Legacy Partners
Call us: 1.855.966.6884

Dental Insurance in North Hollywood, Sherman Oaks, Pasadena, and all the Surrounding Areas

Everyone is aware of the fact that oral health determines the overall health of your body. So, if you want to take care of the entire functioning of your body, you should make sure that your oral health and hygiene are protected. Along with visiting the dentist regularly, you should also make sure that financially too, you are covered when it comes to expensive dental treatments and procedures. Therefore, you should invest in a dental insurance program. We, at Legacy partners, are a full-service financial planning firm that provides insurance along with financial coverage for families, businesses, employees, and normal individuals. Right from healthcare, life, disability, critical illness, to a business partnership, tax-qualified plans, estate planning, and so on, we cover it all. With our quality insurance products and services and a substantial experience in this field, we have been able to create a solid customer base in areas like Glendale CA, North Hollywood, Northridge, Pasadena, Sherman Oaks, and Van Nuys etc. 

Are you still not quite sure whether you should opt for dental insurance or not? Then, here are a few reasons why dental insurance is a must for you. Take a look. 

Dental care can be extremely expensive. Right from teeth cleaning, teeth whitening, dentures, dental implants to tooth replacement, tooth extractions, braces, oral and cosmetic surgeries, everything can dig a big hole in your pockets. You will require dental insurance to cover the procedures. 

Sometimes even dental checkups can be a little out of your budget. Dentists also charge a huge amount of fees for their services. If you an effective insurance coverage, you can protect yourself from this huge expense. 

Any kind of insurance gives you a peace of mind, and similarly, dental insurance also assures you that your oral health is protected if anything goes wrong. 

So, if you want to avail our dental insurance policies, then quickly contact us today. 

Posted on: July 10, 2018 at 7:46 pm Categories: blogs

Estate Planning in Van Nuys, North Hollywood, Northridge, and all the Surrounding Areas

Do you have enough wealth and are suspecting that your estate will be taxed at the state or federal level? Then, you should invest in something called an Irrevocable Life Insurance Trust (ILIT). Usually, estate planning is essential to avoid paying a huge amount of estate taxes imposed by the state. Sometimes, people are forced to sell real estate, family business, or even stocks to raise cash for paying off the taxes.ILIT can help you with potential tax benefits. But it needs to be set up and monitored in the correct manner. But since it is a complicated legal arrangement, you will need professional assistance to complete it. The assets owned by the ILIT will not be considered as a part of your estate and therefore, cannot be used for inheritance or estate tax purposes. Your heirs will also not have to pay estate or inheritance taxes for these. We, at Legacy Partners, can be the ideal solution for you. We are one of the leading insurance companies in and around areas likeGlendale, North Hollywood, Northridge, Pasadena, Sherman Oaks, or Van Nuys, and have comprehensive insurance programs for life, health, disability, business separation, and even estate planning, and so on. So, you should resort to us for your ILIT creation or related advice.
Here, we have a few benefits of opting for ILIT. Take a look.
  1. Easy Premium Payments
The premiums of the life insurance policy will be paid by the trust. The granter has to transfer an adequate amount of money into the trust or pay straight away make the payment in behalf of the trust to cover it.
  1. Tax Benefits
ILIT makes the insurance premium payments with the gifts made to the trust. These gifts are no longer a part of the estate and the benefits distributed among the heirs will not be a part of the estate for tax benefits.
  1. Death Benefits
Death benefit is not put under taxable income by the IRS irrespective of whether you own an ILIT or not.
So, if you are interested in this insurance plan, then you should get in touch with us.
Posted on: June 22, 2018 at 8:26 pm Categories: blogs

Business Separation Insurance in Glendale, North Hollywood, Northridge, and all the Surrounding Areas

Do you a run a business with partners? Then, you should both try to protect your business against the unexpected. You should opt for the buy and sell agreement and business separation insurance. This basically creates a market for your business after one of the co-owners decease, exits from the business, or becomes disabled.This is also a primary component of your estate planning strategy, especially for the small business partners. So, without any delay, you should first look for the right provider of such an insurance coverage for your business. We, at Legacy Partners, can help you. We are an experienced and reputed name in the industry, catering to several people with a wide array of insurance products and services including life, health, dismemberment, dental and vision, disability, long-term care, critical illness, education planning, buy and sell agreement, estate planning, and so on. So, if you are based in areas likeGlendale, North Hollywood, Northridge, Pasadena, Sherman Oaks, and Van Nuys, you can resort to us. 

Here, we have enlisted a few questions that you might have about business separation insurance. Take a look.  

  1. How can a buy/sell agreement help 

This is basically a cross purchase plan. If you are involved in a partnership business and are planning your estate, and realize that the business is the most precious asset for both of you. Then, if you die before your business partner, he or she would definitely want to continue running the business, and vice versa. But how to continue your estate planning in such a scenario? In this case, this kind of a business separation insurance would be useful. 

  1. How does this work? 

Firstly, both the business partners have to determine the value of their shares in the business. If one partner dies, then the insurance proceeds will be received by the partner who survives. This money will be used to purchase the deceased partner’s share from his or her family. The family makes use of the liquidity while the surviving partner gets hold of the business. 


So, if all your queries have been effectively solved, then you can opt for this. In order to avail our insurance plans, you can call us at 1.855.966.6884 now.  

Posted on: June 12, 2018 at 8:26 pm Categories: blogs

Dental Insurance in Glendale CA, North Hollywood, Northbridge, and all the Surrounding Areas

Most of the people raise their eyebrows when they hear the phrase, dental insurance. But they must realize that is a priority. One should maintain good oral hygiene for the sake of their overall health. We, at Legacy Partners, are a full-service financial planning firm that has been catering to individuals, families, as well as businesses with insurance protection for a number of things, starting with life, health, disability, accidents etc.  

So, why is dental insurance a necessity? Here are a few points that will tell you. Take a look.  

  1. Overall Health: Oral health is an important part of our body and can affect several other functioning of our systems. For instance, poor oral health affects patients suffering from heart problems and diabetes. Or an inflammation in the blood vessels can be caused by an inflammation of your periodontal disease leading to stroke or heart attack. Insurance can make sure your oral health is maintained, thus preventing you from a major drawback in your life. 
  1. Confidence:Discolored or crooked teeth can affect the smile of a person, thereby having a direct impact on their appearance as a whole. People’s confidence and self-esteem can be severely destroyed. Although policies may vary from one another, most of them include daily and preventive dental care which can take care of this issue. Some of them also cover bridge work along with orthodontic treatments.  
  1. Exorbitant Emergencies:Nobody plans for a cavity, infection, or broken tooth. These have to be dealt with as and when they crop up. Such emergency costs can be exorbitant and can be difficult for people to pay an entire bill all at once. But these can be met effectively with dental insurance, saving you from drilling a huge dent in your pockets.  

So, if you live in and around Glendale CA, North Hollywood, Northridge, Pasadena, Sherman Oaks, or Van Nuys, quickly give us a call at 1.855.966.6884 today.  

Posted on: May 15, 2018 at 11:42 pm Categories: blogs

Medicare Supplemental Insurance in Northbridge, Pasadena, Van Nuys, and the Surrounding Areas

Having regular health insurance and Medicare is no longer enough at present times. Even though it benefits people at large from a wide range of expenses, it still has a few gaps here and there. Therefore, one needs to look for a coverage that will bridge these and offer you a complete protection against health-related anomalies. We, at Legacy Partners, can provide you with Medicare supplemental insurance in and around areas like Glendale, North Hollywood, Northridge, Pasadena, Sherman Oaks, and Van Nuys. This sort of insurance coverage is one of the retirement benefits one applies to the government every year.  

So, here we have put together a few ways in which this insurance coverage is essential for you. Take a look.  

Medicare comprises of 4 different sections. Part A includes inpatient hospitalization. Although being under the Medicare program, you are free from any monthly premium payment, the problem occurs when one has to make certain out-of-pocket payments. A deductible of more than $1300 is to be made for every benefit period, and there are more often than not huge copayments for hospital stays that go beyond 60 days. It is these gaps that can be rightly filled by the Medicare supplemental insurance.  

The expenses do not end here. Part B of the Medicare covers outpatient treatment and doctor visits. Along with a monthly premium of over $100, there is also a decent deductible. But this program only covers 80 percent of the Medicare approved physician services. The rest of the 20 percent is to be paid by the patient. That is where this sort of insurance coverage can help you.  

Part C of the Medicare is provided by the private insurers while Part D consists of the prescription drug component. For both, premiums, deductibles, and copayments have to be made which cannot be merely covered by your Medicare. You need the supplemental insurance plan for support.  

If you want to know more about this insurance, call us at 855-966-6884 now. 

Posted on: March 16, 2018 at 2:35 am Categories: blogs

Disability Insurance in Glendale, North Hollywood, Northridge, Pasadena, Sherman Oaks, Van Nuys

Were you hit by a bus, car, or any other vehicle a few months back and hurt badly, which is why you can’t even walk and visit your office? And, are you the only one in your family who earns for the livelihood? If yes, then you should immediately purchase disability insurance. This is a policy that pays benefits if you become disabled or hurt, and cannot visit your workplace for a long period of time. Wondering, from where should you purchase this policy from? Well, if you want to purchase this from a company that has years of experience, an excellent team of agents and provides this kind of policy at affordable premium rates, then come to us, Legacy Partners.

If you purchase disability insurance (DI) from us, you’ll receive monthly “paycheck” so that you can pay your everyday living expenses such as:

To know more about the disability policies we provide, please give us a call at 1.855.966.6884 immediately.

Types of Insurance Policies That We Can Provide

Apart from selling disability insurance, here are a couple of other policies that we can provide you, such as:

Other Services We Provide

Oh, wait! If you are thinking that we, Legacy Partners, are only popular for providing a wide variety of insurance policies in and around Glendale, North Hollywood, Northridge, Pasadena, Sherman Oaks and Van Nuys, then that’s your misconception. Here are a couple of other services that we provide. Read on to know more.

Want to know more about our agency? If yes, then please go through our website thoroughly.

Posted on: January 31, 2018 at 4:49 pm Categories: blogs

Dental Insurance in Glendale, North Hollywood, Northridge, Pasadena, Sherman Oaks, Van Nuys

Finding an agency that provides dental insurance in and around Glendale, North Hollywood, Northridge, Pasadena, Sherman Oaks and Van Nuys, can be a difficult task. Because there are not many companies that provide dental policies. However, there’s nothing to worry about because there’s one company that has been providing dental policies to the people living in the aforementioned areas for almost more than 50 years. Thinking, which company is that? Well, it’s none other than Legacy Partners. We are not just popular because we have immense experience, but also because we provide dental policies at very affordable premium rates. So, waste no more time and purchase this insurance from us.

What? Not sure whether you should choose us or not? Well then, why don’t you go through the feedbacks of our clients? And to check the feedbacks, here are 3 easy things you can do. Take a look.

Want to know more about us? If yes, then give us a call at 1.855.966.6884 now! And for any other queries, mail us at info@myagentla.com.

Posted on: January 25, 2018 at 4:29 pm Categories: blogs

The Top 3 Reasons for Getting Life Insurance in Los Angeles, Hollywood, Burbank, Glendale, Sherman Oaks and Pasadena, CA

If you have ever lost a loved one, you surely know how great a grief this is. In such circumstances, if the finances are not steady, it can become an overburden. So, everyone must resort to a practical solution and ensure that their family is not suffering financially after their demise. You will also not want your loved ones to undergo this kind of a situation, right? Then, you need to get in touch with us, at Legacy Partners. We offer all kinds of life insurance, from Term Life to Whole Life and Universal Life Insurance, which will prepare your family financially to continue with life even after you pass away.

Here are the topmost reasons why life insurance is necessary for all. Take a look.

  1. Replacement of Lost Income

Life insurance provides your loved ones with a financial security after your death. This is all the more important if you are the sole earning member of the family. There are so many living expenses to be taken care of, right from daily food, clothing, and shelter, to the future plans of your children or debt payments, if any. Having adequate coverage can cater to all of it in your absence.

  1. Build Cash Value

You can build cash value over time if you opt for Whole Life Insurance. This provides permanent coverage that ends if you terminate the policy. The cash value is like an added cushion that you can tap at any point in time, especially beneficial for the sudden fiscal emergencies in life.

  1. Meet Funeral Expenses

Lastly, life insurance can help you meet the burial expenses. As you know, a major amount of money is spent on the funeral services. Instead of spending the savings of your family which can be used for more important things, it is wiser to opt for life insurance which can give the beneficiaries the money for your funeral requirements.

So, if you are from Burbank, Glendale, Hollywood, Los Angeles, Pasadena, or Sherman Oaks, you can come to us, at Legacy Partners, for quality life insurance. Call us at 1-855-966-6884 now.

Posted on: December 8, 2017 at 5:26 pm Categories: blogs

Consider This When Buying Health Insurance in Burbank, Glendale, Hollywood, Los Angeles, Pasadena and Sherman Oaks, California

Diseases and ailments always walk into your life without a warning. Therefore, the only way to welcome them is by taking added protection. Just as you maintain a healthy lifestyle in order to steer clear of diseases and germs, you should also insure yourself against all kinds of health anomalies. Purchasing health insurance is one of the most practical and beneficial decisions of your life. We, at Legacy Partners, understand and are completely aware of the importance of insurance in your lives. Hence, we can offer you a broad range of healthcare plans and options such as the Obama Care, Private Health Insurance, etc.

So, what do you look for when you purchase health insurance? Here are a few things you must consider. Take a look.

  1. Check the Coverage

Before purchasing any health care plan, take some time out and go through the policy in details. You surely have a set of priorities in mind. So, take it out and start crossing your checklist to see if the company you have selected for this is catering you with products that cover all your requirements. Certain plans may often leave out a few elements like your doctor’s fees or other additional medical expenses. Be very clear and transparent before purchasing it.

  1. Know Your Budget

You must have kept aside a budget for your health needs, amongst which there would be one for insurance as well. So, whenever you are choosing a company for your healthcare options, make sure their premiums are feasible for your budget or not. It is wiser to go for companies that offer a ‘Free Quote’ facility so that you can understand whether this sort of a plan is affordable for you or not.

So, what are you still thinking? Now that you know about the two essential things to look out for while buying health insurance, search for a reputed insurance agency near you. And if you are from Burbank, Glendale, Hollywood, Los Angeles, Pasadena, or Sherman Oaks, and are keen on buying it from us, give us a call at 1-855-966-6884 today.

Posted on: November 6, 2017 at 5:12 pm Categories: blogs

Medical insurance, long term care insurance, life insurance, health insurance, disability insurance, in Hollywood, Los Angeles, Pasadena, Burbank, Sherman Oaks, Glendale, CA

The future is very uncertain and you never know when you will fall sick or suffer from an accident. Therefore,  you should immediately get medical insurance for yourself and your family members. Planning to get such policies in and around Burbank, Glendale, Hollywood, Los Angeles, Pasadena, and Sherman Oaks? There are many companies in these areas that can provide you with insurance services. However, all of them are not reliable enough. If you want to go for a company that you can trust on, then hire Legacy Partners. We have gained a lot of expertise when it comes to providing our customers with this kind of insurance solutions. Our numerous years of experience and affordable prices make us so popular among our customers.

The following points will give you a brief idea about the things you must keep in mind while hiring professional medical insurance services.

So, these are the things you must check while hiring a company for this kind of crucial insurance policies. If you live anywhere in and around Burbank, Glendale, Hollywood, Los Angeles, Pasadena, or Sherman Oaks, then give us a call at 1.877.406.7222 without any further delay.

Posted on: October 29, 2017 at 3:12 pm Categories: blogs

Long term care insurance, medical insurance, disability insurance, life insurance, health insurance, in Burbank, Hollywood, Los Angeles, Pasadena, Sherman Oaks, Glendale, CA

The future in unpredictable and buying long-term care insurance will prepare you for uncertain situations in life. It provides help with various activities like respite care, adult day care, home health care, nursing home care and etc. Are you looking for such insurance services in and around Burbank, Glendale, Hollywood, Los Angeles, Pasadena or Sherman Oaks? There are many companies in these areas that can provide you with these services. However, when it comes to hiring a company, you must always go for the one that is trustworthy and reputed enough. One such reliable company is Legacy Partners. We are a financial planning firm that has gained a lot of popularity for providing insurance and financial protection to business houses, families, business owners and their employees.

But, if you are still doubtful about hiring us, then have a look at this blog.



So, these are the few reasons why you should choose us for long-term care insurance policies. Hopefully, you are convinced by now. We also provide other insurance policies. You can go through our website to know about them or simply, give us a call at 1.877.406.7222.

Posted on: October 22, 2017 at 3:17 pm Categories: blogs

Burial Insurance in Glendale, North Hollywood, Pasadena, Sherman Oaks, Northridge, Van Nuys & Surround California Areas

When you’ll be approaching your final days of life, the last thing that you’ll want to leave behind with your family is with the burden of medical bills, funeral costs and legal fees, isn’t it? So, why don’t you purchase a burial insurance now, so that you can give your family a financial back up after your demise? If this idea sounds good then, immediately visit an insurance agency in your city and buy this useful policy. There are plenty of agencies in and around Burbank, Glendale, Hollywood, Los Angeles, Pasadena and Sherman Oaks, which can provide you with a burial policy. But, if you want to purchase this policy from a “reliable” company then, Legacy Partners Insurance & Finance Inc is the right choice for you.

Now, you must be surely wondering, why we’ll be the right choice for you? Well, here are some points that will give you the apt answer to this question. Read on.

Types of Insurances We Can Provide

If you are thinking that Legacy Partners only excels at providing burial insurances then, you are seriously mistaken. Here’s a list of other policies that our company can provide you. Take a look.

After going through this blog, if you feel that you can rely on us then, give us a call now at 1.855.966.6884.

Burial Insurance is available in Hollywood, Pasadena, Sherman Oaks, and surrounding areas like Burbank, Glendale, Los Angeles, and more. AD&D Insurance, Business Insurance, Home Insurance are available in our service areas.

Posted on: September 22, 2017 at 2:38 pm Categories: blogs

AD&D Insurance in Glendale, North Hollywood, Pasadena, Sherman Oaks, Northridge, Van Nuys & Surrounding California Areas

None of us know what’s waiting for us in future. Forget about future, we don’t even know what’s going to happen after a couple of minutes. That is why, it is always wise to purchase an ad&d insurance (Accidental death and dismemberment) for yourself so that, your family can get some financial support after your sudden demise due to an accident. This policy will also give your family a financial back up if you lose a bodily appendage or eyesight. Hence, wait no more; find a reputed insurance agency and purchase this policy. There are numerous companies in Burbank, Glendale, Hollywood, Los Angeles, Pasadena and Sherman Oaks that provide this insurance policy. But amongst them, there’s one agency that has managed to “stands out” and that is, Legacy Partners Insurance & Financial Services, Inc.

Wondering, what’s so special about our company that makes us “stand out” amongst the other insurance agencies? To know our specialties, keep reading this blog.

So, these were the three things that make our company “stand out” amongst others. To know about other specialties of our company, call us now at 1.855.966.6884.

AD&D Insurance in Burbank, Glendale, Hollywood, and surrounding areas, like Los Angeles, Pasadena, Sherman Oaks, and more. Burial Insurance, Life Insurance, Home Insurance, and Business Insurance are also available from our service areas.

Posted on: September 15, 2017 at 2:37 pm Categories: blogs



“If only I could get a better break.”

“If only I had some money.”

“If only I would’ve married the right person.”

“If only I worked for the right company.”

“If only I had the right parents.”

Do you pull back from taking full personal responsibility for yourself? Many of us do. We think that a parent, a teacher, a friend, a boss, a spouse, the company we worked for, or some governmental program should shoulder our burden for turning our lives into what we want them to be. This approach can’t get the job done. Other people and organizations have too many pressing challenges and priorities of their own. What does this mean? That you’ll always be disappointed when you depend on others for the things you must do for yourself. It’s so easy to justify the temptations of freeloading, to slide into being a follower, to fail to see the hidden price tag in the handout. Unless you take complete control of your life and assume full personal responsibility for yourself, who will?

No one will.

Every dollar you earn is worth ten given to you. Earned money creates the self-image of selfreliance; given money creates the self-image of other-dependence. This is why some families stay on welfare for generations. Hangers-on and free-loaders are the most frustrated people on earth because they have created their own frustrations. You can’t be successful and happy until you earn the respect of the toughest, hardest to fool, and most important judge in the world: yourself.

Posted on: September 28, 2015 at 11:28 pm Categories: blogs

How Many People Are Financially Independent During Retirement?

Most people want to be financially independent during their retirement years. Government statistics, however, tell a different story.

According to the Social Security Administration, of people age 65 and older:

ssa stats

Source: Social Security Administration, Office of Policy, Income of the Population 55 or older, 2012; released April 2014


Which group will you be in?

The secret to financial independence at retirement is to commit to a plan today, while you’re working and earning an income, a portion of which can be saved for your future financial security!


Sources of Retirement Income

If you are like many small business owners who are hard at work today growing their businesses, you are also concerned with how to most effectively secure a comfortable retirement for the future. When you retire, your retirement income will depend on three primary sources:


According to the Social Security Administration, the average retired worker in 2015 receives an estimated $1,328 monthly benefit, about 40% of average pre-retirement income. As pre-retirement income increases, however, the percentage replaced by Social Security declines.


You may be eligible to participate in a retirement plan established by your employer and receive pension income at your retirement. You may also be able to contribute to an individual retirement account (IRA) to supplement Social Security and pension benefits.


For many people, there is a gap between the retirement income they can expect from Social Security and employer-sponsored plans/IRAs and their retirement income objectives. Home equity can be used to bolster retirement security. Personal retirement savings, including bank and brokerage accounts and insurance and annuity contracts, can be used to bridge a retirement income gap.



Posted on: September 24, 2015 at 7:01 pm Categories: blogs

What Sources of Funds May Be Available to Help You Financially Survive a Critical Illness?

Health Care Insurance: While health care insurance will cover a portion of the direct costs associated with a critical illness, these plans typically require payment of deductibles, coinsurance and/or co-pays, which can range from $2,000 to $10,000 or more in out-of-pocket costs to you before the plan provides 100% coverage. If you elect out-of-network care from a specialist or nationally-recognized hospital, you may face significant additional expense, plus the cost of travel and lodging. In addition, indirect expenses associated with recuperating from a critical illness, such as modifications to a home or vehicle, child care expenses and convalescent care, may not be covered. It is important for you to know what your health care plan will and will not cover before a critical illness strikes.

Disability Income Insurance: Disability income insurance benefits typically replace a portion of your income if you are sick or hurt and unable to work. If you are covered by disability income insurance, you need to know the answers to questions such as these:

      How long must you be disabled before benefits begin?
      How much is the benefit you will receive?
      For how long will the benefit be payable?

Social Security Benefits: Assuming that you qualify, Social Security disability benefits do not begin until the sixth full month of disability and are generally not adequate to replace your earning power.

Savings and Investments: A single critical illness could consume the assets you’ve worked a lifetime to accumulate.

Ask yourself…if you suffered a critical illness and were out of commission for three to six months, would you be able to survive financially? If the answer is no, contact my office  and we may be able to help.

Posted on: September 10, 2015 at 10:02 pm Categories: blogs

What type of plan is best for your family?

Most insurance companies offer 3 types of coverage plan products, which define what doctors and hospitals you can visit and how you access certain health services.

  1. HMOs (health maintenance organizations) only cover visits to doctors and hospitals inside the plan’s network. HMO’s often require members to get a referral from their primary care doctor to see a specialist.
  2. PPOs (preferred provider organizations) pay for visits to doctors both inside and outside the plan’s network, but members pay a higher amount of the cost for out-of-network care.
  3. EPOs (exclusive provider organizations) generally don’t cover care outside the plan’s network, but members may not need a referral to see an in-network specialist.

Be careful when choosing your plan, as not all HMOs,PPOs and EPOs are the same. Be sure to get all information about what doctors and hospitals are covered, and what it will cost you to see a doctor out of the network.

Our specialists will help you choose the best coverage plan.

Posted on: September 10, 2015 at 6:39 pm Categories: blogs

How many people are financially Independent during retirement?

According to the Social Security Administration, people age 65 and older:

  1. 35.8% have incomes under $20,000
  2. 28.6% have incomes under $20,000 to $40,000
  3. 20.3% have incomes under $40,000 to $75,000
  4. Only 15.3% have incomes in excess of $75,000

For more information click here.

Graph With Stacks Of Coins

Source: Social Security Administration, Office of Policy, Income of the Population 55 or Older, 2012,released April 2014.

Legacy Partners Insurance & Financial Services Inc. is providing life insurance, health insurance, critical illness insurance, disability income insurance, estate planning, education planning, last expense planning in Glendale, Burbank, Pasadena, Van Nuys, North Hollywood, Studio City, Northridge, Sherman Oaks, Encino, Los Angeles, Hollywood and the rest of the cities in the State of California.  Legacy Partners is also offering services in Nevada.

Posted on: September 4, 2015 at 11:51 pm Categories: blogs

What is the Advanced Premium Tax Credit (APTC)?


The Advanced Premium Tax Credit is provided to those who qualify to help pay for health coverage. Your APTC is calculated based on your estimated annual household income, household size and where you live.

If your income or family size changes this may impact the APTC you receive. Report changes to Covered California within 30 days of the change. If your income varies month-to month, it is important to consider this throughout the year as it may affect your APTC.


Legacy Partners Insurance & Financial Services Inc. is providing life insurance, health insurance, critical illness insurance, disability income insurance, estate planning, education planning, last expense planning in Glendale, Burbank, Pasadena, Van Nuys, North Hollywood, Studio City, Northridge, Sherman Oaks, Encino, Los Angeles, Hollywood and the rest of the cities in the State of California.  Legacy Partners is also offering services in Nevada.

Posted on: September 3, 2015 at 8:41 pm Categories: blogs

Your Health Insurance Rights & Protections

Based on the new health care law, there are new rights and protections that make coverage fair and easier to understand. The law:

  1. requires health plans to cover people with pre-existing health conditions
  2. makes it illegal for health plans to cancel your insurance just because you get sick
  3. covers young adults under age 26 on their parent’s plan
  4. provides free preventive care
  5. ends lifetime and yearly dollar limits in coverage of essential health benefits.



Legacy Partners Insurance & Financial Services Inc. is providing life insurance, health insurance, critical illness insurance, disability income insurance, estate planning, education planning, last expense planning in Glendale, Burbank, Pasadena, Van Nuys, North Hollywood, Studio City, Northridge, Sherman Oaks, Encino, Los Angeles, Hollywood and the rest of the cities in the State of California.  Legacy Partners is also offering services in Nevada.

Posted on: September 2, 2015 at 10:52 pm Categories: blogs

You received Form 1095-A. What do you need to do?

irs 1095As soon as you receive your Form 1095-A statement, keep it with your other tax-related documents. Similar to a W-2 or 1099 form, you will need to have it on hand if you prepare your own taxes, or you’ll need to provide it to the tax professional who helps prepare and file your taxes.

Use the information on Form 1095-A to complete the IRS Form 8962, which you will need to file with you federal income taxes to make sure the APTC amount paid to your health plan on behalf was correct.


Legacy Partners Insurance & Financial Services Inc. is providing life insurance, health insurance, critical illness insurance, disability income insurance, estate planning, education planning, last expense planning in Glendale, Burbank, Pasadena, Van Nuys, North Hollywood, Studio City, Northridge, Sherman Oaks, Encino, Los Angeles, Hollywood and the rest of the cities in the State of California.  Legacy Partners is also offering services in Nevada.

Posted on: August 18, 2015 at 6:14 pm Categories: blogs

Best Life Insurance broker works with A (Excellent) rated company affirmed by A.M. Best


A.M. Best has affirmed the A (Excellent) financial strength rating for Kansas City Life Insurance Company. Also, A.M. Best affirmed the A-(Excellent) rating for its wholly owned subsidiary, Sunset Life Insurance Company of America, and its final expense subsidiary, Old American Insurance Company. The outlook for these rating is stable.
A.M. Best is recognized as a leading firm for analyzing the financial strength of financial and health care service industries, including insurance companies, since 1899. The A.M. Best rating system provides an opinion about each insurance company’s financial strength and ability to meet ongoing obligations to policyholders. Ratings are based on quantitative and qualitative evaluations of a company’s balance sheet strength, operating performance and business profile. Additional details about the rating process are available at www.ambest.com/ratings.


Posted on: August 17, 2015 at 6:09 pm Categories: blogs

Health Insurance / Obama Care Open Enrollment for 2017

Open enrollment

Important dates for 2016 enrollment:

If you don’t enroll in a 2017 plan by January 31, 2017, you can’t enroll in a health insurance plan for 2017 unless you qualify for a Special Enrollment Period.


Legacy Partners Insurance & Financial Services Inc. is providing life insurance, health insurance, critical illness insurance, disability income insurance, estate planning, education planning, last expense planning in Glendale, Burbank, Pasadena, Van Nuys, North Hollywood, Studio City, Northridge, Sherman Oaks, Encino, Los Angeles, Hollywood and the rest of the cities in the State of California.  Legacy Partners is also offering services in Nevada.

Posted on: August 14, 2015 at 11:35 pm Categories: blogs

About DI retirement Security

When individuals become disabled, most can no longer continue saving for retirement. With a loss of income, they are unable to contribute to 401(k) plans (or other retirement vehicles), receive their employer match or contribute to Social Security.

DI Retirement Security helps close that gap by allowing individuals to continue saving for retirement if they become too sick or hurt to work. Benefits are paid to an irrevocable trust upon a disability. It can be an ideal solution for those who’ve maxed out traditional disability coverage and are committed to saving for retirement.



Posted on: January 21, 2015 at 11:24 pm Categories: blogs

Penalties for Not Having Insurance in 2015..

Covered California announced that it’s increasing penalties for not having health insurance, and is encouraging Californians without coverage to explore their options and sign up to avoid large penalties during next year’s tax time.

“It’s important that consumers understand now that the cost of remaining uninsured is rising,” Covered California Executive Director Peter V. Lee said. “This year, a family of four earning $70,000 a year could pay close to $1,000 in their taxes if they remain uninsured in 2015.”
The penalty, known as the “shared responsibility payment,” takes effect for 2014, and many who were uninsured will see an impact when they prepare their taxes due in April
of this year. However, the penalty rises substantially for 2015, meaning it’s important
that all uninsured Californians know this and take steps now — before open enrollment
ends — to avoid significant penalties when they prepare their 2015 taxes due next year.
“With some exceptions, everyone in America is now required to have health insurance
— buying coverage for themselves and their families rather than relying on others to
pay for their care,” Lee said. “As the penalty increases, it makes more and more sense
for those who have been waiting on the sidelines to get in and get coverage.”

In 2016, the shared responsibility payment for those without health insurance rises even more. The same family of four that would pay $988 for not being covered in 2015 would likely pay $2,085 in 2016 if they do not have health coverage, depending on their specific circumstances. Individuals and families with incomes that would qualify for Medi-Cal would also be affected if they don’t have coverage.
“This is an important message that should be heard by Californians of all income
levels,” said Toby Douglas, director of the California Department of Health Care
Services (DHCS), which operates the Medi-Cal program. “Applying for coverage not
only gives you an opportunity to get comprehensive health care; it can help you avoid a
penalty that could hurt you and your family.”
The shared responsibility payment is calculated based on the greater of two 1factors, a
flat fee or a percentage fee based on one’s income and the national average cost of a
Bronze health plan.

The following table shows estimated penalties for not having insurance in 2015.


Posted on: January 16, 2015 at 11:48 pm Categories: blogs

Life insurance miracle

Legacy 10

People are buying Life Insurance for different reasons; however, the main reason is the love and care for their families.

A typical example is the story of a woman who recently visited our office with tears in her eyes. She came to say thank you to Legacy Partners for the assistance we gave her 10 years ago.

She was diagnosed with breast cancer in 2004 when her children were only 1 and 5 years old. Doctors told her that there was no cure, and she had only another 3 months to live. She was in an inextricable situation but fortunately she was positive and strong enough to make right decisions for her family’s future. She not only decided to fight for her life, but she also decided to get protection for her children. She bought life insurance for her husband to protect her kids from unseen, since she could not get any protection for herself at the time. She also bought life insurance as education planning for her children.

After consulting with Paul Arakelyan, the CEO of Legacy Partners Insurance & Financial Services Inc., she purchased a 30 Year Term Life Insurance policy for her husband and Whole Life Legacy 10 Pay for her children. The latter is a permanent life insurance policy providing guaranteed face amount. Premiums are payable only for 10 years. Thus, annually, the family paid only $1,500 for the boy and $1,300 for the little girl. 2014 was the last year they paid their last 10th payment. Their payments stopped in 2014, but the children will still have whole life insurance for the rest of their lives, and their policies will continue to accumulate cash value. For instance, they will have $15,000 cash value when they are 18 years old.

The moral of this story is that this woman loved and cared about her family so much, that even at the verge of her life, she did not forget to seek protection for her family. It’s partially due to her positive attitude toward life that she survived and recovered from cancer. Now, after 10 years she looked healthy happy and proud of her achievements: her health, her son who is the star player in his hockey team and her daughter, who won swim championships in all of LA.

Posted on: January 13, 2015 at 9:28 pm Categories: blogs

How To Manage Your Biggest Investment: Your Kids

A child born in 2012 will cost his parents $241,080 in 2012 dollars, on average, over his lifetime. And children of higher-earning families drain the bank account more: Families earning more than $105,000 annually can expect to spend $399,780 per child.

The “price tag” is astounding, considering that until not long ago, kids were expected to contribute to the household and were not generally a financial drain on it. “From a young age, for much of human history, they would do household labor, whether gather berries or get water and bring it back. From ages 5 and up, kids had an economic role to play in the household,” says Dalton Conley, sociologist, NYU professor and author of “Parentology: Everything You Wanted to Know About the Science of Raising Children But Were Too Exhausted to Ask.”


“Today, as sociologist Viviana Zellizer says, kids are emotionally priceless and economically worthless. They’re just a big sinkhole of our time, attention and money, and yet at the same time, we think of them as our most important life project,” says Conley. This idea that parents must invest in their kids for years is now even codified into law. For instance, while traditional markers of adulthood were set at 18 or 21, the Affordable Care Act has now extended the age limit for children to be on their parents’ health insurance to 26.


Posted on: January 6, 2015 at 10:00 pm Categories: blogs

You Think You Don’t Need Disability Insurance

Most people, if asked, are hard pressed to explain what disability insurance really is. It’s actually pretty simple to define: Disability insurance protects your paycheck.

If you become injured or ill and can’t work, disability insurance pays you a portion of your salary until you can return to work. A Life Happens survey found that most people couldn’t make it a month without their paycheck before financial difficulties would set in. So, it’s easy to see how important disability insurance is.


“That’s all fine and well,” you say, “but here’s why I don’t need it.”

Reason #1: “I’m young and healthy. A disability will never happen to me.”

Truth: You actually have a three in 10 chance of suffering a disability that keeps you out of work for 90 days or more at some point during your career, according to a Life Happens survey. You just don’t know which side of that statistic you’ll be on.

Reason #2: “I could rely on government benefits.”

Truth: Most long-term disabilities are a result of an injury or illness that is not work-related, and so wouldn’t qualify for Workers Compensation. And if you’re counting on Social Security disability benefits, those pay an average of $1,100 a month, which would leave you living right around the poverty level.

Reason #3: “I have disability coverage through work.”

Truth: You may, but it’s more than likely you don’t. Most (70%) private employers don’t offer long-term disability insurance, according to the U.S. Department of Labor.

The bottom line is this: If you work and rely on your paycheck, you need disability insurance.

Source: http://www.lifehappens.org/blog/3-reasons-you-think-you-dont-need-disability-insurance-but-actually-do/

Posted on: December 29, 2014 at 8:43 pm Categories: blogs

When Don’t You Need Life Insurance?


Insurance is a subject that even confounds people who know a lot about finance. While you need it like you need food, sometimes you don’t. Policies can be expensive. AdviceIQ contributor Rick Kahler, who runs Kahler Financial Group in Rapid City, S.D., is a font of common sense and practical financial knowledge – and unravels this question.

Insurance is vital for your family’s well-being. But sometimes it isn’t, such as when you have enough wealth to no longer need it, or your kids are grown. You should know when you no longer need to shell out for a policy.

You buy life insurance to protect yourself and your family with coverage that you won’t outlive. This is one of the common selling points for whole life or universal life, rather than term life insurance.

At first glance, this seems to make a lot of sense. Of course, you don’t want to outlive your life insurance. Having it pay benefits upon your death is the reason you buy the policy.

This statement, however, misses one essential fact. Many people don’t need to worry about outliving their life insurance, because they outlive their need for life insurance.

We don’t all need life insurance throughout our entire lives, any more than we do auto or homeowners’ insurance. If you no longer drive a car, you don’t need auto insurance. If you no longer own a home, you don’t need homeowners’ insurance.

In circumstances like the following, you may no longer need life insurance: First, when you and your spouse have accumulated enough assets and income streams to independently care for yourselves. Second, when your children are self-sufficient adults. Third, when your estate is too small to owe estate taxes or liquid enough to pay the estate taxes.
Life insurance comes in two basic flavors. With whole or universal, you get the protection of a death benefit and also there’s an investment component, called its cash value. This type of policy is also known as permanent insurance, as you can hold it your entire life. With term insurance, the policy lasts for a given period, often 20 or 30 years, and carries no cash value. Term usually is cheaper than whole or universal.

The primary purpose of life insurance is to replace the future income of a primary breadwinner. Two groups most likely to need it are middle-aged couples saving for retirement and parents of minor children.

Ideally, most young families should have over $1 million in life insurance to provide for the children if either parent should die prematurely. Yet many of them are unable to afford the higher premiums for this much “permanent” insurance. Their choices are to underfund their needs with a smaller permanent policy or purchase an affordable 30-year term policy.

As we age, the probability of dying becomes greater. Therefore, a $1 million life policy costs much less for a 25-year-old than a 75-year-old. It doesn’t matter if the policy is cash value, whole life, universal life or level term – the cost of providing the life insurance component increases every year.

Yet most human brains have a psychological aversion to price increases. To please their customers with life insurance premiums that didn’t increase every year, insurance companies came out with level term policies. Essentially, the premiums are averaged out: The insurer overcharges in the policy’s early years and undercharges in the later years.

Whole life and universal life insurance policies don’t have that same averaging. To be “permanent,” the premiums must be much higher to fund a savings account that grows over time and is often used to offset a significant portion of the death benefit in the insured’s later years. Usually, if the insured cancels the policy, a portion of the premiums is refunded.
A cash value policy may occasionally be a good estate-planning tool, generally for those with substantial wealth. You may use it to fund an irrevocable life insurance trust upon the second spouse’s death, perhaps to pay taxes on an illiquid estate like a family farm or other property. If you want to leave the bulk of an estate to charity and still provide income to your children, this type of policy also is useful. These strategies rarely apply to those whose primary goal is basic income replacement for their families.

One of the ironies of insurance in general is that it’s essential but we hope never to need it. For most people, life insurance is not really an exception to this. Its primary purpose is not to provide us with investment income, but to provide our families with income if we aren’t there.


Source: http://www.forbes.com/sites/lawrencelight/2013/06/26/when-dont-you-need-life-insurance/

Posted on: December 29, 2014 at 7:29 pm Categories: blogs

With a properly designed whole life insurance policy, you get…..

1. Principal protection guarantees of your money.Your cash value isn’t subject to market losses, as it is with mutual funds and other programs. When the stock market tanks again (and it’s never a question of if but when), you won’t lose a dime.

2. Guaranteed growth of your money every year. This will be interest-rate-driven based on the economy, but your account will move forward every year regardless of what the market does. This is compound tax-free growth and not the “average rate of return” you get with mutual funds. To be fair, in our current low-interest-rate environment, the growth rates are only in the 2 percent to 4 percent range but as you study further you start to realize the real wealth is not in the growth rate even when rates go higher.

Many financial advisers will tell you that your money would do better in a good mutual fund. But remember: When someone shows you an “average rate of return,” they can start taking that average from any time that benefits their example. This is not compounded growth but rather a factor of timing as to when you enter and exit the market. The stock market has wild swings; if that is acceptable to you, you should have much of your money in stocks. If not, maybe it’s time to consider a different way to think about investing. (Remember the period from March 2000 to October 2002, when the Nasdaq lost 78 percent of its value? It’s been 14 years since the dot-com bubble started to pop, and the tech-heavy index still hasn’t quite recovered to that level. If you like guarantees and stability then you have no business putting most of your money in the stock market.)

3. Dividends paid to policy owners are not taxable. Dividends aren’t guaranteed, but many reputable life insurance companies have been in business for more than 100 years and they’ve paid out dividends every year. The amount of that dividend will depend on several factors, but it boils down to how much profit the insurance carrier made. When properly paid to the policy owner, those dividends are not taxable.

4. A high starting cash value amount, based on what you contribute to the policy. Whole life policies that aren’t properly designed will have very little cash value in the early years. But a properly structured life insurance policy will have high cash value percentages, even in its first year, and they increase every year. This becomes an important fact when you realize that access to your cash will help you grow wealth systematically regardless of market conditions

5. Access to your cash value at any age, at any time, for any reason — without taxes or penalty. This is a huge benefit of whole life policies compared to 401(k)s and IRAs, which impose multiple obstacles if you want to access your cash before retirement, and penalize you if the funds you borrow from them are not paid back by a certain time and at a certain interest rate. No such obstacles exist with a whole-life policy. So leave your cash in the policy if you wish, or borrow it back out and use it, the choice is yours.

6. The ability to use your account’s cash value to recapture lost depreciation on major purchases and interest and fees paid to banks.If you treat this pool of money inside the life policy like your own personal bank, you can loan it out to yourself and others to create wealth. (More on this in future articles, but suffice it to say for now that banking has been around in some fashion for thousands of years. Any business model that lasts that long is worth understanding and using to your advantage.)

7. Guaranteed insurance. Once the policy is in place, your insurance is guaranteed for the rest of your life. Many people assume they’ll be able to buy new insurance at any point in their life. But nothing is further from the truth — especially for those who’ve been diagnosed with chronic or terminal diseases. If you become seriously ill, don’t expect to be able to buy a new policy.

With many whole-life policies, you can add an “accelerated death benefit rider” for little to no cost, which will give you access to a large portion of your death benefit during your lifetime if you have a terminal or chronic illness. I just had a colleague with a client who was diagnosed with Lou Gehrig’s disease, or ALS, and was sent a check from his insurer for more than 70 percent of the eventual death benefit. He’ll be able to enjoy his remaining time without worrying how he will pay his bills.

8. The ability to combine your life policy with the worlds of real estate, private lending and auto financing to accelerate your wealth, both inside and outside of the policy. Just remember that any funds inside the policy are tax-free for life.

9. Death benefits. In addition to all the benefits you can make use of while you’re still here, at heart, this investment is still a life insurance policy, so when you eventually die, there will be a sum of money left behind to your beneficiaries — tax-free.

There’s a reason family dynasties have been using life insurance for generations to grow and protect their wealth. Even when subject to estate limits, these death payouts go a long way toward promoting the tax-free, inter-generational transfer of wealth.

Of course, insurance company policies and riders will vary by state due to state regulations and depending on the actual insurance carrier. But you won’t find another type of account or investment that has all these benefits in one investment — not 401(k)s, IRAs, mutual funds, stocks, bonds, precious metals, real estate, nor any other account.

Source used: http://www.dailyfinance.com/2014/03/05/whole-life-insurance-why-to-buy-policy/

Posted on: December 10, 2014 at 8:42 pm Categories: blogs

What are the coverage levels of Covered California?

Covered California health insurance plans-and all health plans in the individual and small-group markets-are sold in 4 levels of coverage: Bronze, Silver, Gold and Platinum. As the metal category increases in value, so does the percentage of medical expenses that a health plan will cover compared with what you are expected to pay in co-pays and deductibles. On average, Platinum-level plans cover 90 percent of health care costs, and you pay 10 percent; Gold plans cover 80 percent, while you pay 20 percent; Silver plans cover 70 percent, while you pay 30 percent; and Bronze plans cover 60 percent, while you pay 40 percent.

Plans in higher metal categories have higher monthly premiums, but when you need medical care, you will pay less. Alternatively, you can choose to pay a lower monthly premium, and when you need medical care, you will pay more. You can choose the level of coverage that best meets your health needs and budget


In addition to these categories, Covered California offers a “minimum coverage plan,” which helps protect a person from financial disaster in the event of a serious and expensive medical emergency. Minimum coverage plans are designed to cover excessive medical bills that occur above the limit that you would be able to manage financially. Covered California offers minimum coverage to those up to age 30, or those individuals who prove they are without affordable coverage options or are experiencing financial  hardship.

Posted on: December 1, 2014 at 10:25 pm Categories: blogs

How much will it cost me to purchase health insurance?

obama care

How much will it cost me to purchase health insurance through Covered California, and will I be eligible for financial assistance?

Health insurance premium costs through Covered California will be based on age, where you live (ZIP code), household size and income, and the health plan and benefit level you select.

What kind of help is available to reduce the cost of insurance?

Starting in 2014, individuals seeking health coverage will be helped to afford coverage in three ways:

  1. Premium assistance: Premium assistance is available to reduce the cost of health coverage for individuals and families who meet certain income requirements and do not have health insurance from an employer or a government program. When you enroll in a health plan through Covered California, premium assistance can be immediately applied to the insurance premium, which reduces the amount you pay.
  2. Cost-sharing subsidies: Cost-sharing subsidies reduce the amount of out-of-pocket health care expenses an individual or family has to pay. These expenses might include the copayments for health care services or other costs.
  3. Medi-Cal assistance: Starting in 2014, the state of California is planning to expand the Medicaid program (called Medi-Cal in California) to cover people under age 65, including people with disabilities, or those with income of less than $15,856 for a single individual and $32,499 for a family of four. You can find out more by clicking here.


Posted on: November 20, 2014 at 6:57 pm Categories: blogs

Who is qualifying for Premium Assistance

shutterstock_117716242-750x420Premium assistance is available for individuals and families who make less than a certain amount a year and who do not have other options for obtaining affordable health insurance that meets certain coverage requirements, such as health coverage offered through their employer or another government program.

The amount of premium assistance depends on an individual’s income, age and where the person lives. The Patient Protection and Affordable Care Act sets a monthly maximum that people will pay for health care, based on where their income falls in the federal poverty level scale. In general, the less income someone makes, the less he or she will have to pay for health insurance and the more the federal government will help. For example, individuals who make up to $46,680 and families of four that make up to $95,400 may qualify for financial assistance.

Here are some key facts about premium assistance:

Posted on: November 19, 2014 at 11:51 pm Categories: blogs

What does Covered California health insurance cover?


All health insurance plans offered through Covered California’s individual and small group markets cover a comprehensive set of benefits known as “essential health benefits”. They include the following 10 categories:


Posted on: November 18, 2014 at 9:42 pm Categories: blogs

What is Covered California? What is “Obamacare”? Are they the same?

Health Insurance/Obamacare

Covered California is a new, easy-to-use marketplace established for California under the federal Patient Protection and Affordable Care Act where you and your family will be able to compare health coverage options and choose the one that best fits your needs and budget. Through Covered California, you may be eligible to receive financial assistance to make health care more affordable. This marketplace will allow Californians to shop online, over the phone and in person to find the right health insurance option for them. Through Covered California, individuals and small businesses can compare different health insurance companies and learn whether they qualify for federal subsidies and tax credits. Californians will be able to find out if they are eligible for low-cost or no-cost health coverage through Medi-Cal. Covered California is a part of the state of California and is overseen by an independent board appointed by the governor and the Legislature. For more information about available health care options, you can call us at 818.246.7222 or email: info@myagentla.com. The word “Obamacare” generally is used to refer to aspects of the federal Patient Protection and Affordable Care Act. One aspect of that act is the implementation of new health care marketplaces, such as Covered California.

Posted on: November 18, 2014 at 8:58 pm Categories: blogs

Be careful with your life insurance policy  


As a customer you can always face some problems, misunderstanding and fraud in your life. But I would like to draw your attention on the frauds that you can avoid while buying a life insurance.

First of all examine all advantages and disadvantages of the policy you are willing to buy, pay attention to all the pages of the policy, as it happens that while presenting the product agents don’t print all the pages to you, and surprisingly you are getting the contract with a lot of issues that you have no idea what they are about.

Second if you are buying a universal life insurance you should clearly understand that it can never be considered as cash value policy. Why? Because in this program the insurance cost is an internal insurance cost, and if you have an insurance that is related to any indexes, stock markets etc., you should pay your attention on your policy’s guaranteed maximum monthly cost of insurance rates. Do not hesitate to call the company and ask them to explain you what is the insurance cost. What will happen if you will take out the cash? Will the payments increase later? Is there any possibility that the company would ask you to pay additional payment? What if you will not be able to pay the amounts you are asked? What will be with your policy? Will it be canceled?

Find out the answers to these questions. Be secured. You are buying insurance to secure yourself, not to waste your money and get in troubles.

If you have any questions or you need any help to review you policy, feel free to contact us.

Posted on: October 9, 2014 at 10:10 pm Categories: blogs

How much life insurance do you need?

Discussing a contract

To find out the amount of life insurance you should buy to satisfy your needs depends on many different factors but the most important thing is that there is no need to decide the amount of life insurance based on emotions. It is obvious that most people would want to leave billions for their children to be sure that after they pass their way their children would not get lost in life. The more logical approach could be much simpler. Life insurance has to cover all the liabilities for example: mortgage, credit card debt, college expenses, funeral expenses etc., or some experts say you should have enough life insurance to cover 5 to 10 times your annual income. In either case underinsuring yourself just to say you have life insurance is senseless. It is easy enough to calculate all your outstanding debt and add to it last expenses. That will give your beneficiaries debt free life. To replace the income you needs to be conservative and think that the family can earn 5% on their investments per annum and leave about 20 times of their annual income in life insurance death benefits. Upon receipt of the proceeds family can invest the income tax free dollars at 5% rate of return and have the same amount of annual income as they had when the breadwinner was alive and working.

Posted on: October 8, 2014 at 8:55 pm Categories: blogs

Why buy Life Insurance?


Questions Diagram Red Marker

Why buy Life Insurance?

Life insurance is one of the subjects that nobody wants to talk about. We all say we are too you young for insurance, or we say we are not ready to die yet. But Who Is?

To help you understand how life insurance might apply to your particular situation, we’ve outlined a number of different scenarios below.

You’re Married

Many people believe that they don’t need to think about life insurance until they have children. Not true. What if one of you died tomorrow? Would your surviving spouse’s income be enough to pay off credit card balances, car loans, and cover monthly rent and utility bills? If you’re planning to have children, you’ll want to buy life insurance now instead of waiting until pregnancy—some companies won’t issue policies to pregnant women.

You’re Married With Kids

Most families depend on two incomes to make ends meet. If you died suddenly, could your family continue to pay the rent or the mortgage, and continue to have their standard of living on your spouse’s income alone? Would their plans for the future—like college stay intact? Life insurance makes sure that your plans for the future don’t die when you do.

You’re a Single Parent

As a single parent, you’re the caregiver, breadwinner, cook, chauffeur and so much more. Yet nearly four in 10 single parents have no life insurance, and many with coverage say they need more than they have. With so much responsibility resting on your shoulders, you need to make doubly sure that you have enough life insurance to safeguard your children’s financial future.

You Have Grown Children

Just because your kids are through college and the mortgage is paid off doesn’t necessarily mean that you no longer need life insurance. If you died today, your spouse will still be faced with daily living expenses. Would your financial plan, without life insurance, enable your spouse to maintain the lifestyle you’ve worked so hard to achieve now and into retirement?

You’re Retired

Depending on the size of your estate, your heirs could be hit with an estate-tax payment of up to 45% after you die. The proceeds of a life insurance policy are payable immediately, allowing heirs to take care of these taxes, funeral costs and other debts without having to hastily liquidate other assets, often at a fraction of their true value. Life insurance proceeds are also generally income tax free and won’t add to your estate tax liability, if properly structured.

You’re a Small-Business Owner

Besides taking care of your family, life insurance can also protect your business. What would happen to your business if you, one of your fellow owners or a key employee died tomorrow? Life insurance can help in a number of ways. For instance, a life insurance policy can be structured to fund a buy-sell agreement. This would ensure that the remaining business owners have the funds to buy the company interests of a deceased owner at a previously agreed upon price. That way, the owners get the business and the family gets the money. To protect your business in case of the death of a key employee, key person insurance, payable to the company, provides the owners with the financial flexibility needed to either hire a replacement or work out an alternative arrangement.

You’re Single

Most single people don’t need life insurance because no one depends on them financially. But there are exceptions. For instance, some single people provide financial support for aging parents or a sibling with special needs. Others may be carrying significant debt that they wouldn’t want to pass on to family members who survive them. Insurability is another reason to consider life insurance when you’re single. If you’re young, healthy, and have a good family health history, your insurability is at its peak and you’ll be rewarded with the best rates on life insurance.

By Paul Arakelyan, CEO

If you are interested in getting more information about life insurance, you can request an appointment by writing to us at info@myagentla.com.









Posted on: October 2, 2014 at 8:20 pm Categories: blogs

Program about Living Benefits of Life Insurance

Posted on: June 23, 2014 at 11:00 pm Categories: blogs

This is a program that’s discussing differences between few life insurance policies.

Posted on: June 23, 2014 at 10:28 pm Categories: blogs

May is a Disability Insurance Awareness Month.

Your ability to earn a living is far and away your largest asset.

Learn how to protect your income in case you become too sick or injured to work.

Without your paycheck, how long would you be able to make your mortgage or rent payment, buy groceries or pay your credit card bills without feeling the pinch? If you’re like most, it wouldn’t be long at all: Half of working Americans couldn’t make it a month before financial difficulties would set in, and almost one in four would have problems immediately, according to a Life Happens survey.¹

That’s where disability insurance comes in. Think of it as insurance for your paycheck. It ensures that if you are unable to work because of illness or injury, you will continue to receive an income and make ends meet until you’re able to return to work.

You don’t hesitate to insure your home, car and other valuable possessions, so why wouldn’t you also protect what amounts to your most valuable asset? Explore this section to learn more about the different sources of disability income protection and ways to get coverage.

¹The Disability Survey conducted by Kelton Research on behalf of Life Happens, April 2012


Posted on: May 14, 2014 at 1:06 pm Categories: blogs

What Life Insurance Gives To Your Loved Ones

Life Insurance is a product/policy no one really wants to think about. But if someone depends on you financially, it’s one you cannot avoid. In the event of a tragedy, life insurance proceeds can:

Posted on: May 14, 2014 at 12:46 pm Categories: blogs