As an independent financial firm, we can pick and choose the products and services we want to provide for our clients. More importantly, we can choose the best company to provide those services to meet the clients’ needs and wants. We offer a large variety of services and a wealth of knowledge along with them.
Term Life Insurance
Term life insurance comes into play when you may only need coverage for a certain period of time. In the event of death during the term of the policy, a stated death benefit is paid to the beneficiary. Once the term expires, you may be able to renew or convert the term policy to a permanent policy as needed. We can help you figure out the appropriate amount of coverage for you.
Whole Life Insurance
Whole Life Insurance is a permanent insurance policy as long as premiums are paid for the insureds lifetime. These policies also hold a cash value that accumulates over time and grows at a guaranteed rate. Whole Life policies are also tax-favorable for retirement and provide a death benefit to the beneficiary. We can strategically design policies to fit your needs.
Disability Income Insurance
What would happen if you become sick or hurt and unable to earn income? Disability Income Insurance provides financial protection when life throws curveballs. Our advisors at Fortegic create plans that are custom-tailored to your needs and your specific income potential. We understand that life happens and we want to help you protect your largest asset, your income.
Universal Life Insurance
Universal Life Insurance policies are also a form of a permanent life insurance policy. A Universal Life policy also accumulates cash value in an investment savings capacity that is tied to market fluctuations. Universal Life policies are similar to Term Life in that they have a typically lower-premium option that is flexible with minimums to keep the policy in force.
Variable Universal Life Insurance*
If you’re looking for a life insurance policy with more cash accumulation a Variable Universal Policy can do just that. These permanent policies provide a stated death benefit while also accumulating cash value. The cash value accounts are invested into equities markets that you can choose per your risk tolerance. They are flexible policies that can be adjusted for premium amounts and benefits.
Indexed Universal Life Insurance
Indexed Universal Life policies are permanent policies that also accumulate cash value. Similar to the Variable Universal life policies, an Indexed Universal Life policy can have the cash portion invested how the owner wishes. Typically the Indexed Universal Life policies are tied to market indexes such as the S&P 500 and Nasdaq-100 or a fixed account. Our advisors can help create the best mix of policies to fit your needs.
Long Term Care Insurance
Making plans for your care later in life is an invaluable gift to provide your loved ones. It can feel overwhelming to think about your long-term care plans in life, but we believe the first step is understanding what options are available for you. Without thoughtful planning, long-term care costs can be substantial. A financial advisor at Fortegic can help you and your family decide the best option for a long-term care plan.
It’s never too early to start thinking about your legacy and how to develop your estate plan. Fortegic has the experience to help you create a well-rounded plan as well as minimizing the tax burden for your beneficiaries. Just with a financial plan, it is important to monitor these plans regularly, a Fortegic advisor along with your legal counsel can help you create an estate plan to reflect your wishes, values, and legacy.
Business Insurance Services
A buy-sell agreement is a contract providing for the sale of a business ownership interest when a specified event happens, like a death or retirement. But the plan has to be funded, not just agreed upon. Life insurance is an excellent way to help fund a buy-sell agreement and we can help.
Business Succession Planning
Change can happen and it can happen fast. Effective corporate planning allows businesses to have a system in place to make sure your business can adapt if an employee passes or leaves the company. The penalty of failing to plan a succession plan can be significant. Fortegic advisors will protect you and your business to avoid dispute, uncertainty, and disruption.
Key Person Insurance
We understand how hard you’ve worked to build your business, therefore it’s important to have established plans in place in case an important person is gone. Key-person insurance provides a death benefit to a business if the owner or a significant employee passes away. These policies are designed to provide resources to help the company recover. At Fortegic, we can help you make informed decisions about your insurance options.
Indexed annuities pay a set interest rate that is dependent on a specific market index. The process works through a contract between the buyer and the insurance company. Indexed annuities provide an opportunity for buyers to benefit when financial markets perform well. It’s important to select an insurance company that will provide the highest caliber of commitment and service.
A variable annuity is a contract between you and an insurance company that is tax-deferred. This means that you do not pay taxes on income or capital gains from your annuity. There are a multitude of features offered with variable annuities, so it’s important to understand the options available to help you make an educated decision.
A brokerage account enables investors to buy and sell assurances such as stocks, bonds, and mutual funds. The assets of the account belong to the investors where they must claim any capital gains as taxable income. We believe in full transparency and will help you find the best financial plan for your needs.
A traditional IRA is a personal account that an individual can contribute to and the dollars will grow tax-deferred until they are withdrawn in retirement. The IRS does place limitations on contributions into an IRA that are lower than a group retirement or 401(k) plan. A traditional IRA contains ‘qualified’ funds and therefore it is required to take an RMD once reaching age 72.
Roth IRA contributions are not tax-deductible, and qualified distributions are tax-free. This means you contribute to a Roth IRA using after-tax dollars, but as the account grows, you do not face any taxes on investment gains. Because you paid taxes on your contributions, you can actually withdraw them, penalty-free, at any time. However, you cannot withdraw earnings until age 59½ without being subject to the 10% early-withdrawal penalty.
A 529 Plan is a tax-advantaged savings plan that is designed to help save and pay for education. The savings in these plans grow tax-deferred and withdrawals are tax-free if they are used for qualified education expenses. Each individual state runs these, and their rules can differ. Talk to a Fortegic advisor about opening these accounts.
A 401(k) plan is the only employer-sponsored retirement plan and offers several benefits for employees’ future retirement. A 401(k) plan is not only a great employee benefit but is also a great way for business owners to save for retirement while receiving tax-favorable treatment. A retirement plan requires ongoing monitoring to ensure that it reflects your needs. At Fortegic, we have a strategic plan to monitor and maintain our 401(k) clients.
A 403(b) retirement savings plan is tailored to employees of public schools, tax-exempt organizations, and specific religious groups. Operating very similarly to a 401(k) plan, an employer and employee can both contribute to save for retirement. These are also great benefits for employees and business owners who want to save for retirement. Our team has a vast network of professionals who work specifically with retirement plans.
A profit-sharing 401(k) plan allows businesses to use a share of their company’s profits based on its earnings to contribute to an employee’s retirement plan. These plans are often paired with a company 401(k) plan as employees cannot contribute to a Profit-Sharing plan. The business owner has more control over this plan regarding contributions and can have discretion over when and how much to contribute.
A SEP IRA retirement plan is similar to a 401(k) and 403(b) plans in that the plan is employer-sponsored and has contributions from both parties. However a SEP IRA is owned by the individual participant and they are responsible for the investment elections and bound by IRA rules. It is designed for small businesses or self-employed individuals. SEP IRA’s also have higher contribution limits than a 401(k) or 403(b) plan.