Insurance Services in Dayton,Ohio from Essex and Associates

Essex and Associates is one of the best Insurance companies Dayton, Ohio and the Miami Valley have to offer,  provides insurance services to their clients offering several types of insurance for businesses and individuals alike.

We offer health, life and supplemental insurance.

We have two licensed insurance agents on staff. Our insurance offerings are part of our one stop shop concept. We bring as many financial services to the table as we possibly can to facilitate your multiple interactions with numerous third parties.

As part of a well rounded risk management philosophy for your life and business are tailored insurance policies to meet your specific needs at different points in your life.

Our firm is aware of numerous tax strategies associated with insurance coverage.

It most definitely does matter what type of insurance you buy in terms of its tax deductibility.

Insurance policies combined with tax savings allow the government to fund part of your premium payment, in terms of reduced taxes.

As your children are young and your wealth portfolio is meager, it is critical that the main bread winner have appropriated coverage’s in case of a disability or an untimely death.

As your net worth grows, then applicably your insurance coverage’s should also decline.

The strategy behind reducing insurance coverage as wealth grows is that your portfolio would be available in case of an accident or death as the financial remedy.

Plus as your net worth increases, you can take premium payments that at one time were going to insurance payments and invest them in a way that will generate a greater return on your money.

Insurance policies that provide financial support in the event of the policyholder becoming unable to work because of disabling illness or injury are critical.

This type of policy provides monthly support to help pay such obligations as mortgage loans and credit cards.

Short-term and long-term disability policies are available to individuals, but considering the expense, long-term policies are generally obtained only by those with at least six-figure incomes, such as doctors, lawyers, and our other high net worth clients.

Short-term disability insurance covers a person for a period typically up to six months, paying a stipend each month to cover medical bills and other necessities.

Disability overhead insurance which allows business owners to cover the overhead expenses of their business while they are unable to work is important for small business owners without a key man to operate the business in their absence.

Life insurance provides a monetary benefit to a decedent's family or other designated beneficiary, and may specifically provide for income to an insured person's family, burial, funeral and other final expenses.

Life insurance policies often allow the option of having the proceeds paid to the beneficiary either in a lump sum cash payment or an annuity.

Annuities provide a stream of payments and are generally classified as insurance because they are issued by insurance companies, are regulated as insurance, and require the same kinds of actuarial and investment management expertise that life insurance requires.

Annuities and pensions that pay a benefit for life are sometimes regarded as insurance against the possibility that a retiree will outlive his or her financial resources.

In that since,they are the complement of life insurance and, from an underwriting perspective, are the mirror image of life insurance.

Certain life insurance contracts accumulate cash values, which may be taken by the insured if the policy is surrendered or which may be borrowed against.

Some policies, such as annuities and endowment policies, are financial instruments to accumulate or liquidate wealth when it is needed.

The tax law provides that the interest on this cash value is not taxable under certain circumstances.

This leads to widespread use of life insurance as a tax-efficient method of
saving as well as protection in the event of early death.

The tax on interest income on life insurance policies and annuities is generally deferred.

However, in some cases the benefit derived from tax deferral may be offset by a low return.

This depends upon the insuring company, the type of policy and other variables (mortality, market return, etc.).

Moreover, other income tax saving vehicles (e.g., IRAs, 401(k) plans, Roth IRAs) may be better alternatives for value accumulation.

We all need insurance of some type.

An insurance review is a prudent thing for everyone to do.

Give Essex and Associates the insurance company Dayton,Ohio turns to for professional insurance help.

Give us a call today to discuss your needs and to find out what we can do to help protect you, your family and your business.