Insurance Solutions

Some retirees underestimate the impact a big market loss may have on the future of their income. Luckily, insurance can be used to protect more than just your physical assets: it can also be used to help protect your future. Our firm specializes in helping individuals safeguard their retirement nest eggs while still participating in market growth by offering a variety of insurance products and financial planning strategies.

With the right plan, you can potentially earn money with your money – through the use of fixed annuities* and life insurance. Our firm can help you create a dependable and sustainable source of retirement income to be used now, in the future, or whenever you need it most.

We offer:

  • Fixed Annuities
  • Life Insurance
  • Long Term Care
  • Health Insurance
  • Medicare Supplements

As an independent insurance firm, we are able to shop dozens of insurance carriers to find the best rates and product solutions to fit your specific needs. We also offer complimentary reviews on your existing fixed annuity and life insurance contracts.

 
*Annuities are designed to be long-term investments. Early withdrawals may impact annuity cash values and death benefits. Taxes are payable upon withdrawal of funds. An additional 10% IRS penalty may apply to withdrawals prior to age 59 ½. Annuities are not guaranteed by FDIC or any other governmental agency. Guarantees are based on the claims paying ability of the issuing insurance company. Fixed Indexed Annuities are insurance products and not considered a security or investment. Some restrictions may apply. Call for specific details and availability.

Life insurance may offer asset protection, peace of mind.

Life insurance may provide great value in the protection that it can provide at an affordable premium. One major advantage that life insurance typically provides its policyholders is protection of their assets and peace of mind.

The unexpected death of a household’s main provider of income can be devastating — not only emotionally, but financially for their survivors. In many states, life insurance death benefit proceeds are subject to certain protections from creditors. Various classifications of life insurance policies can provide policyholders the peace of mind that their family won’t become financially unstable in the event of their death.

People commonly purchase life insurance policies to help pay for eventual funeral costs and final medical bills, or help with life expenses for their dependents. Similarly, life insurance can be positioned in such a way to cover the outstanding amount owed on a mortgage or other form of debt in the event of a primary earner’s untimely passing.

Asset protection strategies are best utilized before a problem arises. Don’t wait to learn the benefits that you may be able to obtain through a life insurance policy. Learn how you may be able to use life insurance to help accomplish asset protection in retirement.

Disclaimer: Life insurance is an insurance product and is subject to state insurance laws and regulations. The above is for informational purposes only and is not, and should not be construed as, advice or a recommendation. The above information is not legal, tax, or accounting advice and you should consult an appropriate professional regarding tax, legal, or accounting advice.

Every year millions of Americans need some form of long–term care, and if you become one of them, you will want to have a plan in place to help you get the quality care you deserve. At Verble Estate Preservation & Advisors, LLC, we believe we have an obligation to tend to our clients’ needs, especially when they are no longer able to do so themselves, and help ensure that each dollar is spent wisely and with our clients’ best interests in mind.

At Verble Estate Preservation & Advisors, LLC, accounting for your long–term care needs is about more than purchasing an insurance policy: it’s about designing a comprehensive strategy to help protect both your wellbeing and your assets. You shouldn’t have to choose between your health and your financial future. Let us develop a plan that helps ensure your long–term care needs are met, but not at the expense of your finances.

Use it or Lose It

Traditional LTC insurance has become the term “Use it OR Lose it” proposition as the cost will increase at least once if not twice in your lifetime at an average increase of 40% each time not to mention that if you never use the benefits, you lose all the premiums paid over the years that the policy was in force.

Today’s Solution to this Problem you Ask?

Life Insurance with a LTC Rider offers two benefits for the price of one without the pitfalls of traditional LTC insurance plans. They can replace current coverage sometimes at better rates especially when considering paying for two policies at the same time without the fear of the cost rising in the future. This way if you have need for care in your home, an assisted living or even in a nursing home…the benefits are there. If you never use the long term care benefit before passing away, you have left a Legacy by providing the TAX FREE death benefit amount to your loved ones.

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Source: http://www.thescanfoundation.org/growing-demand-long-term-care

The Importance of Medicare

When it comes to planning your retirement, there is no shortage of components to consider. Making an income plan, deciding when and how to file for Social Security, and minimizing the impact taxes may have on your retirement assets are just a few of the issues you will need to address. Crafting a retirement plan that is capable of supporting your lifestyle and rewarding the years you spent in the workforce is no easy task. In fact, it may be a financial challenge unlike any you’ve ever faced before.

While it’s easy to become entangled in the many different financial issues your plan will encompass, in my opinion, it’s critical that your plan also addresses your health needs and concerns by including a comprehensive and affordable health insurance strategy.

There are many different ways to accomplish this but for many retirees, Medicare may be the most important. Medicare guarantees health insurance for people at age 65, after they have received Social Security disability benefits for at least 24 months, or if they have end-stage renal disease or have amyotrophic lateral sclerosis (also known as Lou Gehrig’s disease).

Think of it this way, like Social Security, Medicare is a federal social insurance program that you have paid into throughout your career. Don’t you want to know how to get the most out of what you have put it in?

For millions of retirees, their Medicare coverage often means the difference between either insulating their retirement savings from medical costs – or quickly depleting them. To ensure you belong to the former, let’s examine the four basics of any insurance plan: coverage, eligibility, enrollment and premium cost – as they relate to Medicare.

Medicare Coverage:

Deciding how to get your Medicare coverage begins with first knowing what type of coverage you need.

Medicare is split into four parts:

  • Part A: Hospital insurance – covers the costs of health care at medical facilities. Offers coverage for medically necessary inpatient care at hospitals, skilled nursing facilities, hospices and home health services.
  • Part B: Medical insurance – covers the costs of health care outside medical facilities. Offers coverage for doctors’ services, hospital outpatient care, home health care, mental health and some preventative health care services.
  • Part C: Medicare Advantage (MA) plans – policies you can purchase from certain private insurance carriers that provide the same (or more) coverage as Parts A and B.
  • Part D: Prescription drug coverage offered through private Medicare-approved insurance companies.

Eligibility

In general, a person is entitled to receive Medicare at age 65, after they have received Social Security disability benefits for at least 24 months, if they have end-stage renal disease, or if they have amyotrophic lateral sclerosis (also known as Lou Gehrig’s disease).

Enrollment

Enrollment in Parts A and B is automatic for anyone who is 65 years old and already receiving Social Security, diagnosed with ALS or under age 65 and receiving disability benefits. For individuals eligible for Medicare but who do not qualify for automatic enrollment, they can sign up to receive Parts A and B during an enrollment period.

If you don’t plan on filing for Social Security when you turn 65, it’s important to enroll for Parts A and B during the three months prior to your 65th birthday. Failing to do so will delay your coverage and may result in late penalty fees.

Parts C and D, on the other hand, are offered through private insurance companies, which means if you decide you want this coverage type, you must purchase one of these policies during an enrollment period. Keep in mind that if you don’t sign up for Part D when you’re first eligible, your premiums may be subject to penalty.

Pricing

The premiums for each part of Medicare vary according to several different factors. Many people with Part A do not pay a premium because they have already paid enough into the system. As with Social Security, a certain portion from each one of your paychecks is automatically deducted to pay for Medicare. When you’ve had this Medicare tax withheld from your pay for at least 40 calendar quarters, then you will be eligible for free Part A coverage.

The monthly premium associated with Part B is set according to income level, although most people will pay the standard monthly premium amount of $104.90 and have a $147 yearly deductible. Individuals who have an annual income greater than $85,000 and couples who have a joint annual income greater than $170,000 will have an extra charge added to their premium due to their high income level.

Parts C and D are provided via private insurance companies so the monthly premiums of these policies depend on the extent of their coverage and can vary between companies.

Bringing It All Together

Understanding the basic components of Medicare and how they fit together is an important step toward selecting the policy that is best for you. However, working with a financial professional will help ensure that your Medicare coverage will complement and support your retirement plan in the most beneficial manner possible.

*www.medicare.gov