Brokerage vs. Agent = Pure objectivity vs. incentivised selling. First Wealth Advisory, Inc is a pure brokerage insurance firm specialiizing in Life, Long-Term Care and Disability insurance as well as Fixed Annuities and Fixed Indexed Annuities. The ability to provide the absolute best solution for our client’s needs is what matters most when providing products. Our unbiased approach to problem solving gives our clients the peace of mind in knowing they are getting the most suitable recommendation. In addition, our commitment to educating clients on how products work empowers them to make informed product purchases, resulting in the best possible solution to the need.
In exchange for premium, life insurance will pay a death benefit to beneficiaries of the policy upon the death of the insured. It is a very versatile planning tool. Consumers commonly use it for family protection, estate planning, retirement planning & charitable planning. Regardless of why it’s needed, there are two kinds of life insurance; term and cash value and several variations of each kind. It is important to use the correct life insurance policy to fulfill the need that exists and understand how it works.
Annuities also come in many forms and are usually a very misunderstood product. We only deal with Fixed Annuities and Fixed Indexed Annuities. Annuities are purchased for their accumulation advantages (Triple Compounding), their tax advantages and their income advantages as they guarantee that the owner won’t out live his or her money during retirement. Triple compounding is the compounding interest on the principal, the principal’s growth and the tax savings. Annuities grow tax deferred.
Long-Term Care Insurance
Long Term Care Insurance is a volatile market. Many changes are occurring from the carriers which make planning tricky. These products will provide a pool of money that is purchased with premiums and is available when the insured is chronically ill. Triggering events include loss of two of the six Activities of Daily Living (ADL’s), which are: eating, bathing, dressing, transferring, toileting & continence or the onset of Parkinson’s or Dementia.
Disability Income Insurance
Disability income insurance is one of the least understood types of insurance, but also one of the most important. Many people mistakenly believe that workers who become disabled will receive disability income either through Social Security, Worker’s Compensation or both. But Social Security disability benefits are often quite restrictive and employees don’t qualify for Worker’s Compensation unless the disabling illness or injury happened on the job. Think of it like this – What is the one asset that pays for all of your other assets? The answer is your income and that is why you should insure it. In exchange for premiums the insurer will provide an income tax free benefit to the insured upon meeting the definition of disability according to the contract. Buy a non-cancellable and own occupation disability insurance policy for the best protection.
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