an employer to offer any type of employee group benefits.

An HMO (Health Maintenance Organization) is a health insurance plan that allows you to receive care through a network of participating doctors and hospitals. Generally, you select a primary care physician who coordinates your care and refers you to specialists when needed. Care that is not provided by a network physician or hospital is generally not covered under an HMO plan.

An HSA is a way for an employer to reduce costs by offering employees a medical plan with a high deductible while protecting employees from the full affect of that deductible. An HSA allows individuals and families to accrue pre-tax dollars in a savings account from which they can withdraw to cover qualifying medical expenses. The employee is the owner of the HSA account and can take the account with them if he/she moves to another employer or retires.

An HRA is a high-deductible medical plan that allows the employer to fund part of the high deductible on an “as used” basis. This allows the employer to implement a health plan with a generally lower premium than a typical medical plan with in-network co-payments and low out-of-network deductibles and co-insurances.
The employer does not pre-fund the HRA expenses so there is a cash flow savings. The employee and his/her dependents are protected from the high deductible and co-insurance out-of-pocket cost by having the employer partially fund this expense.

It is a separate benefit plan that allows your employees to direct a part of their pay, tax free, into a special account that they can use throughout the year to reimburse themselves for eligible out-of-pocket expenses. The employer saves money on as a result of reduced FICA and Social Security matching payments. There are three types of FSAs and they include: Health Care FSA for uncovered out of pocket medical expenses; Dependent Care FSA for work related child and adult care; Transportation FSA for job-related parking and public transportation reimbursement.