Insurance and Risk Management
Risk management at Focused Financial Group is a review of what would happen to your family's or your business's finances if you died, became disabled or needed long-term care, and whether the coverage you have fits. We help clients in metro Atlanta compare life, disability income and long-term care insurance, and we review existing policies, including ones we did not sell.
How much life insurance do I need?
A common starting point is the income your family would need to replace, for how many years, plus debts to clear (such as a mortgage) and goals to fund (such as college), minus the savings and coverage already in place. Group coverage through work is a start but usually ends when the job does. The right amount is personal, and a needs analysis puts a number on it.
Term or permanent life insurance?
Term insurance covers a set period, such as 10, 20 or 30 years, at a lower premium, and fits needs that end, like raising children or paying off a mortgage. Permanent insurance (whole life, universal life, variable universal life) is designed to last a lifetime, builds cash value and costs more. Many families use term for the large temporary need and a smaller permanent policy for lifelong needs such as final expenses or estate liquidity. Policies have costs, and cash value growth in some policies is not guaranteed.
What does disability income insurance replace?
A portion of your income, typically 50 to 70 percent, if illness or injury keeps you from working. For most working people the ability to earn is their largest asset. Business owners can also use disability coverage to fund a buy-sell agreement or cover business overhead.
What are the options for long-term care?
Traditional long-term care insurance, hybrid life or annuity policies with a long-term care benefit, and self-funding. Premiums and underwriting depend on age and health, so the review usually starts in the 50s or early 60s.
When should a policy be reviewed?
At any life change (marriage, a child, a home, a new job, a business purchase), when a term policy's level premium period is ending, and every few years for permanent policies to confirm the policy is performing as illustrated.
Talk with us
Call 770-250-7588 or use the Contact Us page. Bring your current policies and we will review them with you.
Insurance products are subject to underwriting and have costs and limitations. Guarantees are based on the claims-paying ability of the issuing insurance company.