Insurance Advisory Services
Insurance is an essential part of your financial life and provides a safety net that protects you from various risks and uncertainties that you may face. Insurance services not only provide financial security but also offer peace of mind.
At Fort Pitt, we believe insurance should be an important part of a holistic financial plan, so we offer our clients in-house risk mitigation expertise. As an added value, clients benefit by receiving advice through our fiduciary role, which means we will always act in the clients’ best interest, and we won’t sell a service they don’t need.
Term life insurance refers to life insurance policies that provide coverage for a limited period of time. It is designed to provide financial protection to your family in the event of your death during the term. This type of insurance is usually cheaper than whole life policies and can be tailored to fit your budget and needs. With term life insurance, your advisor will ensure you have proper guidance to choose a policy amount and length that meets your individual needs.
Whole life insurance is a policy that focuses on providing coverage for the client’s entire lifespan. It is designed to provide financial security and peace of mind for both the policyholder and their family. Whole life insurance offers a range of benefits, including death benefit payments, cash value accumulation, tax advantages, and more. It can also be used as a form of long-term savings or as an estate planning tool. By understanding how whole life insurance works and its various features, our clients will work with their advisory team to determine if this type of policy is right for them.
Universal life insurance is a permanent insurance policy that provides flexible coverage and cash value accumulation. It offers the flexibility to adjust premiums, death benefit amounts, and investment options. This type of policy is designed to provide lifelong protection for you and your family while also allowing you to save money on a tax-deferred basis. With universal life insurance, you can choose from a variety of different riders and options that can be tailored to fit your specific needs. Additionally, universal life insurance policies often have lower premiums than other types of permanent life insurance policies.
Survivorship life insurance is a type of insurance policy that covers two or more individuals and pays out a death benefit only after both parties have passed away. This type of insurance is often used by couples who want to provide financial security for their families in the event of their deaths. It can also be used to provide funds for estate taxes, charitable giving, and other expenses. Survivorship life insurance can provide peace of mind and financial stability to those who plan ahead and invest in this type of policy.
Income protection insurance is a type of insurance designed to protect individuals from the financial risks associated with the loss of income due to sickness, injury, or unemployment. It provides a regular income for those unable to work, so that they can continue to pay their bills and maintain their lifestyle. In some cases, it may also cover medical expenses and other costs associated with being away from work. Income protection insurance can be an invaluable asset in providing financial security during difficult times.
Business and continuation planning is essential for any business to ensure its longevity. It involves creating a comprehensive plan to ensure that the business can continue operations in the event of an unexpected disruption or change. This includes assessing risk, creating contingency plans, and developing strategies to protect the company’s assets and resources.
Supplemental retirement plans are designed to provide additional income and security during retirement. They can help to supplement Social Security benefits, pension plans, and other forms of retirement income. Supplemental retirement plans can also provide tax advantages for those who take advantage of them. These plans can be used to save for the future, invest in stocks, bonds, mutual funds and other investments, or even purchase annuities that provide a guaranteed stream of income during retirement.
Bank owned, insurance owned, and corporate owned life insurance are all forms of life insurance that provide financial protection to the insured in the event of death or disability. Bank owned life insurance is typically held by a bank or other financial institution and used as a form of collateral for loans. Insurance owned life insurance is held by an insurer and may be used as part of an annuity contract. Corporate owned life insurance is held by a corporation and provides death benefit protection for key employees or owners. All three types of life insurance offer financial protection to the insured in the event of death or disability, but each has its own unique features and benefits.
A buy-sell agreement is a legally binding contract that provides for the transfer of business ownership upon a “triggering event” – death, disability, retirement, divorce, bankruptcy, etc. They are integral to succession planning and are often used as life insurance policies to fund the buyout in case of a business partner’s death.
Find out more about buy-sell agreements here.
Home health insurance enables people to remain independent and safe in the comfort of their own homes while still receiving the necessary medical care from professional healthcare providers. Home health care services include nursing, physical therapy, occupational therapy, speech-language pathology, and other medical social services. Providing these services in the home setting can unnecessary hospital visits and allows people to receive the same quality of care they would receive at a hospital or clinic.
A nursing facility is a place where nurses and other medical professionals provide care for patients in need of long-term or short-term medical attention. Nursing facilities are designed to provide the best possible care for their residents, with a focus on comfort, safety, and quality of life. They also strive to promote independence and autonomy for those in their care. Nursing facilities are essential for providing comprehensive health services to the elderly, disabled, chronically ill, or those recovering from illness or injury. With the right nursing facility, individuals can receive the highest quality of care while maintaining their dignity and independence.
It’s important to understand the various challenges related with caring for an aging parent in order to ensure their health and wellbeing. This includes understanding the physical, emotional, and financial needs that come with providing care for an elderly loved one. With the right support from family members, healthcare professionals, and other resources, it is possible to provide quality care for an aging parent while also taking care of your own needs.
Chronic illness care requires a multi-disciplinary approach involving a team of professionals from various disciplines, such as doctors, nurses, psychologists, social workers, and dieticians. They work together to provide comprehensive care for the patient, including diagnosis and treatment of the condition, monitoring of symptoms, lifestyle management, and emotional support.
White collar disability insurance is a type of insurance policy that offers financial protection those unable to work due to an illness or injury. This type of insurance is specifically designed for those in white-collar professions, such as doctors, lawyers, and executives, who may not have physical jobs, but still rely on their ability to think and communicate effectively. With white collar disability insurance, policyholders can receive a percentage of their income if they become disabled and unable to work. This financial protection can help cover expenses such as mortgage payments, medical bills, and other living expenses. It’s important to note that not all disability insurance policies are created equal, so it’s crucial to thoroughly review the terms and conditions of any policy before you choose. White collar disability insurance can provide peace of mind for individuals who rely on their income to maintain their lifestyle.
Non-occupational disability insurance is designed to provide financial support to individuals who become disabled outside of their workplace. It is designed to cover disabilities that occur due to accidents or illnesses that are not related to work. Unlike occupational disability insurance, non-occupational disability insurance does not cover disabilities that occur while the policyholder is on the job. Non-occupational disability insurance can be purchased as a standalone policy or as a rider to an existing life insurance policy. The benefits provided by non-occupational disability insurance can help individuals cover their living expenses and medical bills when they are unable to work due to a disability. Some policies also provide additional benefits, such as rehabilitation services and vocational training, to help individuals return to work after a disability.
Long-term income protection insurance policies help protect individuals in the event that they must stop working due to illness or injury. This type of insurance provides a source of income to policyholders who may not be able to work for a long period of time. Unlike short-term disability insurance, long-term income protection insurance can provide coverage for several years or even until retirement age, depending on the policy. It is critical to consider this type of insurance if you rely on your income to support yourself or your family. Long-term income protection insurance can provide peace of mind and financial security during difficult times. It is recommended to consult with a financial advisor to determine if this type of insurance is right for your specific situation.
Specialty disability programs are designed to provide assistance and support to individuals with disabilities. These programs are often tailored to meet the specific needs of the individual, and may include services such as job training, education, counseling, and medical care. These programs are typically funded by government agencies or non-profit organizations, and are intended to help individuals with disabilities achieve greater independence and self-sufficiency. Some specialty disability programs may also provide financial assistance to help cover the costs of medical or other necessary expenses. Overall, specialty disability programs can play a crucial role in ensuring that individuals with disabilities have access to the resources and support they need to live healthy, fulfilling lives.
At Fort Pitt Capital Group, our Registered Investment Advisors are committed to providing holistic financial planning to all clients. Our enhanced services include risk mitigation to ensure clients are guided to the best solution by their trusted advisor.
We will act in the best interest of the client and only recommend adding or changing insurance products when needed to protect what our clients have built. Our clients benefit by receiving advice through our fiduciary role.
Talk to Your Advisory Team Today
For financial advisors you can trust, choose Fort Pitt Capital Group. Our in-house consultants are skilled in financial planning, investment analysis, and wealth management and focus on creating individualized results for you.Talk to Your Advisory Team Today