Skip to main content

PHILLIPS FINANCIAL

  • Phone: (209) 367-0868
  • Email: phillipsfinancial@lpl.com
  • Account Access

PHILLIPS FINANCIAL

  • Home
  • About
    • About Us
    • About LPL Financial
    • Our Team
    • Process
  • Client Center
    • Account Access
    • Courtesy Services
    • Calculators
    • Useful Websites
    • LPL Newsroom
    • LPL Financial Research
    • Video Library
    • Blog
  • Meeting Center
    • Appointment Prep & Registration Center
    • Appointment, Service & Inquiry Request
    • Go To Meeting
    • Zoom Meeting
  • Services
    • Courtesy Services
    • Estate Planning
    • Financial Planning
    • Insurance Services
    • Retirement Transitioning
    • Strategic Asset Management
  • Philanthropic
  • Contact

  1.  

  2.  

OUR COMMITMENT

As your Financial Professionals, we will do everything in our power to keep you focused on where you want to go, advise you on how to get there, and continually remind you of the importance of maintaining a disciplined approach to pursuing your dreams.

Contact Us

OUR PRINCIPLE

Our company is based on the principle that education and understanding of your current financial situation is vital to successfully make prudent decisions concerning your future financial condition. If you have any questions please Contact Us.

Contact Us

    You are here

  1. Home
  2. Services
  3. Insurance Services

Insurance Services

  • Share on Facebook
  • Tweet Widget
  • Linkedin Share Button

As much as we try to prepare for them, tragic events like death, disability or critical illness sometimes strike. When faced with such a situation, insurance can protect policy holders and their families from undue hardship. For this reason, a variety of insurance coverage is essential to any comprehensive financial plan.

Insurance planning is best when tailored to fit its owner’s personal situation: whether designed for a single person or family; professional or seasonal employees; executive or small business owner, everyone can benefit from an appropriately customized plan.

Life Insurance

Life insurance is more than planning for the security of one’s loved ones: it can be a cornerstone in any multi-generational financial strategy.

Life insurance can provide financial resources in a number of concrete ways, from immediate expenses such as hospital bills to income replacement and assistance in settling outstanding debts. It can also help with estate planning and charitable contributions. Furthermore, some forms of life insurance enjoy tax advantages, and so can be an ideal addition to any financial plan. In the event of death, life insurance offers surviving family members increased financial resources. As a tax-free lump sum payment, the so-called ‘death benefit’ can pay for final expenses and debts, as well as provide income for the deceased’s dependents.

There are two main ways to organize life insurance policies: term insurance and permanent insurance.

Term Insurance involves paying a premium to secure a death benefit payment to beneficiaries. It provides protection for a specified period and is usually renewable. There are several different kinds of term life insurance, including Level Term, Annual Renewable Term, Decreasing Term, and Return of Premium life insurance.

Permanent Insurance involves comparatively high premiums at first, but costs may drop significantly over the long term. Furthermore, some permanent insurance plans include a cash value, and associated tax-advantaged borrowing privileges. There are several kinds of permanent life insurance, including Variable Life, Whole Life, and Universal Life coverage.

The advantages of life insurance include:

  • An instant estate for loved ones at a time when funds are most needed
  • Death benefits are generally non-taxable
  • Life insurance plans with a cash value component offer tax-advantaged borrowing opportunities
  • Gain tax advantages and help support a charitable interest through a charitable life insurance program

Insurance coverage needs can change over time as your family dynamics and employment situations change. We are happy to review your current coverage to determine if it continues to meet your desired levels of protection and remains competitive for premium pricing and benefit provisions. Many insurance companies provide hybrid insurance coverage protections that provide accelerated benefits in instances of chronic illness and long term care shortfall insurance shortfalls.

We can help you select coverage from a variety of life insurance options should your current coverage fail to meet the needs identified in your financial plan.

Life insurance can play a vital role in your financial plan—contact us today to find out how.

 

 
Sources
 

 

Long-Term Care and Disability Insurance

Help guard against the impacts of an unexpected event through long-term care and disability insurance.

Unfortunately, present forms of federal and state-sponsored health care programs do not comprehensively cover long-term care. Medicare generally offers temporary assistance, while Medicaid, which varies by state, may require out of pocket expenses and very low levels of asset value before public assistance becomes available.

Long-Term Care and Disability Insurance

Income is important for both current financial obligations (e.g. grocery bills and mortgage payments) and for future financial resources (e.g. planning for a child’s education or for retirement). Just think what might happen if an income stream was lost through a long-term illness or disability. Long-term care and disability insurance products help protect the ability to earn an income, which can be affected by a disability or other condition.

Advantages of long-term care and disability insurance products include:

  • Helping maintain financial independence, lifestyle and long-term financial resources in the event income is impacted by disability

The two major types of disability insurance are Own Occupation Disability Insurance and Loss of Earning Disability Insurance. Own occupation disability insurance covers the ability of a disabled person to work in their own occupation, but may allow work in another job. Loss of earnings disability insurance provides payment for the percentage of income lost due to a disability.

A comprehensive financial plan can protect income through long-term care and disability insurance. Contact our office today to find out which policies may be a good fit for your unique circumstances.

Many insurance companies provide hybrid insurance coverage protections that may further account for accelerated benefits in instances of chronic illness, terminal illness or

Contact us today to learn more about benefits, products and services that fit the needs of your family or business.

Service Inquiry

 

 
Sources
 

 


 

 

 

Services

  • Courtesy Services
  • Estate Planning
  • Financial Planning
  • Insurance Services
  • Retirement Transitioning
  • Strategic Asset Management

Service Inquiry

Tell a Friend

  • Sitemap
  • Legal, privacy, copyright and trademark information
  • 1920 Tienda Drive, Suite 202
    Lodi, California
    95242 United States

  •  
  • Phone: (209) 367-0868
  • Toll Free: (855) 367-0868
  • Fax: (209) 367-0811
  • Email: phillipsfinancial@lpl.com
  • Go to Meeting

Securities and advisory services offered through LPL Financial, a registered investment advisor, member FINRA/SIPC.

The LPL Financial representative associated with this website may discuss and/or transact securities business only with residents of the following states: AK, AR, AZ, CA, CO, FL, ID, KS, KY, LA, MI, MO, MT, NC, NE, NJ, NV, OR, TN, TX, UT, VA, WA, WY
Fee-based investment advisory services available only to residents of: CA, LA, TX.
Phillips Financial is licensed to sell insurance products in the states of: AK, AZ, CA, FL, ID, OR, TX, WA.

 

 

 

 

© 2021 PHILLIPS FINANCIAL - The Lodi Area Retirement Specialist. All rights reserved.

Website Design For Financial Services Professionals