Planning for the Future Through Financial Services

The changes in your world — from the car you drive to the house you live in — are only symbolic of the actual changes that have occurred in your life. While keeping pace with change is important, anticipating future needs and being prepared for them has even greater value. When was the last time you assessed your life insurance coverage? Have you considered how your financial, health and personal care needs will be met after retirement? Who will pay if you become infirmed or require long term care such as that provided by a nursing home?

Life insurance

Most people underestimate the amount required to see their children through college, or to allow a surviving spouse to maintain his or her standard of living. Selecting the right insurance product and coverage is key to meeting these needs.

The two basic types of coverage are term life, which provides the most affordable coverage, and permanent life insurance, which combines a death benefit with an investment component.

There are several types of permanent life policies which differ in the investment options involved. One of the most popular is Universal Life, which provides a market interest rate and payments that are generally lower than traditional whole life. Variable Universal Life allows you to choose between investment options, assuming both the risks and rewards associated with your selection.

Disability/income protection

In the event that you become injured or are otherwise unable to work, your family's expenses are unlikely to significantly shrink. In addition, you may be faced with high medical costs and other expenses related to your disability.

Depending on the nature of your disability and your occupation, your short term or long term earnings may be impacted once you return to work. Selecting an appropriate policy and coverages is essential to ensuring your family's financial health.

Long term care

With longer life expectancies, a significant number of Americans can expect to spend time in a long term care facility, with monthly costs approaching or surpassing five figures in most areas. Should the need arise, long term care insurance will allow you to stay in a quality facility, without wiping out a lifetime of savings that would be better passed on to your loved ones.

The best time to consider a long term care policy is while you are younger, as rates rise sharply as you age.

Our services

Ruchman Associates’ Financial Services Department advises companies and individuals on group insurance, life insurance, pension plans, disability and health insurance, and long term care policies. Our goal is to make sure our clients have the right insurance coverage for their current and future needs at the best premiums.

We also provide insurance programs that address estate planning, the sale or purchase of a business, insurance for CEOs or other key people, and other business succession planning issues. Since Ruchman Associates represents a number of outstanding insurance carriers, we are not committed to any one insurance market. This leaves a wide choice of plans at favorable rates, which can be tailored to meet an individual’s or a company’s requirements.

Let us help you put together a plan that assures your future. Contact us by phone at (516) 764-8330 or by email info@ruchmanins.com