PRODUCTS
WBA Insurance Services is here to help guide you through the often overwhelming process of creating your financial and insurance blueprint. Please use this web site as a resource, review our full range of products and contact us for additional information or to schedule a meeting. We can help you analyze your needs and recommend an appropriate course of action.
Health Insurance
We’ve partnered with exceptional insurance carriers and benefits experts to bring you superior benefits—the kind that will help you attract and keep quality employees without breaking your budget.
Health Insurance. One of our cornerstone products at WBA Insurance Services is offered to our members. Because of our negotiations and leverage your collective buying power, our plans provide great coverage with freedom of choice under our traditional and consumer driven, high-deductible health plan options.
Life Insurance
Many people think that life insurance is only for people with families. While it is true that life insurance can help provide for the needs of dependents, life insurance also can be an important part of a well-thought-out estate, business succession or charitable giving plan. And permanent life insurance offers many living benefits as well, such as tax-deferred cash value accumulation. For all of these reasons, life insurance can be important for someone starting out – or for someone who's starting over.
Read below to learn more about the various types of life insurance that are available.
- WHOLE LIFE - Whole Life insurance is also known as permanent insurance. You receive coverage for your entire life, as long as premiums (which are a set amount per period) are paid. Whole life policies accumulate cash value tax-deferred.
- TERM LIFE - Term Life policies provide coverage for a specific amount of time – such as 5 years, 10 years or 20 years. Term premiums are often less expensive than whole life premiums, but once the term of the policy is complete, coverage terminates. There is no accumulation of cash value.
- UNIVERSAL LIFE - Like Whole Life, Universal Life is a permanent insurance policy, which means that it covers you for your entire life, as long as premiums are paid. Universal life, however, offers you flexibility that enables you to change your premiums and death benefit as your needs change.
- VARIABLE UNIVERSAL LIFE - Variable Universal Life combines the premium and death benefit flexibility of a Universal Life policy with investment opportunities. You can allocate your premium amongst a variety of professionally managed investment divisions plus a fixed account. Assets allocated to the investment divisions are subject to market risk and may lose value. Of course, with investment opportunities comes risk along with the potential for reward.
- SURVIVORSHIP LIFE - Survivorship life insurance – available as whole life, universal life or variable universal life# – covers two people and provides payment of the proceeds when the second insured individual dies. Survivorship life insurance is often used to help meet estate planning or business continuation goals.
Long Term Care Insurance
Most of us strive to live active, healthy lives well into our later years, and indeed as a society, Americans are living longer than ever before. This extended longevity is one of the things that drives the growing need for long-term care – the longer we live, the better the odds that we may need long-term care services. In fact, nearly 50% of all Americans may need long-term care at some point during their lifetime.
Today, about one in five Americans over the age of 65, and almost half of those age 85, need assistance with everyday activities. And if you believe that Medicare is covering the cost of these services, think again. read more myths here...
Annuities
An annuity is a unique financial vehicle designed to help you accumulate money for your retirement and/or turn a lump-sum of money into a guaranteed stream of income payments.
Read below to learn more about the various types of Annuities that are available and which one is right for you.
DEFERRED ANNUITIES - Offer the advantage of tax-deferral and can be used to accumulate money for retirement.
- Variable Deferred Annuities - A Variable Deferred Annuity offers the advantage of tax deferral and can be used to accumulate money for retirement. The policy’s accumulated value – and sometimes the amount of monthly annuity benefit payments – fluctuates with the performance of your investment account. There are fees, expenses and risks associated with the contract. Please be aware than assets allocated to the investment divisions are subject to market risks and will fluctuate in value.
- Fixed Interest Deferred Annuities - With a Fixed Interest Deferred Annuity, the interest rate on your policy is guaranteed never to fall below a certain amount. For many people, this provides a measure of security about their investment.
INCOME ANNUITIES - Used to generate a stream of income payments that is guaranteed to last for as long as you need it to – even for the rest of your life.
- Lifetime Income Annuities - An income annuity where income payments begin immediately - one period after the annuity is puchased. It is designed to provide you with predictable income monthly, quarterly, semi-annually or annually, no matter how long you live, and regardless of how the financial markets perform.
Recently, a group of bipartisan Congressional leaders introduced The Retirement Security for Life Act, which is designed to help Americans maintain their standard of living and empower them to receive a steady "paycheck" for life. The legislation provides a tax incentive — that would be available to any retiree — to encourage investment of some of their individual after–tax savings in retirement vehicles like annuities that provide a guaranteed lifetime income.
Under the proposal, individuals would not pay federal taxes on one–half of the income (up to a maximum of $20,000 annually) generated by annuities that make lifetime payments. For a typical American in the 25% tax bracket, this would provide an annual tax savings of up to $5,000.
For more information on this legislation, visit www.paycheckforlife.org.
Investments
We offer comprehensive products and services to help you develop a sound, long-term investment strategy. You can choose from over 10,000 mutual funds, including self-directed, tax-deferred Individual Retirement Accounts (IRAs). We also provide products to fund plans for companies of all sizes, ranging from SIMPLE IRAs to full-service defined contribution and defined benefit plans.
other products
Through sponsored marketing relationships with other insurance companies, our partners have allowed us to expand our product offerings. These arrangements provide consumers with a variety of products not manufactured by our industry partners. Through these agreements impaired risk life and annuity, and both individual and group disability income insurance.
Impaired Risk Life and Annuity products (fixed and variable) are available from outside carriers when a policy cannot be placed through our partner providers. Eligible situations include substandard rating, declined cases, large case diversification, and specialty risk products.
Disability Income, both individual and group, is available specializing in the impaired risk, blue collar, special risk situations and some white collar markets.