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Life Insurance is the flagship product of MKG Insurance Agency offers all types of life insurance including term life, indexed universal life, survivor-ship life, whole life, Disability, Critical Illness, Keyman, Buy Sell Agreement, Return Of Premium, Dynasty Trust.
MKG Insurance Agency is a local Fresno-Clovis area (CIA) Certified Insurance Agent representing Covered California, makes it simple and more affordable for you and millions of other Californians to get quality health insurance, including Medi-Cal, that can't be canceled or denied because of a pre-existing medical condition or if you get sick. Legal Residents of California may be eligible to buy health coverage through Covered California.
Do you need to protect your family? Would you like to create a tax free retirement? Life insurance allows you to accomplish both these objectives very efficiently and affordably.
Why Life Insurance In the event of a tragedy, life insurance proceeds can help cover everyday expenses, like the mortgage and household bills. The cash received from a policy (the death benefit) can help protect your family from being burdened with debt. In addition to helping meet your family's immediate financial needs, life insurance can also be used to help keep a business thriving, help finance future needs like your children's education or supplement your retirement funds.
You may know the distinct pride you get in purchasing your own home or car. Ownership can give a certain comfort, a certain satisfaction that your financial stability is solid, secure, and even permanent.
Wouldn't you like to feel that way about your family's financial future – even if you weren't around to provide for them? When you purchase life insurance, you select a plan that provides the right kind of protection for your family.
Indexed Annuities
If you want to limit potential losses while participating in the potentially attractive returns of a market-driven investment but would also like a guaranteed return, an indexed annuity might be worth checking out.
The performance of indexed annuities, also referred to as equity-indexed or fixed-indexed annuities, is tied to an index (for example, the Standard & Poor’s 500*). They provide investors with an opportunity to earn interest based on the performance of the index. If the index rises during a specified period in the accumulation phase, the investor participates in the gain. In the event that the market falls and the index posts a loss, the contract value is not affected. The annuity also has a guaranteed minimum rate of return, which is contingent on holding the indexed annuity until the end of the term.
The percentage of an index’s gain that investors receive is called the participation rate. The participation rate of an indexed annuity can be anywhere from 50% to 90% or more. A participation rate of 80%, for example, and a 10% gain by the index would result in an 8% gain by the investor.
Some indexed annuities have a cap rate. The maximum rate of interest the annuity will earn, which could potentially lower an investor’s gain.
Indexing formula
Several formulas are used to calculate the earnings generated by an indexed annuity. These indexing methods can also have an effect on the final return of the annuity. On preset dates, the annuity holder is credited with a percentage of the performance of the index based on one of these formulas.
Annual reset (or ratchet): Based on any increase in index value from the beginning to the end of the year.
Point-to-point: Based on any increase in index value from the beginning to the end of the contract term.
High-water mark: Based on any increase in index value from the index level at the beginning of the contract term to the highest index value at various points during the contract term (often anniversaries of the purchase date).
Indexed annuities are not appropriate for every investor. Participation rates are set and limited by the insurance company. Like most annuity contracts, indexed annuities have certain rules, restrictions, and expenses. Some insurance companies reserve the right to change participation rates, cap rates, and other fees either annually or at the start of each contract term. These types of changes could affect the investment return. Because it is possible to lose money in this type of investment, it would be prudent to review how the contract handles these issues before deciding whether to invest.
Most annuities have surrender charges that are assessed during the early years of the contract if the contract owner surrenders the annuity. In addition, withdrawals prior to age 59½ may be subject to a 10% federal income tax penalty. Any guarantees are contingent on the financial strength and claims-paying ability of the issuing insurance company.
* The S&P 500 Index is an unmanaged group of securities that is widely recognized as representative of the U.S. stock market in general. You cannot invest directly in any index, and do not actually own any shares of an index. Past performance is no guarantee of future results.
Placing Business with Assurity
AssurityBalance Business Overhead Expense Insurance (BOE) to help protect your business in the event of your disability.
AssurityBalance Business Overhead Expense Insurance (BOE) to help protect your business in the event of your disability. BOE’s advantages include: • Coverage of your business’s general operating expenses if you become disabled Solution • Flexible monthly benefit amount, and benefit and elimination periods • Affordable premiums that may be tax deductible* • Waiver of Premium and Rehabilitation Benefi ts may be available with total disability. Covered Overhead Expenses This policy pays for usual business operating expenses that are generally accepted as tax deductible. Examples of these expenses include: Employees’ salaries, wages and benefits Utilities (electricity, telephone, gas and water) Furniture and equipment Laundry, janitorial and office maintenance services Business insurance premiums, including property and liability insurance Accounting, billing and collection service fees Property and payroll taxes Interest payments on debts Other fixed expenses.
* Tax questions should be referred to your tax advisor. Choice of Elimination Periods Choose between 30, 60 and 90 days. Choice of Monthly Benefit Amount Your monthly benefit may be chosen from a minimum of $500 up to a maximum of $10,000. Maximums apply according to your occupation classification and current monthly covered expenses. Choice of Benefit Periods You may choose the benefit period that best meets your business needs – 12 or 24 months. Accumulating Benefit If your business’s monthly covered expenses are more than the monthly benefit, the excess expenses may be carried forward and paid in a later month where covered expenses are less than the monthly benefit. Waiver of Premium Your policy premiums are waived following 90 days of total disability. Rehabilitation Benefit If you become totally disabled, this plan may help pay the cost of a rehabilitation program.
Why Indexed Life is a Great Alternative to More Popular Retirement Savings Plans
The life insurance industry has the best IRS-approved retirement savings plan today -- and most advisors know nothing about it.
This retirement savings vehicle is not a qualified plan or an investment that goes inside one. It's also not a Roth. It's not an annuity or whole life. Despite sales of around $1 billion in 2009, it is the financial industry's No.
1 secret -- indexed universal life (IUL).
Why (IUL) Index Universal Life ?
To explain why IUL is better, we need to start with the fact that after a generation of use, qualified plans combined with variable investments are generally acknowledged as failures. A March 10, 2010 Employee Benefit Research Institute report states that "27 percent say they have less than $1,000 in savings. Fifty-four percent report that the total value of their savings and investments, excluding (home equity) and defined benefit plans, is less than $25,000."
One reason people fail to save is fear -- fear of losing the money anyway, so why bother? With the recent stock market plunges, various reports say many consumers, including those in their 20s and 30s, are too afraid to save in the market, despite the fact that that has been historically proven to be the best long-term place to save. But qualified plans are a different story.
In fact, TIME magazine devoted its Oct. 9, 2009 issue to "Why It's Time to Retire the 401(k)."
"The ugly truth is that the 401(k) is a lousy idea, a financial flop, a rotten repository for our retirement reserves," writes Stephen Gandel, a senior editor of Money magazine, in that issue of Time. "The solution: a new type of insurance. Retirement savings, it turns out, are exactly the type of asset we need insurance for ... to protect against the risks we can't predict and can't afford to recover from on our own. ... Recent opinion polls show people would be willing to give up [qualified plans] for a guaranteed return."
But workers -- and most financial advisors -- have absolutely no idea that a tax-free, market risk-free, gains-locked-in, congressionally-approved solution has been sitting right under their noses for 12 years. Indexed life's primary benefit is the fact that, like an indexed annuity (and unlike a mutual fund Roth), you keep all the gains and suffer none of the market losses. But there are many more benefits included that no other investment can lawfully offer, except maybe a Roth.
Land can be bought without a loan. You can actually buy land with an existing IRA or 401k, without additional funds needed, and with no tax consequences. Invest in land and reap DOUBLE-DIGIT GROWTH Find out how. - Land Banking Investor Introduction | CalChoice
Land Banking with CalChoice Investments helps you build wealth with research-driven land acquisitions. Major companies and investors have been building wealth this way for decades. You can too, with $40,000 or more in cash or existing investments.
Placing business with Transamerica
A Dynasty Trust is a form of irrevocable life insurance trust; also known as a Generation Skipping Transfer Trust, Legacy Trust and Family Bank Trust. The trust allows its creator to minimize transfer taxes and maximize the legacy left behind to children, grandchildren and future generations.
The Generation Skipping Transfer Tax (GSTT) applies to both outright gifts and transfers in trust to either related persons who are more than one generation below the donor or to an unrelated individual who is more than 37½ years younger than the donor. Now that the estate, gift and GSTT exemption amounts are unified at $5.34 million for 2014, significant amounts of wealth can be transferred without transfer taxes being imposed.
Why a Dynasty Trust?
A Dynasty Trust can help accomplish multiple goals: Passes wealth from generation to generation without the burden of transfer taxes.
Minimizes a beneficiary’s potential to mishandle an inheritance and keeps trust assets out of the reach of a beneficiary’s creditors or divorcing spouse.
Promotes positive behavior in beneficiaries by requiring that they adhere to specific standards in order to be entitled to trust distributions, such as graduating from college, maintaining a career, and getting married. Why Include Life Insurance in Planning with a Dynasty Trust?
Instant Liquidity
With a life insurance policy, clients can rest assured that instant cash will be available to their loved ones upon their passing.
Tax-Efficient
Life insurance proceeds owned by a Dynasty Trust will ultimately pass income tax-free to beneficiaries. In addition, the money that a client gifts to the trust to pay premiums may be sheltered from gift tax and will reduce a client’s estate for estate tax purposes.Furthermore, life insurance policy cash values grow on a tax-deferred basis and the death benefit of a Dynasty Trust-owned policy will be sheltered from estate tax. Guaranteed A life insurance policy can provide a comforting sense
of certainty. With a guaranteed universal life insurance policy, clients can rest assured that their loved ones will receive a minimum guaranteed death benefit.