Life, Disability, & Long-Term Care Insurance Services
Insurance is a critical component of a comprehensive wealth management plan, and can protect your wealth and minimize the negative consequences of a premature death, significant disability or long-term illness. HBKS® insurance specialists are a part of your advisory team, advising you on a wide array of independent insurance solutions and helping you implement important protections for your family, including life, disability income and long-term care insurance.
Your HBKS® advisor, working with our independent general agency, can access a variety of insurance carriers in order to select appropriate products and coverage for you and your family. Our role as your advocate ensures objectivity, and our access to multiple carriers and products eliminates the need for you to shop for the most cost-effective solutions.
Our protection planning specialists will examine your existing insurance coverage, evaluating every aspect of each policy, including cost effectiveness, sustainability at the current premium and soundness of the insurance carrier. Changes to these key aspects of your protection plan, as well as changes in your own financial condition, can require new protection solutions.
Additionally, protection plan strategies are an essential component in achieving your estate planning goals. Our independent agents work with you and your other trusted advisors to minimize the impact of gift and estate taxes, maximize benefits for heirs, and address defective grantor trust and grantor retained annuity trusts.
HBKS® advisors and planning specialists are experienced and knowledgeable in the areas of corporate-owned life insurance, trust-based insurance used for estate planning purposes, key-person coverage, non-qualified deferred compensation, business continuation coverage, leveraged life insurance and other complex protection planning strategies.
Your HBKS® advisor and protection planning specialists will help you answer key questions:
- What role does insurance play in my financial plan?
- Am I paying too much for my life insurance?
- What kind of insurance do I need and how much?
- Do I need life insurance?
- Who should be the owner and named beneficiaries of my insurance policies?
- Who should be the beneficiaries of my retirement plan?
- Will the death benefit of my life insurance be included in my taxable estate for federal estate tax purposes?
- If I were to die today, are my life insurance death benefit and other assets adequate to meet my family’s needs?
If I were to become disabled, will my disability insurance meet my family’s basic needs?
If I were to become disabled, will my disability insurance protection allow our family to continue to make contributions toward our long-term goals such as retirement or our children’s education?
What are disability income insurance riders?
What are the most important policy features for me and my family?
How do government-sponsored disability insurance programs integrate with private policies?
How do disability income insurance policies define “disability” and “long-term vs. short-term”?
Should I buy a non-cancelable or a guaranteed renewable policy?
What is long-term care insurance and how does it work?
Do I or others in my family need long-term care insurance?
If I were to enter a nursing home, how would that impact my retirement and estate plan?
If long-term care insurance is appropriate for our family, which provisions are critical – daily benefit amount, benefit period, waiting period, inflation protection riders, etc.?
How do you coordinate long-term care insurance with government benefits?
What should I be wary of when buying long-term care insurance?
Are long-term care insurance premiums tax deductible? And do I have the option to deduct all or a portion of my long-term care insurance premiums through my company or employer?