Services
We offer comprehensive financial care.
LIFE INSURANCE
Life insurance may be one of the least understood and most oversold products in the financial services industry. However, it is a financial instrument that can help protect your assets if you die a premature death. A multitude of life insurance products are available so it requires time and careful attention to evaluate the various products to determine what best suits your needs. By creating hypothetical scenarios, we can determine how much life insurance may be needed and for what amount of time. This information will lead us to the best and most cost-effective product options.
Life insurance also serves a valuable funding function, in the event that the insured dies. It can be used for funding things like family protection, estate tax planning, charitable giving, business continuation planning, and a host of other business-related financial goals.
By working with you to help you to understand what a life insurance product can and can’t do, we can align the right product to address your needs. We will also periodically re-evaluate policies to ensure they continue to provide the necessary protection, cost effectively.
DISABILITY INSURANCE
The probability of becoming disabled is actually far greater than dying a premature death, which is why disability insurance is essential. Many employers offer disability insurance to their employees. In many cases, this coverage can be increased at a relatively low cost while providing a more sufficient amount of coverage. If your employer does not offer this valuable group disability insurance coverage or if you are self-employed, you have several options for purchasing this coverage on your own. We will help you determine the level of coverage you may need to maintain your desired lifestyle if you were to become disabled. We do this by assessing your income, assets, and expenses, and weighing this against the various disability insurance coverage and cost options.
LONG TERM CARE INSURANCE
The need for long-term-care insurance increases as the average life expectancy rises. In fact, according to the Centers for Disease Control and Prevention, the average life expectancy for those living in the United States is 77.9 years. In evaluating the need for long-term-care insurance, we first determine whether you have adequate funds to afford the costs associated with long-term-care facilities or in-home care, if you and/or your spouse were to require this service. In situations where the answer is no, it is wise to consider long-term-care insurance to help protect against the financial burden, and even financial devastation, that can result from long-term-care or in-home-care expenses. We leverage analytical tools and models to help determine the right level of insurance, which then enables us to identify the right products for our clients.
HEALTH INSURANCE
Health insurance, and particularly the rate at which the healthcare industry is changing, can cause confusion. It can be a daunting task sorting through your policies to discern the coverage specifics and what makes the most sense in terms of coverage amount and affordability. Plus, who isn’t looking for ways to manage mounting healthcare costs? As one of our services at NJD, we help clients gain a better understanding of their healthcare policies. Often we can find other, more affordable, options in the marketplace that offer similar or better coverage. In addition, we teach clients how to track co-pays and deductible amounts to verify their insurance companies are accurately processing their claims.
AUTO & HOMEOWNERS INSURANCE
Auto and homeowners insurance coverage are both important, and although we are not in the business of property and casualty insurance, we do have a good understanding of the facets of these insurances. As we work on your financial analysis, we may make insurance recommendations, particularly regarding increasing deductibles. When doing a risk evaluation, we find that many of our clients are over-insured. In cases where the client is self-insured to a degree, we will illustrate how they can shift a portion of the risk to themselves—in essence self-insurance—to reduce their insurance premiums. Our clients can then use this information to decide if they wish to make any adjustments to their policies.
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