The team at Magbitang Financial & Insurance Solutions are trained professionals who can help you identify your financial needs and then determine which financial and insurance products can best help you meet your objectives. Some of the products we often use to serve the needs of our clients include:
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.
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 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.
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. This policy will terminate if at any time the cash surrender value is insufficient to pay the monthly deductions. This can happen due to insufficient premium payments, if loans or withdrawals are made, or if current interest rate or charges fluctuate.
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.
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.
- AdvisorOne Account* – Stocks, Bonds, Mutual Funds, Money Market Accounts
- Mutual Funds*
- Eagle Strategies LLC Investment Advisory Accounts**
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.
Deferred annuities offer the advantage of tax-deferral and can be used to accumulate money for retirement.
Variable Deferred Annuities
We offer comprehensive products and services to help you develop a sound, long-term investment strategy.
Fixed 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.
They are 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.
Guaranteed1 Lifetime Income Annuities
An income annuity where income payments begin immediately - one period after the annuity is purchased. 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.
Long Term Care Insurance
Long-Term Care Insurance is still a relatively new type of insurance product. Many people do not understand what long-term care insurance policies cover, how and when the policies pay benefits, and who should obtain coverage.
Going through life may require a little help along the way. So if you're planning ahead, long-term care insurance may help protect you or a family member's future plans and help preserve the assets you've worked so hard to build.
We have established relationships with other carriers, and can supply you with information on disability income and business overhead expense insurance as well as individual and group health insurance products. If we don't offer it, chances are we can assist you.
To learn more about our products and services, please feel free to give us a call or request a free consulation. We will be happy to answer all of your questions.
- Health Insurance - Individual and Group
- Disability Insurance
- Business Overhead Expense Insurance
AARP and New York Life
Julius Elmer "Joel" M. Magbitang is a certifed A20 Agent, and can offer his clients exclusive life insurance and annuities products through New York Life's relationship with AARP. To learn more about what we can offer, please contact us.