Individual Needs
Life Insurance
Health Insurance
Disability Income/Long Term Care
Dental/Vision
Medicare Supplements
Homeowners Insurance
Auto Insurance
Life Insurance
Life insurance isn’t for the people who die. It’s for the people who live. Life Insurance plays an important role in almost everyone’s financial plan. Life insurance not only protects your loved ones against the uncertainties of life, as a savings vehicle, it’s the foundation of a sound financial plan. Combined with annuities, investments, retirement and estate planning, life insurance provides you with financial peace of mind for you, your family or business.
Two types of life insurance are term (temporary or for a short period) and permanent insurance (Whole Life, Universal Life, and Variable Universal Life).
Term insurance builds NO cash value and can expire before death may happen as well as increasing rates. Permanent insurance offers a cash value account that can be tapped into for emergencies, college funding or retirement. Usually the premiums stay level or fixed and in some products maybe flexible. Permanent life insurance can be used as a living benefit as well as a death benefit.
Return to Top
Health Insurance
Health Insurance is meant to provide peace of mind protection. We provide a wide variety of medical insurance policies that offer many advantages of group insurance – on an individual basis. Whether your needs are for an employee on a group health plan, an association plan or individual, our role is to provide you with information to help make your decision easier.
The HMO (Health Maintenance Organization) and PPO (Preferred Provider Organization) plans are both forms of managed care plans that allow you to visit the physicians within the plan's network.
An HSA (Health Savings Account) allows individuals to contribute money to their Health Savings Account on a tax-deductible basis up to allowable limits. The money can then be used to pay future co-payments, deductibles and many other “eligible” medical expanses as described in Section 213 (d) of the Internal Revenue Code. Distributions from a participant’s account are tax-free if they are withdrawn to pay qualified medical expenses which can include alternative health care services.
The design of these plans can protect you and your family against the high costs of health care. The HSA must be in combination with a qualified High Deductible Health Plan (HDHP).
A Flexible Spending Account (FSA) allows you to set aside pretax amounts through regular payroll deductions. The funds in your account are then used to pay expenses throughout the year for unreimbursed medical charges or child care services.
A Preferred Provider Organization (PPO) is also a fee-for-service plan, but the covered person is required to use a physician, hospital or healthcare provider from the plan's Preferred Provider list. Usually PPO contracts provide significantly better benefits in exchange for the policy holder's agreement to stick to the preferred providers. If you use out-of-network providers, your out-of-pocket expenses will be higher, and some services may not be covered.
Health Maintenance Organization (HMO) plans do not provide for any out-of-network care except in emergencies and special cases. There is no annual deductible, and members pay a flat co-payment rather than a percentage of the allowed charge. Your care is coordinated by a Primary Care Physician (PCP) who determines how, when and where you will be treated, as well as what specialists and hospitals you may be referred to.
The HMO (Health Maintenance Organization) and PPO (Preferred Provider Organization) plans are both forms of managed care plans that allow you to visit the physicians within the plan's network. An MSA (Medical Savings Account) allows individuals to contribute money to their Medical Savings Account on a pre-tax basis. The money can then be used to pay future co-payments and deductibles.
Return to Top
Disability Income/Long Term Care
Becoming disabled is a contingency that all too often we fail to plan for. Facing a serious accident or illness is difficult enough; however, letting bills go unpaid and leaving assets unmanaged can be devastating. We can help make sure income is there when it's needed in either individual or small business situations. Disability Insurance covers the loss of compensation due to accident or sickness and may protect ones’ occupation as well as their income.
Long term care covers home care, adult day care, assisted living care, nursing home care and hospice with a fully portable coverage, premium waiver and inflation protection. Buy-up options are available to increase daily benefit and lifetime benefit maximum amounts. Affordable premiums are based on daily benefit, lifetime maximum and age.
Return to Top
Dental/Vision
Now you can purchase an affordable dental plan without having to be part of a company plan. If you're self-employed or work for a company that doesn't provide dental benefits, there are many dental plans that are perfect for you.
It's an affordable and convenient way to purchase the comprehensive coverage you need to maintain your best possible dental health. There are comprehensive dental insurance plans created to offer you and your qualified family members the protection and flexibility you need to maintain your dental health.
Return to Top
Medicare Supplements
If you are eligible for Medicare and have already purchased your Medicare Part B, then consider adding a Medicare Supplement policy to your coverage. Supplement policies offer additional coverage to assist you in receiving the care you may need or want. We also offer Medicare Part C & D plans.
Return to Top
Homeowners Insurance
Homeowners insurance provides financial protection against disasters. A standard policy insures the home itself and the things you keep in it.
Homeowners insurance is a package policy. This means that it covers both damage to your property and your liability or legal responsibility for any injuries and property damage you or members of your family cause to other people. This includes damage caused by household pets.
Return to Top
Auto Insurance
Auto insurance blends several types of coverage into one policy. Typically, your policy will include some combination of comprehensive, collision, medical, liability and uninsured motorist coverage. Choose your preferred deductible amount and the vehicle's value to calculate the policy's cost. Reduce the coverage amounts or raise the deductible and the cost of the policy decreases.
Return to Top
Mortgages
Learn about your options in choosing a loan program that is best for you whether you want to qualify to buy more home, get the lowest rate, or shorten your term.
Return to Top
Annuities
An annuity is a contract between you and a life insurance company which provides for future income payments in exchange for your investment now.
An annuity is a flexible retirement vehicle that combines guaranteed life income payments, other insurance benefits, and tax-deferred savings. For older Americans, it can be a beneficial option. There are two basic types of annuity contracts. With a Fixed Annuity, premiums earn a fixed rate of return from the life insurance company. This guarantees you a fixed payout every month. When you purchase a Variable Annuity, your money is invested in fund options from nationally prominent companies. The insurance company will pay you income as long as you live, but the amount will vary based upon the investment option selected and market risk. An Indexed Annuity is a hybrid of both the fixed and variable annuity. It guarantees the account value will not drop below the initial amount invested, while giving you an opportunity for upside potential.
Return to Top
Banking Services
We offer personal banking services tailored to fit your lifestyle. Open your account, access your money and utilize other banking benefits in a manner that makes the most sense for you. And, check out our checking accounts, flex term certificates of deposit and our nationwide mortgage loan program.
Return to Top
CD Alternatives
Many people who own bank certificate of deposits (CDs) own them because they feel that CDs provide an element of safety and security in a volatile world. Unfortunately, these same investors are currently experiencing very low rates and are seeking alternatives. Some cynics have named low-yielding CDs "Certificates of Depreciation" because of their inability to keep up with the rate of inflation. Still others own CDs because they are usually insured by the FDIC (certain limits apply). But, the good news is other alternatives do exist; let's talk about them.
This is not an offer of securities in any jurisdiction, nor is it specifically directed to a resident of any jurisdiction. As with any security, request a prospectus from your registered representative. Read it carefully before you invest or send money. Securities products are limited to residents of Texas. A representative from Southerland & Associates will contact you to provide requested information.
Return to Top
