Insurance Planning

Insurance Planning

"Needing insurance is like needing a parachute. If it isn't there the first time, chances are you won't be needing it again."

– Anonymous

Insurance is the superhero of your financial plan.  When all your earthly efforts to make your plan happen are threatened by a loss of one’s life, income, or assets; insurance steps in to save the day.

Sage Advisors’ process of financial planning includes a thorough and frank look at what risks your goals are exposed to and then identifies ways to protect your plans from those risks.  We first explain the different products that can be used and how they work. We then analyze how much you need and for how long. Finally, we conduct a search for a reputable company offering what you need at a reasonable cost. We help you qualify for the right coverage and guide you on what to do when you do not qualify. As time goes by, Sage provides ongoing monitoring, consult, and service for the coverage you put in place.

There are a cast of superheroes in the insurance world:

Life Insurance

Life insurance can provide an estate for a family when they have not yet accumulated one that is self-sustainable.  It does not just provide income for survivors, it pays for funerals, future weddings, sends children to college, pays off debts such as large medical bills or a mortgage on the family’s home, and ensures retirement readiness for spouse’s or partners left behind. It can pay for long term care costs while you’re living, or it can be used to leave a gift to your favorite causes if you did not yet have the resources.

Anyone can quote you a price, but at Sage we go further to determine how this superhero can protect your vision of the future, and we guide you through the process from start to finish.

Disability Income Insurance

All your financial plans hinge on earning your income.  If we ask you to accomplish your goals with half of your income, would you be able to do it?

Statistics show that 1 out of 4 people will experience an event that takes them out of their work for 2 years or more. Cancer is the number one reason, but sports injuries, car accidents, heart disease, complications from surgeries, and illnesses are all reasons people can’t continue to work at the level they did, or in the occupation they held before the event.

This is the toughest insurance to qualify for and can be quite complicated.  It is underwritten for your health, age, income, occupation, and even your education level. If your income is key to reaching your goals, hoping things will all work out or relying on the generosity of others is not the best protection from this risk.

At Sage we work with you, negotiating the best way to integrate your employer benefits and individual coverage to keep your financial savings in place, and fill the gaps in your income.

Long Term Care insurance

We all want to remain independent, strong, and active for as long as we can.  But there will come a time when we need someone to replace our strength and help us stay active and healthy. It is an expensive set of services, no matter who or where the help is provided.

Medicare will not pay for it.  Your kids will be raising their kids and focusing on their careers. To qualify for governmental support requires an attachment of your income, spending your assets down, and losing control of who provides care, and where the care is provided.

Long Term Care planning is more than just insurance.  It is a process of understanding how your Medicare coverage, VA benefits, savings, and supplemental insurance(s) all interact. When you identify the interaction of your resources, you will uncover the massive potential costs of long-term care. Not making time to learn, discuss, and plan means you get what you fear: loss of control and independence.

We can discuss and help you with not only your own plan, but also plans for your parents, which will impact your savings and your financial goals. We help you determine what tools will help you the most. The best tool can be an insurance policy but it does not fit everyone’s situation. We help you sort through the resources and the various ways insurance products can help protect your assets and the viability of your family to carry on.

We’d love to help you figure out how to put these superheroes to work for you, free of any obligation. To arrange a time, call us at (206) 516-7991.

Life Insurance

Watch the video below to learn more about the first superhero you can use: life insurance.

Securities and advisory services offered, in states where licensed, exclusively by Russell D. Cole, CLU, ChFC, Jordan Cole, CFP®, Katherine Benjamin, CFP®, CLTC and Michaela Anderson, CFP® through KMS Financial Services, Inc., Member FINRA/SIPC and an SEC Registered Investment Advisor.

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