Insurance can be an important part of a comprehensive financial plan. At Doffin, we incorporate insurance into our clients’ portfolios to protect against specific risks or provide additional income or growth potential. We help our clients find the right policy and strategy to meet their specific needs. The insurance vehicles we offer include:
An equity indexed annuity is a fixed annuity that earns interest at a rate based in part on the performance of an investment market index, such as the Standard & Poor’s 500 Index (S&P 500. Typically an equity indexed annuity guarantees an annual minimum interest rate and the return of the principal used to purchase the annuity. Any guarantees are based on claims paying ability of the sponsor. Policies will vary by riders, states, fees, surrender charges and individuals. These may not be for everyone and as such, it is important to speak with an advisor to find the right policy or custom plan for you.
A single premium immediate annuity is an insurance company contract purchased with a lump sum that begins to make income payments to the annuitant either right away or within 13 months.
Life insurance is an insurance company contract that obligates the issuer to pay a death benefit of a specific value to the beneficiaries named in the contract. Term life insurance provides coverage for a specific period of time, assuming the premiums have been paid, and can be renewed, while permanent life insurance provides life-time protection, and a portion of the annual premium accumulates as tax deferred savings.
Long-term care insurance is an insurance company contract designed to cover at least some of the cost of custodial healthcare for chronic but not life-threatening illness or the inability to perform the activities of daily living. Every policy provides a daily or monthly benefit for up to a predetermined period and has an elimination period, which lasts from the day the insured becomes eligible until the insurer begins to pay.