Insurance Services

Life Insurance

The contemporary life insurance market is way more extensive than a source of income for beneficiaries when catastrophe strikes. With a plethora of options, these plans offer you and your entire family peace of mind.

Choosing the perfect life insurance plan depends as much on your financial needs as it does on your health class rating. We will assess all factors and guide you through every option until we find the perfect plan for you.

Greenhill Financial Group is knowledgeable in various options including but not limited to – term, return of premium, permanent and whole life from over 21 A rated carriers. We are familiar with the rate classifications that particular carriers use to determine the health class of enrollees – and there are significant differences between them. No matter what your situation is, we will find the insurer that will provide you will the best rating class and thus the lowest premiums.

Long Term Care

At some point, we all worry about aging and the time our life savings will deplete, or we’ll be a burden on our children to assist us physically and/ or financially.

Long Term Care (LTC) insurance will give you the protection you will need. A LTC plan benefits will kick in at any point that you can no longer independently perform two of the six “activities of daily living”: eating, bathing, dressing, using the bathroom, getting in and out of a chair, and maintaining continence.

LTC will provide coverage for home aides and therapy, nursing home care, or assisted living. Once you are eligible for LTC benefits, you no longer pay premiums!

The earlier you enroll in a LTC plan the lower the premiums are. In recent years, an array of innovative LTC plan types have been introduced to the market, offering you options that are more affordable and ensure that your premiums do not go to waste if you remain independent through ripe old age.

Greenhill Financial Group has enormous expertise in the LTC insurance market. We will advise you of your most updated options, and independently shop for the carrier that will give you the lowest premiums. Regardless of your age and health situation, we can virtually always get you approved for an attractive LTC plan from one or more reputable carriers.

The following is a synopsis of the main LTC plan categories that we offer:

Conventional LTC: You are covered for long term care so long as you pay your premium. These plans offer low premiums that typically rise in the subsequent years.

Life/LTC Hybrid: This option is increasingly popular for its unique feature that combines the traditional death benefit of life insurance with LTC benefits. Your single premium,which is locked in for life, entitles your beneficiaries to a particular death benefit, and are simultaneously locked in for life. If necessary during your lifetime, costs for long term care are disbursed tax free and deducted from the death benefit.

Self Insurance/Moneyguard: Liquid funds of money accrued, adds compounding interest year after year, which will roughly triple in value after about fifteen years. Cash can be withdrawn tax free for LTC expenses, based on the account’s value at the time. Excess money remaining in the account is left toward the death benefit to your beneficiaries. This option is typically the best choice for people with major health issues – health doesn’t affect account value – and/or for those with large pools of money earning little to no interest.

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Disability Insurance

You’ve spent a lifetime of energy and resources to launch a successful career or business. Don’t let it go to waste!

If you become disabled, God forbid, standard-unemployment benefits will likely not provide what it takes to replace your income. Disability insurance gives you the ultimate safeguard. Greenhill Financial Group will shop for the ideal plan, from the superior carrier, based on your individual situation.

Short term disability insurance provides you with most of your previous income level for up to two years. Long term disability insurance provides this coverage for several years, up to retirement, depending on the plan you choose.

Learn about the wide array of protections you available through various disability insurance plans, including guaranteed renewal, cost of living increases, terminating premium payments after becoming disabled, and more.

Make the smart choice with Greenhill Financial Group!

Health Insurance

When shopping for health insurance, shop smart. Don’t be deceived by insurance agencies allowing them to sell you plans from their preferred carriers so that they can clinch the sale and leave you with obstacles to solve. When you reach out to Greenhill Financial Group, we will spend all the time necessary to determine what your needs and priorities are. We are independent and offer plans from a large spectrum of reputable carriers. We explain your options in great detail and clarity– down to the fine print – so that you can choose a plan that will satisfy you for the long term.

Annuities

An annuity is a contract between you and an insurance company, whereby you give the insurer your premium dollars, and in return the insurer guarantees you certain benefits. While annuities are not life insurance policies, they are typically issued by life insurance companies and are considered insurance products.

An annuity can be a part of your total retirement strategy, in that you can purchase one with a lump sum or regular premium payments over time. Annuity assets grow tax-deferred, and interest is compounded. When you begin making withdrawals or receiving payouts, you will only pay taxes on the interest earned if you paid for the annuity with after-tax dollars. There is no IRS limit as to how much premium you can put into annuities.

If you have determined that an annuity might fit within your financial strategies, you will then need to determine which one(s) might be most appropriate for your situation. The large number of annuity products on the market today can make selecting the most suitable annuity a challenge. But in fact, there are only a handful of different types of annuities.

When selecting an annuity, you will be presented with essentially three choices:

Immediate or deferred payout

In an immediate annuity, the annuity owner begins to receive payments immediately after purchasing the annuity (or sometimes can wait for up to 12 months). The immediate annuity is for those who need income from their annuity right away. In a deferred annuity, the annuity-owner receives payments starting at some later date, often upon retirement.

Fixed or variable interest

Fixed annuities pay a fixed rate of interest for a fixed period of time, typically over 1-10 years. After that point, the interest rate may change, depending on the insurance company’s financial experience during that time, but the interest rate will never be below zero. Variable annuities enable you to invest in a selection of sub-accounts, such as securities portfolios, fixed interest accounts, and money market securities. These sub-accounts are tied to market performance, and often have a corresponding managed investment portfolio after which they are modeled. Variable annuities do have the potential to fall below the market and may lose some of the principal.

Liquidity options

Most annuities allow you to withdraw either your interest earnings or up to 15% per year without a penalty (although any withdrawal from an annuity may be subject to taxes and a 10% federal penalty if taken prior to 59 1/2 years of age).

Settlement Options:

Period Certain

Provides level payments for a specified term of 10-25 years. Should the annuitant die before completion of the term, the designated beneficiary would receive the remaining payments or a lump sum distribution.

Period Certain and Life

Provides payments for life with a guaranteed period of 10, 15 or 20 years. Should the annuitant live past the selected guaranteed period, the payments will end upon his/her death. If the annuitant dies before the guaranteed period ends, the beneficiary would receive the remaining payments or a lump sum distribution.

Joint and Survivor

Provides an income based on the life expectancy of two individuals. Payments end at the death of the second individual.

Lifetime-No Refund

Provides annuity payments for the lifetime of the annuitant. Payments stop at death.

Lifetime-With Refund

Provides annuity payments for the lifetime of the annuitant. In the event of the annuitant’s death prior to receiving all the principal, the balance will be paid to the beneficiary.

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