Products & Services (Individual)
Products & Services
I offer a wide range of insurance products designed to provide you with the flexibility you’ve been searching for. Choosing the right products for your unique situation can be easier than ever before. With access to a network of provider resources, I can guide you through a complex, changing world of risk and opportunity.
Individuals & Families
No matter what financial circumstances you are in, our Financial Professionals are here to help protect you and your family through the ins and outs of life’s many changing events. Whatever your unique situation, we have financial solutions designed to help.
Life Events
We’ll work with you to help you prepare for the unexpected and take you step-by-step through the uncertainties of planning for your financial future.
Products & Solutions
We offer a wide range of products designed to provide you with the flexibility you’ve been searching for, and to help meet your needs during the unique situations life throws your way.
529 College Savings
Annuities
Disability Income Insurance
Individual Retirement Account (IRA)
Life Insurance
Long Term Care
Mutual Funds
Family & Life Changes (Reg & non-SpecialCare)
Family & Life Changes
Big changes can happen in your life at any time, so you have to think carefully about financial decisions that may affect your future. Whether your family is growing or you’re trying to limit the impact of a transition on your loved ones, remember your long-term goals. You may be considering important life events like college or marriage; you may be put in a position of caring for the people who supported you throughout your life; or you may be negotiating a settlement to divide your combined assets—no matter what the situation, you’ve got a lot to think about. Planning now could help make the difference between just getting by and living comfortably down the road.
Here are some options to consider:
529 College Savings
Disability Income Insurance
Individual Retirement Account (IRA)
Life Insurance
Mutual Funds
Trust Services
Preparing for the Future (Reg Only)
Preparing for the Future
As you develop your financial strategies, you should strive to preserve your assets and help protect your family against life’s uncertainties. There are many considerations to take into account as you approach retirement age.
Given today’s longer life spans and active lifestyles, you need to ensure you have a steady stream of retirement income. You may also be concerned about contributing to your children or your grandchildren’s college education. Finally, consider working with your legal advisor to establish an estate plan to make sure the assets you’ve accumulated pass on to those you love, according to your wishes. Insurance coverage can provide a solid foundation for your future, protecting you and those who depend on you for financial security. Some basic protection planning now can help ensure you have the income and assets to meet your financial goals in the future.
Here are some options to consider:
529 College Savings
Annuities
Disability Income Insurance
Individual Retirement Account (IRA)
Life Insurance
Long Term Care
Unexpected Hardships (Reg & non-SpecialCare)
Unexpected Hardships
Without proper planning, unexpected hardships can have a devastating financial impact on you and your family. Unforeseen events, such as a serious illness, an accident that prevents you or a family member from working, the loss of a loved one, or the immediate financial needs of a child with special needs, may occur at any time. You don’t have to manage these situations alone. Our Financial Professionals have a variety of solutions to address your unique situation. Consider taking action now to help ease your financial burdens in the future.
Here are some options to consider:
Annuities
Disability Income Insurance
Life Insurance
Long Term Care
Mutual Funds
Trust Services
Wealth Accumulation (Reg Only)
Wealth Accumulation
Help secure a more comfortable future with solid planning today. Protecting your wealth involves taking advantage of a diverse array of financial solutions tailored to your long-term needs. You may be budgeting for the mortgage on a new home or learning to manage newfound wealth. Now it’s time to look toward the future to help you preserve your wealth. As you think about ways to reduce taxes, fund your retirement, and protect loved ones, you can work with our Financial Professionals to make the process easier.
Here are some options to consider:
Annuities
Disability Income Insurance
Individual Retirement Account (IRA)
Life Insurance
Long Term Care
Mutual Funds
529 Plans (Reg Only)
529 Plans
If you find yourself intimidated by the ever-rising price of higher education, then a 529 plan might be a key component in saving for a college education. A 529 plan is a tax-advantaged way to save for college and pay for education expenses. Unlike some other savings vehicles, a 529 plan may allow you to make sizeable contributions. The funds may generally be used for any qualified college or education expense, including tuition, room, board, fees, books, supplies, and equipment. Tax benefits may be subject to certain restrictions.
Money in a 529 plan grows tax deferred. And you may be able to withdraw the money without having to pay federal and state income taxes-depending on the plan and where you live-as long as it's used to pay for qualified, education expenses.1 If the money from 529 plans is used for other purposes, the earnings portion of a withdrawal is subject to ordinary federal income tax, an additional 10% federal tax, and any applicable state income taxes. 529 plans may also affect a student's eligibility for financial aid.
Types of 529 Plans
Although many details of 529 plans vary by state, they generally come in two forms:
College savings plans-allow you to invest your money in an account to pay for the student's education expenses. Students can use the funds for qualified expenses at accredited institutions in the U.S. and abroad.
Prepaid tuition plans-allow you to lock in tuition rates at eligible colleges or universities with a lump-sum investment or monthly payments. In other words, since you are paying in advance, you may be avoiding potential tuition inflation down the road.
Gift Tax and Estate Tax Benefits
Under the gift tax exclusion, you can gift up to $15,0000 ($30,000 for married couples) annually2 per beneficiary, or gift up to $75,000 ($150,000 for married couples) over a five-year period, without triggering the gift tax.3
Keep in mind that your gifts are excluded from your estate, so investing in a 529 Plan can be a smart strategy to help reduce your estate tax.
Scholarship Withdrawals
Funds may be withdrawn without penalty if the beneficiary receives a scholarship (withdrawals can be made up to the scholarship amount), or in the event of the death or disability of the beneficiary. Ordinary federal and state income taxes would be owed on any investment earnings included in gross income.
1 A federal 10% penalty may be imposed on the earnings portion of a non-qualified withdrawal in addition to ordinary income tax.
2 Annual exemption amounts are subject to revision by the Internal Revenue Service.
3 If the Account Owner utilizes the special five-year lump sum exclusion and dies within five years of the funding date, the portion of the contribution allocable to the years remaining in the five-year period (beginning with the year after the Account Owner's death) would be included in the account owner's estate for Federal estate tax purposes. Gifts to the same beneficiary within that 5-year period cannot qualify for the annual exclusion. Clients should consult their tax advisor.
Investments in 529 plans are not deposits or obligations of any bank, are not guaranteed by any bank, are not insured by the FDIC or any other agency, and involve investment risks, including the possible loss of the principal amount invested.
Conditions, such as contribution limits, vary by plan. 529 plans are subject to market risk and volatility. Accounts may lose or gain value. Diversification does not assure a profit or protect against loss.
Before investing in any plan, investors should carefully consider investment objectives, risks, charges and expenses. Plan disclosure documents contain this and other information about the plans and may be obtained by asking your financial professional. Read these documents carefully before investing.
Some states offer favorable tax treatment to their residents only if they invest in the state's own plan. You should consult your tax advisor.
The information provided is not written or intended as tax or legal advice and may not be relied on for purposes of avoiding any Federal tax penalties. We are not authorized to give tax or legal advice. Individuals are encouraged to seek advice from their own tax or legal counsel.
Annuities (Reg Only)
Annuities
People are generally living longer and that means more time and savings could be spent in retirement. If you need a tax-deferred investment to provide a guaranteed1 stream of income for life or a specified number of years, it might be worth considering an annuity. An annuity is a contract between an insurance company and an annuity owner. In exchange for a purchase payment, or series of payments, the insurance company guarantees1 to pay a stream of income in the future.
There are two types of annuities—Immediate and Deferred.
Immediate Annuities
An immediate annuity is usually purchased with a single premium and begins a stream of income within the first 12 months from the date of issue. You decide when payments will begin within that period and how long to receive income. There are two types of immediate annuities: fixed and variable.
Immediate Fixed Annuity
An immediate fixed annuity provides a guaranteed and predictable stream of income during the payout period.Immediate Fixed and Variable Annuity
An immediate fixed and variable annuity provides a guaranteed stream of income. The variable income payments fluctuate based on the performance of the variable investment choices selected. A fixed account is also usually offered as an investment choice within this type of contract.
Deferred Annuities
A deferred annuity is specifically designed to help accumulate assets for retirement. It also offers the ability to turn those assets into a guaranteed stream of income at some point in the future. You decide when payments begin and how long to receive income. There are basically two types of deferred annuities: fixed and variable.
Deferred Fixed Annuity
A deferred fixed annuity earns interest during the contract's accumulation period. The interest rates are set by the issuing company and are guaranteed not to be lower than the minimum guaranteed interest rate shown in the contract. A contract's accumulated assets can be converted into a guaranteed stream of income for the future.Deferred Variable Annuity
A deferred variable annuity offers variable investment choices (and usually a fixed account) in which the contract owner can invest. During the accumulation period, the investment return and value of the annuity will fluctuate in accordance with the investments selected. A contract's accumulated assets can be converted into a guaranteed stream of income for the future.
1Guarantees are based on the claims-paying ability of the issuing company and do not apply to the investment performance or safety of the amounts held in the variable investment options.
Annuities are not appropriate for everyone. There are fees and charges associated with owning an annuity.
Annuities do not provide any additional tax advantage when used to fund a qualified plan. Investors should consider buying an annuity to fund a qualified plan for the annuity's additional features, such as lifetime income payments and death benefit protection.
Variable annuities are sold by prospectus. Before purchasing a variable annuity contract, investors should carefully consider the investment objectives, risks, charges and expenses of the variable annuity contract and its underlying investment choices. For this and other information, obtain the product prospectus and underlying investment choices prospectus from your registered representative. The prospectuses should be carefully considered before investing or sending money.
If taken prior to age 59 1/2, a 10% federal income tax penalty may apply. This information is not written or intended as specific tax or legal advice and may not be relied on for purposes of avoiding any federal tax penalties. MassMutual, its employees, and representatives are not authorized to give legal or tax advice. Individuals are encouraged to seek advice from their own tax or legal counsel.
Principal Underwriters: MML Distributors, LLC (MMLD) and MML Investors Services LLC (MMLISI) Members FINRA {www.finra.org} and SIPC {www.sipc.org}. MMLD and MMLISI are subsidiaries of Massachusetts Mutual Life Insurance Company (MassMutual), 1295 State Street, Springfield, MA 01111-0001.
Insurance products issued by Massachusetts Mutual Life Insurance Company, Springfield, MA 01111 and its subsidiary CM Life Insurance Company, Enfield, CT 06082.
Disability Income Insurance (Individuals & Families)
Disability Income Insurance
A sudden interruption of income—due to an extended period of sickness or injury—can have serious financial consequences for many of today’s employees. If you are lucky, you may receive group disability benefits through your employer. However, you will need to make sure the benefits available through your group disability coverage are adequate for your needs. Group disability benefits are taxable if your employer pays the premiums, may be capped at a relatively low amount, and may not cover variable income such as bonuses or commissions. As such, these benefits may not be enough to maintain your lifestyle or pay all your bills if you become too sick or injured to work.
An individual disability income insurance policy can help supplement your group long term disability benefits and protect a larger portion of your income. An individual disability income insurance policy you purchase on your own is fully portable, meaning you won't have to worry about losing coverage if you change jobs, and the benefits are generally paid are tax free if you are the premium payor.1 In addition, an individual disability income insurance policy is non-cancelable by the carrier (as long as the premiums are paid), and with a guaranteed renewable policy, your premiums will never change for the life of the policy.
Disability income insurance policies have exclusions and limitations.
1 The information provided is not written or intended as tax or legal advice and may not be relied on for purposes of avoiding any Federal tax penalties. We are not authorized to give tax or legal advice. Individuals are encouraged to seek advice from their own tax or legal counsel.
Disability income insurance policies have exclusions and limitations.
Individual Retirement Account
Individual Retirement Account
Retirement may seem far away, but it's never too early to determine how much you'll need and to begin the process of saving. Making smart financial decisions now can help impact how you live in retirement. We can assist you along the way with our Individual Retirement Account (IRA)—it’s designed to help you reach your retirement goals.
An IRA is a tax-deferred personal savings account that allows you to save for retirement without a company-sponsored plan. Throughout your lifetime, you can make tax-deductible “contributions” (subject to limitations) to your IRA, which you can then invest in basic securities such as stocks and bonds. For 2020, the annual amount you can contribute to an IRA is the lesser of 100% of earned compensation or $6,000, $7,000 if you are age 50 or older (as of December 31 of the tax year to which the contribution relates),
With a traditional IRA—the most common type of IRA—income taxes are deferred until you withdraw them, so you don’t pay annual federal (and, in many cases, state) income taxes on your earnings. At age 59 ½, you can make taxable withdrawals from the account called distributions for your retirement. If you choose to take distributions before you turn 59 ½ years old, the government imposes a premature distribution penalty of 10% on your withdrawal. Additionally, when you turn 72 years old, you are required to take distributions by April 1 of the following calendar year.
Roth IRA Account
Unlike the traditional IRA, contributions to the Roth IRA are considered “after-tax” and therefore not deductible, but you can generally take distributions from the Roth IRA tax-free. The maximum annual contribution to the Roth IRA for 2018 is $6,000, $7,000, for individuals age 50 and older (as of December 31 of the tax year to which the contribution relates).
The Roth IRA became an option after the Taxpayer Relief Act of 1997, and allows for investors filing single on their taxes with a modified adjusted gross income in 2020 of less than $139,000 or married couples filing jointly with a combined adjusted gross income of less than $206,000 annually, to make limited, annual contributions toward retirement. There is no mandatory age at which you are required to take distributions from the Roth IRA, and there is no premature distribution penalty for amounts you withdraw from the principal, subject to certain requirements
Coverdell Education Savings Account (ESA)
The Coverdell Education Savings Account or Education IRA is a trust created exclusively for the purpose of paying qualified education expenses. You can contribute up to $2,000 per year to the account and those contributions will grow tax-free until distributed. In addition, the beneficiary will not owe tax on the distributions if they are less than a beneficiary’s adjusted qualified education expenses at an eligible institution.
Savings Incentive Match Plan for Employees (SIMPLE)
In this written salary reduction arrangement, eligible employees contribute to an IRA in their name. Your employer is required to make annual contributions for each eligible participant. This type of arrangement is available to self-employed individuals or owners of companies that have 100 or fewer employees and no qualified retirement plan. Employees are eligible for a SIMPLE-IRA if they earn at least $5,000 annually during any 2 of the preceding calendar years SIMPLE-IRAs may be funded by annuities.
For 2020, the maximum employee contribution limit is the lesser of 100% of compensation or $13,500. SIMPLE IRA owners age 50 or older (as of December 31 of the tax year to which the contribution relates) may be eligible to make an annual “catch-up” contribution each year of $3,000. The money contributed to a SIMPLE IRA will accumulate tax deferred until money is withdrawn. Withdrawals are subject to ordinary income tax and, if taken before age 59 ½, a 10% federal income tax penalty may apply, and this penalty is increased to 25% for distributions taken within the first two years of participation in the plan.
Life Insurance (Individuals & Families - Reg Only)
Life Insurance
Life insurance can be the foundation of your financial security and can provide comfort and stability for your family. The purpose of life insurance is to help provide your loved ones with financial protection after you die, in exchange for the premiums you pay to your insurer during your lifetime. Some life insurance policies can provide you with financial protection for a specific duration, while others accumulate cash value, offering a living benefit that can be used for any purpose such as to help supplement retirement income, funding for a child’s education, or cash for emergencies.1
Term Life Insurance
Term life insurance provides coverage for a set period of time at a generally lower cost than permanent insurance. Many term life insurance products allow you to convert to a permanent policy, such as whole life insurance. The cost of insuring oneself increases over time, so it’s important to understand your short- and long-term needs for financial security when you select a policy.
Permanent Life Insurance
Permanent life insurance provides you with financial protection for your entire life, as long as the policy remains in force. Because of the flexibility permanent life insurance offers, there are several types of policies you can purchase.
Whole Life Insurance. The benefits of whole life insurance include guaranteed fixed premiums, a guaranteed death benefit and guaranteed cash value growth. This means that with whole life insurance, your premiums never increase as long as they’re paid, and the policy has “living benefits,” which may enable you to access the cash value of the policy for any purpose while you’re alive.1 One thing to keep in mind when taking a distribution from a whole life insurance policy is that accessing the policy’s cash values will reduce the policy’s cash value and death benefit and increase the chance the policy will lapse.
Universal Life Insurance. Universal life insurance provides lifetime death benefit protection along with flexibility that gives you choices as your needs and finances change. It offers options such as coverage amounts that may be increased or decreased, and premiums that you can vary based on your finances as long as there is enough money in the account to pay for the monthly insurance and administrative charges.
Variable Universal Life Insurance. Variable universal life introduces an investment component. With variable universal life, you can allocate net premiums and account values among divisions of a separate account and guaranteed principal account.2 You can direct a portion of your net premium payments to any of the investment options available through the separate account depending on the particular variable universal life product. Each investment option offers a different level of risk and growth potential. One feature of variable universal life insurance (and universal life) is its premium flexibility: you can skip payments as long as your policy has accumulated enough account value to meet the monthly deductions. Also, you can add numerous riders to your policy. Riders are available for an additional premium.
**Variable life insurance policies are sold by prospectus. Before purchasing a variable life insurance policy, investors should carefully consider the investment objectives, risks, charges and expenses of the variable life insurance policy and its underlying investment choices. For this and other information, obtain the prospectuses for the variable life insurance policy and its underlying investment choices from your registered representative. Please read the prospectuses carefully before investing or sending money.
Survivorship Life Insurance. Survivorship life insurance is a form of permanent life insurance that covers two people on one policy and pays a death benefit after both people on the policy have died. The cost for survivorship life insurance is usually lower than the cost of two individual policies.
1 Distributions under the policy (including cash dividends and partial/full surrenders) are not subject to taxation up to the amount paid into the policy (cost basis). If the policy is a Modified Endowment Contract, policy loans and/or distributions are taxable to the extent of gain and are subject to a 10 percent tax penalty if the policyowner is under age 59½.
Access to cash values through borrowing or partial surrenders will reduce the policy’s cash value and death benefit, increase the chance the policy will lapse, and may result in a tax liability if the policy terminates before the death of the insured.
2 Guarantees are based on the claims paying ability of the issuing company or companies.
Life Insurance (Retirement Planning - Reg Only)
Life Insurance
You’ve worked hard and dedicated all your resources to build and grow your business into a successful enterprise. When the time comes to move on to the next chapter in your life, will you be prepared?
Retirement planning is about creating a strategy that helps ensure the lifestyle you've grown accustomed to will continue long after you retire. Careful preparation today can help make this important phase of your life a reality tomorrow.
Life insurance can be a key component in a diversified retirement planning strategy. As a small business owner, you may be limited in your qualified retirement planning options. Life insurance can provide an alternative to supplement the retirement funding vehicles you already have in place.
Life insurance pays a death benefit, generally income-tax free, to a beneficiary upon the death of the insured. In addition, life insurance can accumulate a cash value on a tax-deferred basis. This cash value can be accessed for a variety of life's opportunities and challenges, including supplemental retirement income.1
Term Life Insurance
Term life insurance provides coverage for a set period of time at a generally lower cost than permanent insurance. Many term life insurance products allow you to convert to a permanent policy, such as whole life insurance. The cost of insuring oneself increases over time, so it’s important to understand your short- and long-term needs for financial security when you select a policy.
Permanent Life Insurance
Permanent life insurance provides you with financial protection for your entire life, as long as the policy remains in force. Because of the flexibility permanent life insurance offers, there are several types of policies you can purchase.
Whole Life Insurance
The benefits of whole life insurance include guaranteed fixed premiums, a guaranteed death benefit and guaranteed cash value growth. This means that with whole life insurance, your premiums never increase as long as they’re paid, and the policy has “living benefits,” which may enable you to access the cash value of the policy for any purpose while you’re alive.1 One thing to keep in mind when taking a distribution from a whole life insurance policy is that accessing the policy’s cash values will reduce the policy’s cash value and death benefit and increase the chance the policy will lapse.
Universal Life Insurance. Universal life insurance provides lifetime death benefit protection along with flexibility that gives you choices as your needs and finances change. It offers options such as coverage amounts that may be increased or decreased, and premiums that you can vary based on your finances as long as there is enough money in the account to pay for the monthly insurance and administrative charges.
Variable Universal Life Insurance. Variable universal life, unlike universal life insurance and whole life insurance, introduces an investment component. With variable universal life, you can allocate net premiums and account values among divisions of a separate account and guaranteed principal account.2 You can direct a portion of your net premium payments to any of the investment options available through the separate account depending on the particular variable universal life product. Each investment option offers a different level of risk and growth potential. One feature of variable universal life insurance (and universal life) is its premium flexibility: you can skip payments as long as your policy has accumulated enough account value to meet the monthly deductions. Also, you can add numerous riders to your policy. Riders are available for additional premium.
**Variable life insurance policies are sold by prospectus. Before purchasing a variable life insurance policy, investors should carefully consider the investment objectives, risks, charges and expenses of the variable life insurance policy and its underlying investment choices. For this and other information, obtain the prospectuses for the variable life insurance policy and its underlying investment choices from your registered representative. Please read the prospectuses carefully before investing or sending money.
Survivorship Life Insurance. Survivorship life insurance is a form of permanent life insurance that covers two people on one policy and pays a death benefit after both people on the policy have died. The cost for survivorship life insurance is usually lower than the cost of two individual policies.
1 Distributions under the policy (including cash dividends and partial/full surrenders) are not subject to taxation up to the amount paid into the policy (cost basis). If the policy is a Modified Endowment Contract, policy loans and/or distributions are taxable to the extent of gain and are subject to a 10 percent tax penalty if the policyowner is under age 59½.
Access to cash values through borrowing or partial surrenders will reduce the policy’s cash value and death benefit, increase the chance the policy will lapse, and may result in a tax liability if the policy terminates before the death of the insured.
2 Guarantees are based on the claims paying ability of the issuing company or companies.
Life Insurance (Business)
Life Insurance
Life insurance can help ensure the continued existence of a company by providing surviving owners with a source of liquidity to buy out a deceased owner's share of the business. In some cases, business owners also have the flexibility to increase or decrease life insurance coverage to keep pace with the value of the business.
Employee incentives can provide you with an opportunity to offer a select group of key employees' retirement and survivor benefits beyond what is provided as part of your company's standard benefits offering. These incentives can make the difference between keeping and losing employees who are critical to your company’s success.
Life insurance, when used as part of an employee incentive plan, can provide a death benefit payable to a beneficiary in the event of the employee's death. In addition, depending on the type of life insurance used, the employee may be able to draw upon the cash value through loans or partial surrenders from the life insurance policy to help supplement his or her retirement.1 While the policy may allow for access to the cash value in the short-term, such as through loans or partial surrenders, these transactions will impact the policy's death benefit if the values are not restored prior to the insured's death. Also, there may be little to no cash value available for loans in the policy's early years.
The simplicity of utilizing life insurance in a plan, the potential income tax deduction for the business, and the degree of control that the business owner gives to the employee, all combine to make life insurance an attractive employee incentive option. 1
Term Life Insurance
Term life insurance provides coverage for a set period of time at a generally lower cost than permanent insurance. Many term life insurance products allow you to convert to a permanent policy, such as whole life insurance. The cost of term life insurance increases over time, so it’s important to understand your short- and long-term needs for financial security when you select a policy.
Permanent Life Insurance
Permanent life insurance provides you with financial protection for your entire life, as long as the policy remains in force. Because of the flexibility permanent life insurance offers, there are a couple types of policies you can purchase.
Whole Life Insurance
The benefits of whole life insurance include guaranteed fixed premiums, a guaranteed death benefit and guaranteed cash value growth. This means that with whole life insurance, your premiums never increase as long as they’re paid, and the policy has “living benefits,” which may enable you to access the cash value of the policy for any purpose while you’re alive.1 One thing to keep in mind when taking a distribution from a whole life insurance policy is that accessing the policy’s cash values will reduce the policy’s cash value and death benefit and increase the chance the policy will lapse.
Universal Life Insurance. Universal life insurance provides lifetime death benefit protection along with flexibility that gives you choices as your needs and finances change. It offers options such as coverage amounts that may be increased or decreased, and premiums that you can vary based on your finances as long as there is enough money in the account to pay for the monthly insurance and administrative charges.
1 Distributions under the policy (including cash dividends and partial/full surrenders) are not subject to taxation up to the amount paid into the policy (cost basis). If the policy is a Modified Endowment Contract, policy loans and/or distributions are taxable to the extent of gain and are subject to a 10 percent tax penalty if the policyowner is under age 59½.
Access to cash values through borrowing or partial surrenders will reduce the policy’s cash value and death benefit, increase the chance the policy will lapse, and may result in a tax liability if the policy terminates before the death of the insured.
Long Term Care
Long Term Care
For most of us, it is unpleasant to envision a time when performing routine tasks may become difficult as the result of injury, illness or aging. If the time comes when you need substantial assistance performing daily tasks, it is unlikely you will want cost to be the primary decision-making factor for your long term care. Long term care (LTC) services can be expensive and costs generally continue to rise. Planning early can help ensure that you have more control in receiving the type of care you want — in the setting you choose, should the need arise.
What is Long Term Care?
Long term care includes a variety of services and supports to help meet personal care needs over an extended period of time. The services include help performing Activities of Daily Living (ADLs), such as: bathing, continence, using the toilet, transferring to/from a bed or chair, dressing and eating. Long term care services are generally not covered under personal health insurance or Medicare because they are not intended to cure, improve or treat a specific medical condition. Medicaid may help individuals with income and assets below state requirements.1
Whether long term care services occur in a nursing home, assisted living facility or your own home, the costs can be a huge expense. The average stay in a nursing home is 835 days (2.3 years) and $183,700.2 The national median hourly rate for a home health aide is $20 and that can add up quickly.3
Potential Ways to Pay for Care
A variety of sources may be used when expenses do not qualify under Medicare or personal health insurance.
In some cases, family members and friends may be able to help with some of the care you need — preparing meals, providing transportation; helping with housework, bills or medication for example. Caregiving can be rewarding, but it can also be stressful. It’s important to recognize when family caregivers need a break and/or can no longer provide the care you require.
When professional long term care is necessary, one option is paying with your own resources such as savings, investments, income (pension, Social Security, annuities) or even your home or home equity. Consider how long these sources might last and what other goals may be unfulfilled if these funds were used for care.
Another option is insurance designed for long term care expenses, or with the option to use the policy’s primary benefits for long term care if needed. For example, your existing life insurance or annuity may contain provisions to utilize benefits early in the event you need long term care. It is important to have an insurance professional review your existing policies and carefully explain the differences in the types of coverage available today.
Finally, you may be able to qualify for your state’s Medicaid program. Medicaid only pays after you meet eligibility requirements, including specific restrictions on income and assets.1
Making it Work
As you can see, there are many alternatives to consider when preparing for the possibility that you may need long term care. Generally, beginning early has advantages. First, at younger ages, you are more likely to be healthy and qualify for various types of insurance. Second, starting early means you may be able to meet your goal with lower installment savings amounts or annual premiums.
You don't have to prepare for long term care expenses alone. Our Financial Professionals can review a variety of solutions that may help you meet your goals.
1 For more information regarding benefits provided by Medicare or Medicaid (Medi-CAL in California) visit www.cms.hhs.gov. Medicaid guidelines vary by state. Contact your local Medicaid office for details.
2 National Nursing Home Survey 2014, National Center for Health Statistics.
3 Cost of Care Survey, Genworth, June 2015.
Mutual Funds(Reg Only)
Mutual Funds
Whether you favor an aggressive approach or a conservative one, we offer a breadth of mutual funds designed to match your investment goals.
What are Mutual Funds?
Mutual funds are professionally managed portfolios of stocks, bonds or other securities that pool the money of a group of investors who have common financial goals. The value of mutual fund shares will fluctuate so that when redeemed they may be worth more or less than their original cost.
Who needs Mutual Funds?
Mutual funds may be an appropriate option for investors at various income levels and may help to reduce the worry of day-to-day issues such as what individual securities to buy and sell, or when to buy and sell them. They offer a level of diversity that can be hard to match as an individual investor. The increased diversification may reduce volatility.
Investing in a Mutual Fund
The types of securities a mutual fund can buy are spelled out in a detailed investment document called a prospectus. A single fund may own dozens or even hundreds of different securities. The prospectus also describes fund objectives and discloses the fund’s risks, charges, and expenses. You should read a fund’s prospectus and, if available, a summary prospectus carefully before investing.
Mutual funds are subject to market risk and volatility. Shares may lose or gain value. Diversification does not assure a profit or protect against loss.
Shares of mutual funds are not deposits or obligations of any bank, are not guaranteed by any bank, are not insured by the FDIC or any other agency, and involve investment risks, including the possible loss of the principal amount invested.
Before investing in any mutual fund, investors should carefully consider a fund's investment objectives, risks, charges and expenses. Fund prospectuses and, if available, summary prospectuses contain this and other information about the funds. To obtain a prospectus, ask your Financial Professional. Read prospectuses and, if available, summary prospectuses carefully before investing.
Trust Services
Trust Services
A trust is a fiduciary arrangement through which the trustee manages assets for the benefit of third parties. A trust is commonly used to transfer wealth to heirs or to favored charitable organizations. Insurance products, such as life insurance policies, annuity contracts and disability policies, may be used to fund trusts in appropriate circumstances.
Trusts are very flexible and may be drafted to meet the specific intent of the individuals creating the trust and customized to meet the specific needs of trust beneficiaries. You can use trusts as a key element in a comprehensive estate and wealth transfer plan, or to otherwise direct how your legacy will be managed and distributed after your death.
Advanced estate planning and trust services require specific knowledge typically not provided by many financial professionals. Using trust services means collaborating with a third party that has your best interests in mind while the trust is set up through an attorney. Trust services include:
Investment management & prudent diversification of account assets;
Periodic statements, annual tax reporting and investment reporting; cash management, custody and prompt distribution of assets;
Processing of capital changes such as stock dividends, splits, exchanges and tenders;
Bill paying, automated deposits and disbursements (ACH and wire);
Income collection and allocation
Traditionally, financial professionals had to refer clients to other providers. The person appointed as your trustee should have the knowledge and capability necessary to administer sometimes complex arrangements and to meet the fiduciary duties and responsibilities that are imposed under trust law. If properly drafted by an attorney and administered by the trustee, a trust can help ensure that trust assets are managed and distributed after your death as you had desired.
The information provided is not written or intended as specific tax or legal advice. Individuals are encouraged to seek advice from their own tax or legal counsel. Individuals involved in the estate planning process should work with an estate planning team, including their own personal legal or tax counsel.
Businesses
Businesses
You know what it takes to build a successful business. It takes vision, preparedness, skills and desire – not to mention a focused dedication to achieving your goals. If you are like most business owners, you’ve worked hard and made many sacrifices to grow your business. That’s why you should put just as much energy into protecting it as you did building it.
Ask yourself these important questions:
Do I have a plan for my business when I retire?
Is my business capable of continuing its success in the event of my or my partner’s untimely death or disability?
Is my family adequately protected if something were to happen to me?
Have I done everything I can to attract, retain and reward the key employees that are critical to my business?
If you answered “no” to any of these questions, you may want to consider implementing a formal business planning strategy. Proper planning can help you protect your business, attract and retain key employees, and help ensure that your business transfers in the manner in which you choose.
No business plan is complete without a financial strategy for the unexpected. Start by exploring all your protection options. Then develop a long-term strategy that can help protect the continuity of your business should you, a partner, or key employee decide to retire, leave the business, or unexpectedly dies or becomes disabled.
Most business owners spend the majority of their time working in their business instead of on their business. We can help ensure that the business protection needs that are critical to the long-term success of your business are taken care of.
Employee Benefits
Employee Benefits
In today's highly competitive marketplace, it's becoming increasingly difficult for business owners to attract and retain top talent. Salary is no longer the sole compensation driver. Employees are also looking at an employer's overall benefits package and its potential to help address their real concerns of financially protecting their families in addition to adequately planning for retirement.
You probably already have a standard benefits package in place, one that includes medical and dental coverage, disability income insurance, and a retirement plan. However, your competitors more than likely offer a similar benefits package. These days, employees are looking for benefit plans above and beyond the standard packages that most employers already offer. These benefits often provide the primary incentive for key employees to join and remain loyal to your company.
Designing an attractive employee benefits package may seem expensive, but the tax considerations1 can help offset the overall cost, and its impact on current and prospective employees could be rewarding. Through our network of Financial professionals, we can help you provide an attractive employee benefits package for the employees that are most valuable to the success of your company.
Consider a few of the following options for your employee benefits program.
Annuities
Establishing individual retirement arrangements funded by annuities is easy for a small business. Offering this type of benefit may help you retain and motivate your company's employees.
Disability Income Insurance
Provide employees with income protection that supplements your company’s group long term disability plan in the event of a disability.
Executive Benefit Programs
We offer solutions that are designed to assist in recruiting and retaining executives.
Executive Group Life Insurance
Gain a competitive edge by providing valuable life insurance benefits to your executives and senior professionals.
Long Term Care Insurance
Help retain your employees and enhance your company’s benefits while taking advantage of possible tax savings.
Retirement Plans
Offering your employees a retirement plan is a way to help them save for the future and is a great incentive as part of an employee benefits package.
1 The information provided is not written or intended as tax or legal advice and may not be relied on for purposes of avoiding any Federal tax penalties. We are not authorized to give tax or legal advice. Individuals are encouraged to seek advice from their own tax or legal counsel.
Protect Your Business
Protect Your Business
As a business owner, you know being prepared for anything is part of who you are. If one thing is certain today, it’s that you can’t be certain about what will happen tomorrow. You can, however, be certain that you’ve taken action to help protect yourself and your business from the unexpected.
Think about what would happen to your business if you, your business partner, or a key employee were to unexpectedly die or become too sick or injured to work. There’s no doubt that this would have a tremendous impact on your business and its continued success. But there’s good news: this is something you can plan for.
Having the foresight to protect your business against the loss of an owner or an essential employee—perhaps the company's most valuable asset—can mean the difference between business as usual or closing up shop. Just as you would insure your business property, you should also consider insuring the people who have the biggest impact on your company’s success. We can help with business planning strategies that are designed to protect your business from the unexpected and help ensure the business you’ve worked so hard to build withstands the test of time.
Consider a few of the following options to help protect your business:
Disability Income Insurance
Most likely, your company has already taken the appropriate steps to protect the business in the event of the death of an owner or partner. But have you protected the business in the event of a more common scenario - an owner’s or partner’s long-term disability?
Life Insurance
Learn how life insurance can help you protect your business from the unexpected death of a key employee.
Long Term Care Insurance
Having long term care insurance is part of smart business planning and can help protect your business and family if a long term care need should arise.
Financial Management
Financial Management
Financial management is as much about managing operational risks as it is about managing business objectives. Whether you’re a fresh start-up or well-established enterprise, continued operational foresight can help ensure your success and your roadmap for the future. We offer an array of insurance products designed to help meet your needs.
Consider a few of the following options for good financial management:
Disability Income Insurance
Disability income insurance can help provide financial protection for both the owners and the company in the event of a disability.
Life Insurance
Find out how life insurance can help you create strategies to meet the short- and long-term financial goals of your business.
Retirement Planning
Retirement Planning
In today’s highly-competitive marketplace, it is becoming increasingly difficult to attract and retain top talent. Salary is no longer the sole compensation driver. Employees are also looking at an employer’s overall benefits package and its potential to help protect their families and prepare them for retirement. These concerns are heightened by ever-changing tax laws, pension plan uncertainties, and Social Security shortfalls. As a business owner, you can offer insurance and retirement benefits that can make a difference for both your employees and your business.1
Providing for your employees’ retirement can create a loyal and dedicated community around your business. A variety of retirement-planning products exist to provide the benefits that support your employees’ commitment to your business.
Consider a few of the following options.
Annuities
Establishing individual retirement arrangements funded by annuities is easy for small business owners. It may also help you and your employees achieve your retirement savings objectives.
Disability Income Insurance
Disability income insurance can replace a portion of an employee’s earnings in the event of a disability. Some policies may also help protect an employee’s ability to plan and save for retirement.
Life Insurance
Learn how life insurance can supplement2 your employees’ retirement planning strategy to help align with the goals of their golden years.
Long Term Care Insurance
Long term care insurance helps protect an employee’s assets and retirement plan and is part of a complete financial strategy.
Retirement Plans
Reward and attract talent to your company by helping them prepare for retirement. A wide range of group retirement products and services can help you maintain a long-term retirement strategy.
1 There may be implications under the Employment Retirement Income Security Act (ERISA) depending on how certain types of insurance policies are made available to employees and whether such an arrangement constitutes an “employee benefit plan” under ERISA. Employers should consult their own tax and legal advisors for further information on potential ERISA implications.
2 Distributions under the policy (including cash dividends and partial/full surrenders) are not subject to taxation up to the amount paid into the policy (the cost basis). If the policy is a Modified Endowment Contract, policy loans and/or distributions are taxable to the extent of gain and are subject to a 10% tax penalty. Access to cash values through borrowing or partial surrenders can reduce the policy’s cash value and death benefit, increase the chance the policy will lapse, and may result in a tax liability if the policy terminates before the death of the insured.
Annuities provide no additional tax advantages when used to fund a qualified plan.
Succession Planning
Succession Planning
The death or disability of an owner is one of the greatest threats to a business. Not only can it severely impact the day-to-day operation of the business, but it can raise all sorts of business succession and estate tax problems – proper succession planning can help.
Succession planning affects everyone who has an interest in the business—business partners, family members, and key employees. It is critical that you have meaningful discussions about often overlooked issues, such as who the ideal successor should be, what is the value of the business, and what is the timetable for transition. No matter what event occurs, either expected or unexpected, we can help you develop a succession plan that can help ensure a smooth transition according to your vision for the business’ future.
Consider a few of the following options:
Disability Income Insurance
A disability Buy-Sell policy is a great way to help ensure the orderly succession of a multi-owner business in the event of a long-term disability.
Life Insurance
Business succession plans using life insurance can help ensure that your business is protected.
Retirement Plan Options
Retirement Plan Options
Helping your employees achieve their retirement goals is one way in which your business organization, union or government entity can attract and retain top talent. We offer a full range of products and services for defined benefit/pension, defined contribution and nonqualified deferred compensation plans of all sizes. We can offer access to flexible service models, product offerings and investment options designed to help meet your needs.
Defined Benefit Plans
Commonly known as pension plans, defined benefit plans provide employees with a fixed benefit upon retirement that is typically dependent on salary, length of employment and age at retirement. Whether you are looking for a fully bundled, semi-bundled, or investment-only approach to plan service, or you are looking for a provider that can combine services for both defined contribution and defined benefit plans; service models can provide you with the flexibility you need to help achieve and maintain the goals you set for your plans. We can assist you whether your plan is active, frozen, or terminating.
Defined Contribution Plans
Defined Contribution plans are designed to help people save for retirement. The most common defined contribution plan is the 401(k), a company-sponsored, tax-deferred retirement savings plan. Growth in these plans typically depends on employee and/or employer contributions and investment selections. Companies of all sizes may offer them as a way to both attract and retain employees. We offer access to a full range of services across a broad range of markets and products, which allows us to deliver flexible, needs-based solutions.
Non-Profit Plans
If you represent a non-profit or other type of tax-exempt organization, we have options available that may support your organization’s retirement plan needs. We recognize the many challenges and nuances you face in managing your tax-exempt organization’s retirement plan. Whether you represent healthcare, a private non-profit or higher education entity, or a credit union, church, association or the government, we help bring tailored total retirement solutions to the table. We can offer a breadth of options to your organization, including 403(b), 401(k), 401(a), 457, defined benefit and non-qualified plan options.
Public Sector Plans
Help your hardworking public sector employees save for retirement. We can serve as a provider for 457(b) deferred compensation plans, 401(a) plans or grandfathered 401(k) plans. We can accommodate many solutions you may need, and can provide proactive service and support, flexible investment options and total retirement solutions.
Non-Qualified Deferred Compensation Plans
Competitive benefits packages can help attract, reward and retain key employees. A Non-qualified deferred compensation plan can help highly paid executives fill the gap between their pre- and post-retirement incomes. Non-qualified deferred compensation plans are a good fit for closely held organizations that may need a benefit to attract key non-shareholder employees.
Multiple Employer Plans (MEPs)
A Multiple Employer Plan (MEP) can enable an employer to provide its employees with the benefits of a well-managed retirement plan, while reducing administrative burdens and potentially helping to mitigate fiduciary risk. A MEP may be adopted by professional employer organizations and associations in order to provide 401(k) plan benefits to the employees of your client. The MEP product is designed to streamline the adoption process and minimize the expenses associated with establishing and maintaining a 401(k) plan for participating employers or member firms.
Taft-Hartley Plans
Taft-Hartley Plans are exclusively for labor unions to provide defined contribution and defined benefit plans to their members. As an experienced Taft-Hartley retirement plan services provider, we provide bundled solutions for trustee-directed defined contribution plans, member-directed defined contribution plans, and defined benefit plans for union trustees and members.
Attracting & Retaining Key Employees
Attracting & Retaining Key Employees
Talented and committed employees play a critical role in the success of your business. In today’s competitive marketplace, it is becoming increasingly more difficult to attract and retain top talent. With the staying power of our products and services, we can help you enhance your benefits package to compete more effectively.
Consider a few of the following options for attracting and retaining key employees.
Annuities
Establishing individual retirement arrangements funded by annuities is easy for a small business. Offering this type of benefit may also help you attract and retain key employees.
Disability Income Insurance
Individual disability income insurance coverage can help protect your employees’ ability to replace a portion of their income should they become too sick or hurt to work.
Executive Benefit Programs
We offer access to solutions that are designed to assist in recruiting and retaining executives.
Life Insurance
Find out how life insurance can help you attract and retain key employees by offering benefits above-and-beyond those offered to all employees.
Long Term Care Insurance
Give your company a competitive advantage by making an increasingly valued and sought-after employee benefit.
Retirement Plans
A great way to retain and attract top talent to your company is to help them prepare for retirement. Our wide range of group retirement products and services can help you and your employees maintain a long-term retirement strategy.
Corporate and Bank-Owned Life Insurance
Corporate and Bank-Owned Life Insurance
With corporate- and bank-owned life insurance, the employer, corporation or bank is both the owner and beneficiary of permanent life insurance covering the lives of participating executives.
Corporate- and bank-owned life insurance offers the following benefits to employers:
Corporate- and bank-owned life insurance can be used as a source of funds to help support deferred compensation and other post-retirement programs.
Bank-owned life insurance can be a source of funds that potentially offers annual after-tax returns that are higher than the returns earned on other bank investments.
Policy earnings may come from growth in the account value each year and from life insurance proceeds when an employee dies.
Policy earnings are tax-deferred until accessed.
The insurance amount is usually related to the benefits projected to be payable on the basis of current pay, or sometimes on amounts that anticipate some future pay increases. Each employee must consent to the corporation or bank owning the policy and must be notified of the policy’s maximum amount of coverage and beneficiary designation. In turn, the corporation or bank pays the premiums, owns the cash value of the policies, and is beneficiary of the policy.
Disability Insurance (Business)
Disability Insurance
Disability insurance can help provide financial security for both you as the business owners and the company in the event of a disability. Business owners will be able to maintain the business or transfer ownership of the company during an extended period of disability. Disability insurance can also provide benefits should principals become too sick or injured to work. These benefits can help to keep the business running or by providing multiple owners with a buy-out option.
Business Overhead Expense Insurance
Business overhead expense insurance provides funds to reimburse business owners for fixed overhead expenses, such as employee salaries, rent, leases, and utilities. Business overhead expense insurance premiums are generally tax deductible as a business expense and policies can be customized to the specific needs of the company.
Disability Buy-Sell Insurance
Your company may have life insurance to help protect the organization against adverse financial consequences that may result from a partner’s death. However, you shouldn’t overlook, and fail to plan for, a partner’s disability. A disability could make continued ownership of a partnership in a business all but impossible.
Disability Buy-Sell insurance is designed for small business owners to provide funds for the purchase of the insured’s share of ownership in the business in the event he or she is totally disabled. Policies are primarily designed for small partnerships and professional corporations. The owner may be the business, a trust, or each owner may own a policy on the other owners. The existence of a formal Buy-Sell agreement is required.
The concept of disability as it relates to a partner’s active participation in a business is often far more difficult to define and describe than most other buy-sell triggering events. For purposes of the Buy-Sell agreement, a disability Buy-Sell policy can provide, not only the funding for a partner buy-out, but the definition of total disability. This allows the insurance carrier, acting as an objective third party, to determine if a disability has occurred.
Disability insurance policies have exclusions and limitations.
Disability Income Insurance (Employees)
Disability Income Insurance
Disability income insurance can help protect an employee’s ability to replace a portion of their income if they become too sick or injured to work. If your employees become disabled, a group long term disability insurance policy can help protect a portion of their income and provide a fundamental layer of security for their financial future.
Offering supplemental individual disability income insurance in addition to a group long term disability plan is one way to provide higher levels of protection for your employees without incurring any additional costs.
Some disability income insurance policies may also help protect your employees’ ability to save for retirement. In the event of a long-term disability, you need to ensure your employees are adequately protected.
Individual, Fully Underwritten Disability Income Insurance
Individual, fully underwritten disability income insurance can be offered to employees to supplement employer-provided group long term disability benefits. Typically, group long term disability benefits cover about half an employee's net monthly income. Employees who have an individually owned disability income insurance policy can protect a larger portion of their income and customize the policy to fit their specific income needs. Individual disability income insurance coverage is non-cancellable to age 65 (provided required premiums are paid), fully portable, and may be available at a discounted rate.
Guaranteed Standard Issue Disability Income Insurance
Guaranteed standard issue disability income insurance is supplemental individual disability income insurance for employees. This coverage may help protect a higher amount of income than a group long-term disability insurance policy alone. Supplemental coverage can help reduce the gap between current earnings and benefits available through a group long-term disability insurance policy.
Advantages to employees:
Designed to replace a higher percentage of income when eligible for benefits under both policies
Covers a portion of bonus and incentive compensation
Advantages to employers:
Enriches employee offerings at no cost to employers
Allows for easy implementation
Disability income insurance policies have exclusions and limitations.
Note: There may be implications under the Employment Retirement Income Security Act (“ERISA”) depending on how disability income insurance policies are made available to the employees and whether such an arrangement constitutes an “employee benefit plan” under ERISA. Employers should consult their own tax and legal advisors for further information on potential ERISA implications.
Disability Buy-Sell Insurance (Succession Planning)
Disability Buy-Sell Insurance
Your company may have life insurance to help protect the organization against adverse financial consequences that may result from a partner’s death. However, you shouldn’t overlook, and fail to plan for, a partner’s disability. A disability could make continued ownership of a partnership in a business all but impossible.
Disability Buy-Sell insurance is designed for small business owners to provide funds for the purchase of the insured’s share of ownership in the business in the event he or she is totally disabled. Policies are primarily designed for small partnerships and professional corporations. The owner may be the business, a trust, or each owner may own a policy on the other owners. The existence of a formal Buy-Sell agreement is required.
The concept of disability as it relates to a partner’s active participation in a business is often far more difficult to define and describe than most other buy-sell triggering events. For purposes of the Buy-Sell agreement, a disability Buy-Sell policy can provide, not only the funding for a partner buy-out, but the definition of total disability. This allows the insurance carrier, acting as an objective third party, to determine if a disability has occurred.
Disability insurance policies have exclusions and limitations.
Executive Group Life Insurance
Executive Group Life Insurance
Executive Group Life (EGL) is group life insurance coverage designed to help executives and other senior professionals by providing a generally income-tax-free death benefit for their beneficiaries, as well as the opportunity to accumulate account value to meet future needs. Executive Group Life insurance enables most employers to enhance their executive benefits while still minimizing overall benefit costs.
As the employer, you can use Executive Group Life insurance to gain a competitive edge through the benefits provided to your executives and senior professionals. With generally higher death benefits than group life insurance, Executive Group Life insurance can protect an employee’s family while providing the ability to make additional premium payments (subject to certain limits) to potentially accumulate account value. Participants can access account values through loans and withdrawals to help fund future needs such as college tuition or supplementing retirement income1.
The Executive Group Life insurance program helps employers:
Deliver enhanced benefits to executives and senior professionals while simultaneously helping to control overall benefit costs;
Flexibly establish life insurance benefit amounts for their executives and senior professionals;
Recruit new talent and retain employees by providing valuable, life insurance coverage to a firm's executive benefit suite.
The Executive Group Life insurance also provides employees with:
Higher death benefit amounts for executives and senior professionals that usually exceed those available through the group term life insurance plans offered by many employers
Tax-deferred account value accumulation potential
Long-term, portable coverage for executives after they leave the firm; 2,3
The flexibility to borrow or withdraw accumulated account values from their certificate, providing them with an accessible source of funds to help meet their future needs.1
1 Withdrawals and decreases in Face Amount may have tax consequences. The insured should consult their tax advisor. Certificate withdrawals are not subject to taxation up to the amount paid into the certificate (cost basis). If the certificate is a Modified Endowment Contract, certificate loans and/or withdrawals will be taxable to the extent of gain and are subject to a 10% tax penalty. Access to account values through borrowing and/or withdrawals will reduce the cash surrender value and may reduce the certificate death benefit. Taking a certificate loan could have adverse tax consequences if
the policy terminates upon lapse or surrender or before the insured’s death.
2 Costs for portable certificates may be higher than those for active employees.
3 Coverage under some policies is portable provided the group policy is inforce when the employee leaves the employer.
The information provided is not written or intended as specific tax or legal advice. MassMutual, its subsidiaries, employees and representatives are not authorized to give tax or legal advice. Individuals are encouraged to seek advice from their own tax or legal counsel.
New Careers & Business Ventures
New Careers & Business Ventures
Whether you’re starting a new career or setting up shop in your first business venture, you need to take the time to assess your financial situation and make sure you have adequate financial resources and protection. A solid financial strategy can help protect you, your business, and your family. If you’re starting a new career, you’ll need to answer questions like, “Does your current insurance effectively cover you and your dependents?” or “How will these decisions impact my retirement plan? And if you’re starting a new business, you’ll need to consider your retirement and the eventual sale or succession of your business. Help put yourself in a better financial position in the future with careful planning now.
Calculators
Calculators
Need help planning your financial future? Use the calculators below to help understand your needs, then, contact our agency for a personalized approach to your financial strategy.
Insurance
Use this calculator to determine the total dollar amount and the Annual Percentage Rate (APR) for any additional charge you may incur if you pay your annual premium in installments.
How Much Life Insurance Do I Need?
How Would a Disability Affect My Finances?
Find out if your company's disability benefit plan is competitive by using our quick and easy benchmarking tool; compare your coverage to top companies.
Retirement
How Long Will My Estimated Retirement Savings Last?
What Will My Monthly Income Be in Retirement?
Personal Finance
How Much Do I Need to Save for College?
Business
How Would the Loss of a Key Employee Affect My Business?
How Would I Cover My Overhead Expenses If I Couldn't Work?
Are You Prepared for a Partnership Buyout After an Unexpected Event?