Income & Assets Protection

Allegiance Wealth Management

Life is full of surprises. Generally, most of us don’t aware of the risk we face every day. We typically believe tragedy only happen to other people, but not to us. Unfortunately that is not the case in reality. The fact is we are all going to face with a possibility to experience some forms of adversities in life. While physical and emotional recovery is difficult enough, the financial impact of an unexpected disability, illness or even early death can be devastating.

Fortunately, there are many different type of solutions available to help us overcome an unplanned challenge such as premature death, extended disability, and critical illness. In the planning to protect your sources of income and accumulated wealth, we will analyze your current financial situation and needs, and determine the appropriate amount of financial capital that is required to mitigate the impact of the risks.

Life Insurance

For people who depend on you for support, a spouse, children or dependent adults, life insurance can play a fundamental role in their continued financial well being. In addition to making up for the loss of your income, the proceeds from a life insurance policy can be used to take care of funeral expenses and other costs such as a mortgage, loans or credit card payments. If you’re a stay-at-home parent, the role you play also needs to be covered because of the additional expenses associated with childcare if something happens to you.

There are two types of life insurance: permanent and term. They are two different types of protection that satisfy many different life insurance needs. Term may be all the life insurance you’ll ever need, or it may be used as an interim step before purchasing permanent insurance. Possibly, a combination of term and permanent in the same policy may be the best solution for you. Our advisors can show you the strengths of each and their differences.

Disability Insurance

The cash flow from employment may be your most significant source of income, should a disability prevent you from working and earning an income, it could have a significant impact on your ability to meet day to day financial responsibilities. A disability insurance plan can provide a monthly income benefit to help replace a percentage of your income in the event of a disability.

Critical Insurance

Suffering from a serious illness may result in additional and unexpected expenses related to medical treatment or drug cost not covered by the health care system, time off work, recovery and rehabilitation needs…etc. This may create the need for additional funding, over and above an income replacement plan. Critical illness insurance provides a lump-sum benefit which help to reduce the need to withdraw from your hard-earned assets that were accumulated for other purposes. Critical illness insurance is designed to help reduce your financial and emotional stress.

Long Term Care Insurance

As you age, health can decline. As a result, you may need in-home assistance with daily activities, which could reduce your independence. It could even result in the need to move into a long-term care facility to receive the care needed. The costs associated with long-term care are usually very high; you can deplete your retirement savings quickly if you are not financially prepared for it. Long-term care insurance is designed to protect you from the rising expenses of the long-term care needs.

Contact one of our advisors today to discuss an appropriate plan to meet your protection needs.