At Sossin Financial Group, we show people how to create, protect and pass wealth onto future generations and charities through the most tax advantaged methods. This is accomplished using life and disability insurance products as well as asset protection strategies.
Life Insurance - Disability Insurance - Long Term Care Insurance - Health Insurance
Life Insurance
 Term Life – Life insurance polices that last for a specified term of time (5, 10, 15, 20, 25, or 30 years). Typically, term insurance provides the most cost effective way to obtain coverage for a limited amount of time. Many companies buy these policies on key employees. Often, business partners buy term policies on each other to cover the expense of paying off the family should something happen to one of them. Also, term insurance is great for people who may not currently have the resources to obtain permanent polices.
Permanent / Whole / Universal Life – These policy structures are used by many Business owners, Executives, Doctors, Athletes, and Entertainers, as a way to obtain permanent life insurance coverage and allocate a specified amount of personal or company resources to a future pool of money. These policies place funds into a tax advantaged plan and also provide life insurance protection until the insured passes away... whether it be at age 50 or 120. The cash that accumulates inside the policy can be used at anytime in the future to start a business, fund a child’s college plan, or help with retirement. All of the money is asset protected and creditor proof (from bankruptcy, lawsuits, etc)
Premium Finance – The most common structure is a method of buying permanent life insurance that leverages low borrowing rates against higher credited rates being earned by the equity or cash value within a policy or alternative investment. Premium financing may enable people with high net worth to purchase life insurance without liquidating other investments or otherwise changing their normal cash flow. Through this innovative financial arrangement, you may be able to borrow the funds to pay life insurance premiums. The insurance policy protects the net worth you have built up over your life time and assists in the passing of your financial legacy to future generations – all without altering your other financial strategies.
Disability Insurance
For most people, their largest asset is not a home, good health or a retirement plan. If they are still working, their largest asset is their ability to produce an income. Insurance is intended to protect a person's valuables. It makes sense that a person would want to protect their most valuable asset with disability insurance.
Individuals face risks to their ability to produce an income everyday. While many people have money saved, it is highly unlikely those funds replace their earnings. It is common for someone facing a disability to turn to their personal savings and quickly deplete their resources. Disability insurance helps protect against that sort of financial risk by providing benefits at a level proportionate to their pre-disability earnings. People are willing to insure their cars, their homes, their lives, but have a tougher time agreeing to insure their income.
Specialty High-End Disability Insurance Policies-
Necessary for Doctors, Business Owners, Executives, Athletes and Entertainers
Many high level executives obtain this to supplement there company plans. A VP or CEO of a corporation may have a company disability plan that covers them up to $10,000 per month. If they make $500,000 or $1,000,000+ per year that only helps so much. We are able to acquire for them special policies to cover there income from an extra $15,000-$250,000 per month if they are partially or totally disabled. For our athlete and entertainment clients we can put in force policies that pay lump sums of $500,000-$20,000,000 for permanent disability.
Long-Term Care Insurance
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Policy is put inforce to help with your activities of daily living. These are items such as bathing, dressing, toileting, continence, eating, and transferring.
A person may be able to do all of your activities of daily living but still need care and supervision due to a severe cognitive impairment (memory loss, dementia, etc.). Long Term Care is not necessarily medical care but rather "custodial care." This covers someone coming into the home to help or if someone needs to go into a facility (assisted living or adult day care). |
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Health Insurance
Group Health Insurance – Employees often view health insurance as one of their most valuable benefits. A 2002 survey by the Employee Benefits Research Institute found that 60% of workers felt health insurance was their most important benefit.
We can help to design and structure appropriate group health plans along with medical savings accounts for companies of any size
Individual Health Insurance – We can help to obtain the most cost effective HMO or PPO plan for a single person or their entire family.
Please send inquiries to info@sossingroup.com or request a quote by clicking CONTACT US
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