Death and taxes are the only certainties in life," Benjamin Franklin, 1789. Permanent life insurance addresses both!

Blog Post Editorials
Managing Long-Term Care Expenses in Washington

States have consistently taken a straightforward approach to Medicaid cost recovery: shifting part of the financial responsibility to the Medicaid beneficiary through Medicaid's asset and income spend-down rules. These rules require beneficiaries to deplete nearly all personal income and assets in exchange for Medicaid coverage of long-term care needs.

Understand the Facts about Long-Term Care; It Affects Everyone!

Long-term care insurance can help protect individuals, their families, and their assets against the potentially catastrophic cost of extended care by providing the funds to meet expenses when the time comes.

Do Not Overlook The Power of LIRPs

A Life Insurance Retirement Plan (LIRP) is a versatile financial tool that combines life insurance protection with a tax-efficient cash value component.

The Rise and Fall of Pension Plans Part 2

The Retirement Crisis is a global emergency. To understand why our retirement system is failing in the United States, it is best to understand what other countries are doing better than we are.

The Rise and Fall of Pension Plans: Part 1

Remember the golden days when a job at a reputable company meant more than just a steady paycheck? It was a ticket to a secure future, with promises of a pension that would ensure financial stability long after the working years ended.

Personal Advice That Made a Difference

After a compelling discussion over a cold beer and napkin doodles, I took his advice.

Life Insurance is no longer just a Death Benefit!

Whole life insurance is critical in creating a basis for long-term financial security

Don’t Fall Into the Group Life Insurance Trap

While group life insurance provided by employers might seem like a convenient safety net, its temporary nature often leaves a gap when you make the inevitable leap to new opportunities.

Demystifying the Annuities Market

Despite their appeal, annuities can be complex and confusing for many investors.

How Are Annuities Insured

The level of protection varies from state to state.

Choosing a Financially Strong Insurance Company  

Choosing an insurance company with strong financial strength ratings is essential for ensuring that your claims will be paid promptly and efficiently.

Insurance Companies Financial Strength

Unlike many other sectors, insurance companies operate on a business model rooted in prudence and risk management.

Using The Rule of 100 to Reduce Risk

Welcome to the world of The Rule of 100, a guiding light for retirees who want to embrace financial security without sacrificing growth potential.

How much Young Adults need to save to retire at 65

While having a clear retirement savings target is beneficial, the fluctuating nature of the market can make achieving this goal seem daunting.

Learning from the 2008 Recession and Its Lessons

The repercussions of the 2008 recession were felt far and wide, shaking the foundations of financial security for millions. Retirement dreams were shattered as 401k balances plummeted.

Permanent life insurance offers protection against premature death, provides tax-deferred savings for life expenses like healthcare and retirement income, and enables estate tax benefits.

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Permanent life insurance offers protection against premature death, provides tax-deferred savings for life expenses like healthcare and retirement income, and enables estate tax benefits. 〰️

Dan Prescott Agency specializes in providing financial protection through contractual insurance. We address traditional premature death benefits, tax-deferred savings, supplemental retirement, and estate planning. Additionally, we offer living benefits for critical, chronic, and terminal illnesses utilizing permanent life insurance riders. Insurance companies are also well-suited to meet the ever-increasing cost of long-term care.

As you age, these factors and their associated costs become increasingly significant. An unexpected, premature death can severely impact a family's income and savings, resulting in financial disaster for your loved ones. Life insurance products now offer more than just death benefits; they are crucial for your current living benefits strategy.

“The Insurance Mindset: We readily purchase auto, home, and medical insurance despite increasing premiums. Whole life insurance locks in premiums for life and allows you to access the funds you’ve contributed. Additionally, you are safeguarding your human life value, which is your greatest asset!”
— Unknown

Due to new federal laws and the insurance market's response to changing needs, life insurance products can be tailored to your current financial situation and adjusted to future changes regardless of age.

Death insurance benefits are essential, and we all recognize their importance; however, living benefits can also accumulate through life insurance policies. Insurance companies offer an excellent option for storing money in a tax-deferred, safe, and liquid environment while providing the necessary death benefit in case something unfortunate occurs.

Insurance Products We Utilize

We are intensely focused on the insurance segment that provides permanent, lifelong financial security. Many of our solutions are based on guaranteed permanent whole life insurance, which offers traditional death benefits, cash value savings, and additional life benefits such as health, retirement, and estate planning.

These essential, lifelong solutions can begin being built early in life with affordable convertible term insurance. For individuals seeking a more aggressive approach and requiring flexibility, permanent universal life insurance might be the best option..

By making crucial saving decisions early, exercising financial discipline, and living within our means, we can prepare ourselves for unforeseen financial challenges. Let me be clear: the earlier you start, the lower the cost and the greater your financial security.

The bottom line is that insurance companies manage money very conservatively. They possess the data and expertise to ensure returns. Start early, remain consistent, and commit to your plan.

Life Insurance Retirement Plan - LIRP