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3023 East Copper Point Dr. Suite 106 Meridian, ID 83642
Office: (208) 466-1971

 

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ASSET/INCOME PROTECTION - INSURANCE SOLUTIONS

A combination of documents, behaviors and products form the foundation for adequate asset and income protection. Documents will be discussed in greater detail in this section, and prudent behavior is generally outlined in the financial planning presentations phase. An articulated Risk Management Statement generated through the financial planning process acts as a guide to designing protection within the confines of a manageable safety budget.

Disability Income Insurance
The highest priority for protecting family income is adequate disability income insurance, because the greatest risk most families face is loss of income. Income from work provides most families the means to live. When that income stops due to a wage earner’s illness or injury, financial problems may arise. Ideally, a cash reserve will be established to provide money during the first few days or weeks of disability. Employers sometimes provide short-term (0-180 days) and/or long-term coverage. Both employer-provided and private policies should be evaluated and the optimum cost/benefit policy should be chosen.

Disability income companies consider occupation, income, and other factors when issuing policies. Our knowledge of underwriting practices and preferences of various insurance companies allow us to assist you in finding the best value for you. We are careful to evaluate information such as a policy’s definition of disability, whether premiums can increase, how recovery benefits are paid, and many other factors when recommending a policy for you to consider. We offer policies for individuals and groups.

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Health Insurance
Passage of health care reform adds complexity to an already opaque and convoluted health care delivery system. Adequate health insurance is an integral component of a sound financial plan and designing a health insurance plan is the first step in determining what type of policy to consider. Our affiliate, Treasure Valley Health Insurance, is a health insurance brokerage company—that means we work for you rather than any health insurance company. As such, we assess your unique situation and evaluate offers from several companies prior to recommending you consider a particular individual or group policy. Treasure Valley Health Insurance was formed to provide concierge service to its clients, helping to answer questions and solve problems after the policy is in place. We hold the insurance companies accountable for providing coverage and service for the policies they sell.

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Life Insurance
Our opinion is that term life insurance is the most logical choice the majority of the time. We have access to over 400 carriers and select companies based on quality of service, claims paying ability and underwriting considerations tailored to your specific needs. We also provide analysis of group versus private policies

There are several situations where permanent, cash value life insurance may be indicated. Permanent insurance is useful in planning to pay estate taxes. Other uses include passing money to an heir or charity, accumulating funds to provide future income, and as a source of capital to transfer a business interest or replace a key business person. In some cases life insurance may be used to solve a complex business or personal financial situation, combining asset protection, business transfer, and tax planning.

It is important to understand the consequences of failing to adequately fund any permanent insurance plan. We cut through the dizzying array of product options to design an insurance policy that addresses your particular situation.

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Long-Term Care Insurance
Protecting your retirement nest egg and assuring a comfortable lifetime income require a plan to address potential long-term care expenses. Statistically, more than half of us who reach age 65 will need help with long term care, which by definition is help with the activities of daily living for a period of 90 days or longer. Most people prefer to receive care in their home and the right long-term care policy can help you receive that care affordably and without forcing your family relationships to be compromised with care-giving. Long-term care insurance comes in a variety of policies, from traditional reimbursement for costs incurred to cash payments when you qualify for coverage to policies that combine life insurance and/or annuities with long-term care. In business situations, multi-life policies can provide coverage to individuals and extended family members who might not be able to obtain coverage under a traditional policy. As with other types of insurance, our independence allows us to evaluate solutions form a variety of carriers and plan designs to fit your needs and goals.

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Property and Liability Insurance
If you owe money on a home, vehicle, or business loan, adequate property and liability insurance can protect your savings from being decimated in a catastrophe involving your property or business. In addition to properly titling your property, insure can provide an umbrella of coverage for you. Through our affiliation with the WW Deal Insurance agency, and the largest independent agency in Nampa, we have access to tremendous expertise and competitive markets for home, auto, business, farm and other needs. Our on site proximity allows us to further integrate property and liability into your financial plan.

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Supplemental Insurance
Supplemental insurance includes coverage for cancer, critical illness, short-term disability, and other specialty situations. Supplemental insurance can be used to fill gaps in other insurance coverage as well as adding additional protection for unique risks. As brokers, we handle policies from multiple companies on both an individual and group basis

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Investment Advisory Services offered through Investment Advisor Representatives of Cambridge Investment Research Advisors, a Registered Investment Adviser. Securities offered through Registered Representatives of Cambridge Investment Research, Inc., a broker-dealer, member FINRA/SIPC, to residents of: Alaska, Arizona, California, Colorado, Florida, Idaho, Illinois, Kansas, Maryland, Massachusetts, Montana, Nebraska, Nevada, New Mexico, Oregon, Utah, Washington, Wisconsin. Cambridge and Cornerstone Financial Planning, LLC. are not affiliated.