Protection

"Permanent life insurance is perhaps the most underutilized and least understood financial product in America today." 

Barry James Dyke author of "The Pirates of Manhattan"

 

Protection is about insuring against loss. The fact is, most people spend more money in their lifetime protecting their "things" (car, home, jewelry, etc), hoping they never have to use their coverage. Yet when it comes to protecting their life and their ability to earn income, they tend to look for short cuts.

For life insurance, you basically have two choices: permanent or term. The difference is simple; term pays IF you die, permanent pays when you die. When it comes to building a financial strategy, permanent is the vehicle of choice. Although term insurance can always be used, you should limit its use for short term needs.

One thing people don't truly understand is that permanent life insurance offers numerous "living benefits" that you don't get with term insurance. At Distinctive Financial Services we educate our clients on the living benefits of permanent life insurance and show them how it can meet many components of their financial goals.

Disability insurance is another service we offer at Distinctive Financial Services. Protecting your ability to generate income is a vastly overlooked area. After all, its been said, disability is "economic death." Typically, expenses go up while income goes down. A devastating combination.