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In addition to the common Life Insurance products such as Variable Life, Universal Life, Term Life, and Level Term, our Advisors also have the knowledge and experience to offer the following alternative products and services:
Estate Planning Instruments
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Life Settlement: In the past, there used to be two options when a senior had a life insurance policy that was no longer needed. The policy holder could either let the life insurance policy lapse or cash in the policy. Today, seniors have another option, and that is to sell their current life insurance policy to a financial institution that is willing to pay more for the policy in the secondary market than the original insurance company will allow for a cash-in. In addition to helping our client's with the sale, The Hartfield Companies Representatives can also assist in investing the settlement proceeds into other wealth accumulating products.
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Second-to-Die or Survivorship life insurance: The uniqueness of this type of plan is that while insuring two or more people, the death benefit is not realized until the last of the two or more individuals dies. This plan is specifically designed for estate planning and is the most cost effective means of paying estate taxes.
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Guaranteed Death Benefit: This type of plan, based upon annuities, gives the policy holder peace of mind by guaranteeing that his or her beneficiary will be protected from down markets and decreases in the account value at the time of the policy holder's death.
Business Planning Instruments
Personal Insurance
Our professionals also have access to a variety of carriers and a wide range of insurance products, as well as combined years of expertise, thus allowing us to create solutions for your specific personal insurance needs. Individual offerings include:
- Disability Insurance
- Long-term Care
- Individual Health Insurance
- Medicare Supplemental Insurance
The professionals at The Hartfield Company have the experience to advise and suggest the appropriate course of action when it comes to estate or business planning.
Variable Life, Life Settlements, and Guaranteed Death Benefit Disclosures: Variable life insurance products, which are subject to market risk including possible loss of principal, allow the contract holder to choose an appropriate amount of life insurance protection that has an additional cost associated with it. Care should be taken to ensure these strategies and products are suitable for your long-term life insurance needs. You should weigh your objectives, time horizon and risk tolerance as well as any associated costs before investing. Also, be aware that market volatility can lead to the possibility of the need for additional premium in your policy. Variable life insurance has fees and charges associated with it that include costs of insurance that vary with such characteristics of the insured as gender, health and age, underlying fund charges and expenses, and additional charges for riders that customize a policy to fit your individual needs. The sub-accounts in variable insurance products fluctuate with market conditions and when surrendered the principal may be worth more or less than the original amount invested. All guarantees are subject to the claims-paying ability of the issuing insurance company. Guarantees and do not apply to the investment performance of any variable accounts, which are subject to market risk and may entail added costs. This is authorized for client use only when preceded or accompanied by a variable product prospectus, that describes the investment objectives, risk factors, expenses, fees, and surrender charges that may apply. Clients should read the prospectus carefully before purchasing a variable product. Additionally, each sub-account contained within the variable product has its own separate prospectus that provides details on the investment style, focus, risks, and expenses associated with the sub-account. Clients should read these prospectuses carefully before directing money invested in the variable product to the underlying sub-accounts. The prospectuses for the underlying investment options can be obtained from your investment professional or by writing to The Hartfield Company. Investors should consult with their own professional advisor regarding the potential tax, estate, and legal considerations that may arise in connection with entering into a life settlements transaction. Proceeds from a life settlement transaction may be taxable under federal or state law to the extent the proceeds exceed the cost basis. The proceeds from a life settlement transaction may be subject to claims of creditors. The receipt of proceeds from a life settlement transaction may adversely impact eligibility for government benefits and entitlements. The amount received for the sale of the Policy may be impacted by the circumstances of the particular purchaser of the Policy, the insured’s life expectancy, future premiums, the death benefit, the terms of the Policy, and the current market for insurance policies, among other factors. The amount received for the sale of the Policy may be more or less than what others might receive for the sale of a similar policy. There may be high fees associated with the sell of a Life settlement.
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