Whether insurance plays a major or minor role in your financial plan, Sequoia’s team of experienced professionals can serve as a resource in this complex area. As an independent representative, we can help you select the appropriate coverage based on your specific needs—personal income replacement, estate tax management or business purpose. Once selected, we also help you regularly review your coverage, which is important, as your coverage needs and coverage pricing may change over time.
Sequoia focuses on the following types of individual coverage:
Life Insurance
Life insurance is basically a contract between you and an insurance company. Premiums are paid over time in exchange for the insurance company paying an agreed-upon amount at the death of the insured. There are two main types of life insurance, term life and permanent life. Term life insurance offers protection for a defined period of time. Permanent life insurance can provide coverage for an indefinite length of time.
Long-Term Care Insurance
Long-term care insurance pays a pre-determined amount—usually a daily benefit—toward long-term care costs. Some policies allow you to receive care in your home or, if necessary, to choose your own facility.
Disability Insurance
Disability insurance provides a specific amount of income in the event of an injury or illness that prevents the insured from working.
Process
Understand
We first familiarize ourselves with your needs. While a financial plan will help in this step, it is not necessary.
Design
Sequoia carefully compares your needs with the many insurance types and carriers. We consider numerous factors, such as personal health, policy objectives, risk tolerance and tax considerations*. We then give you our recommendation regarding carrier, coverage and estimated cost.
Implement
Once a target carrier and coverage is agreed upon, you complete a formal application. Our team can assist you while you are completing the documents to help ease the process. The insurance carrier verifies information on the application, often via a third-party provider. Typically this is in the form of a phone call, although an exam performed by a licensed practitioner also may be required. This varies slightly when buying via our Medical Advocacy process.
Activate
Upon notification of approval by the carrier, you have a certain number of days, as determined by the policy, to make payment. The policy becomes active as of the payment date.
We are ready to help you be the architect of your own future. Contact XXX directly at xxx or any of our planners to begin a conversation.
*Sequoia Financial Advisors, LLC does not provide tax or legal advice. These professionals should be consulted separately before implementing changes to your tax or legal matters.