Insurance

Annuities

Many investors are attracted to the principal protection, tax deferral and income guarantees that many annuities have to offer. Though these guarantees are based on the claims paying ability of the insurance carrier and could involve higher fees than a mutual fund or stock portfolio, annuities may offer excellent advantages; the ability to participate in stock market returns while protecting your income stream.

During the accumulation phase, the period of saving, a lump sum payment or periodic payments are made into the annuity contract. These payments grow tax deferred until you decide to take an income stream.

If you decide to convert to a lifetime income stream, the terms of the payout amounts are structured to meet your needs. You may decide that you want your annuity to pay you a guaranteed income for life or just for ten years. Ultimately, this amount may exceed the amount you have contributed to the annuity contract. This is based on the tax deferred returns inside the contract and how long the contract pays you an income stream.

A range of annuity products are available and they can be modified as you proceed through each stage in life.

Fixed Annuities

These are best for conservative investors who seek a fixed rate of return or for those investors who seek a fixed investment to balance out the more aggressive assets in their portfolios.

Variable Annuities

These are best for moderate to aggressive investors who seek a choice of investment options managed by professional investment companies. Variable annuities invest in market-based securities, such as stock funds and bond funds, that can increase as well as decrease in value over time.

Long Term Care

Individuals purchase Long Term Care insurance so they will have help paying for in home and/or nursing home care. Long Term Care insurance provides coverage for most levels of care including skilled, intermediate and custodial care in a nursing home, assisted living facility, adult day care or at home.

Today, Long Term Care insurance is important for people of all ages so they may preserve financial security and independence in the event of an extended disability. The need for long term care isn’t restricted to the elderly—many working age adults have disabling injuries and illnesses as well.

Long Term Care is a very flexible product. Let us work with you to choose the policy that is best for you. We will help you determine the daily benefit amount (the amount the policy pays each day you need long term care) that is right for you, as well as the appropriate benefit period (the length of time that you will receive the daily benefit amount), and the elimination period (the number of days that you agree to pay for long term care before the policy begins paying). We are ready to answer your questions and help you choose the policy that fits your life and your lifestyle.

Life Insurance

By purchasing life insurance, you will provide financially for your loved ones after you die. Eligibility is determined by a variety of factors, such as your health and type of employment. Once the life insurance company has determined that you are eligible, the amount of your premiums—the payments for the policy— are based primarily on your age, gender, health and occupation.

Certain types of Permanent Life Insurance policies can also build cash values on a tax-deferred basis. You can use the cash value if you need to borrow money or make a withdrawal. Life events, like getting married, buying a house, starting a business, or sending a child to college are wonderful and smart reasons to add a life insurance policy to your financial strategy.

Estate Planning

Estate Planning is similar to a set of personal instructions. These instructions may include: how to pay your final expenses (and possibly estate taxes), how to distribute your property, who should be the person in charge of these duties, who will have the legal duty to care for your minor children, how your loved ones will receive their inheritance and what your legacy will be. Regardless of the instructions, each family’s estate plan will be unique and must be customized in order to fit that family’s estate planning objectives. Lebel & Harriman is uniquely positioned to help your customize your estate planning legacy.

Business Continuation Planning

Business owners make more than a simple monetary investment in their successful venture. They also invest time, energy and labor. As such, successful businesses thrive with the life-blood of their owners. The return on this investment need not be limited to the owner’s lifetime. With proper planning, the business may continue to provide benefits even after the owner’s death. Ensuring the survival of these benefits requires proper planning. For over thirty years we have helped business owners create a legacy by ensuring that their business is passed to the next generation in the most effective manner.