Options for premium reduction and improved coverage.
OJM Group works with individuals and businesses to analyze existing insurance coverage, compare existing policies to alternatives, and recommend options for premium reduction and improved coverage. Because OJM is not affiliated with any insurance company, our team members can help clients secure insurance products that integrate with other aspects of their wealth plans to meet their long-term financial goals.
Life Insurance
For Family Protection
Most people realize that life insurance can protect a family from the financial hardship caused by the premature death of the income earner(s). Beyond that, there are many decisions to make, including type of insurance to select and amount of insurance needed, as well as which company and product to choose. OJM team members can provide the information to help clients make educated decisions in these areas.
As an Asset Class
Permanent (cash value) life insurance is an asset with unique wealth accumulation attributes. When structured properly, life insurance may offer tax benefits, asset protection qualities, and principal protection in ways that other asset classes cannot match. Our team has helped educate clients to better understand this asset class and how it might play a role in their overall wealth plans.
Individual & Disability Income Insurance
For many, the ability to work is their most valuable asset, and a long-term disability is the most likely threat to that asset. Disability income insurance is the tool to protect against such a risk. OJM is familiar with the leading disability income insurance products, and our team members understand how to maximize coverage for professionals and executives.
Individual Long-Term Care Insurance
The statistics on the number of Americans who will need an extended stay in a nursing home or require in-home care are sobering, and government programs require individuals to spend down nearly all personal assets to qualify for government assistance. Long-term care insurance therefore becomes a fundamental piece of many families’ financial planning. OJM team members understand the intricacies of the leading companies’ offerings and can assist clients with product analysis and implementation.
Property & Casualty Insurance
The first line of defense.
Property and casualty insurance is often the first line of defense for an individual or a business in a risk management/asset protection program. OJM’s insurance solutions team can review current coverage, including professional and general liability, property, umbrella, home, auto, and more.
Annuities
Principal protection not often matched.
Like cash value life insurance, annuities, when structured properly, may offer tax benefits, asset protection qualities, and principal protection in ways that other asset classes cannot match. These advantages are especially applicable for those in or close to retirement and those concerned about outliving their capital or just “living off the interest.”
Buy-Sell Agreements
Part of a well-planned protection strategy.
One of the biggest risks to a closely-held business is the disability or death of a partner. The right type of insurance protection can shield the business, the injured/deceased partner’s family, and the remaining partners. OJM can review these coverages with the owner(s) of a business or practice and discuss how they fit into a well-planned business protection strategy.
