Reed has been in the insurance business since 1979. He has run the Life and Health division of a large independent agency for over 30 years. He specializes in helping business owners be more efficient with their Employee Benefits packages.
In 2010, he founded Helman & Associates in 2010. He helps business owners design, structure and fund their partnership agreements. Retaining key employees by utilizing benefit strategies has been a big part of his practice in recent years as well. He has recently gone through his certification process to be able to help individuals enroll under the new Affordable Care Act.
Reeds handles life insurance, disability, long term care, employee benefits of all kinds, and currently he is working with the Health Exchange Program.
Reed explained that term insurance is a death benefit with no equity or options. Less than 2% of those policies are paid. The main reason is that people outlive their policies. Permanent insurance on the other hand has many different types of coverage such as whole life, universal life, fixed universal life, etc. With permanent insurance, the Living benefits that build up provide great flexibility, giving you leverage, deferred growth, and so on. It’s an incredible tool to utilize as a supplemental retirement benefit. You can also buy long-term care insurance so you don’t have to wait to die to receive your benefits.
He also referred to Indexed Universal Life that has been around for a while. It is a form of universal life insurance that provides death benefit protection but offers the opportunity to build cash value through index crediting potential based, in part, on a portion of the increases, if any, of one or more stock market indexes. Many Indexed Universal Life products may also offer protection from downside risk through a minimum guaranteed interest rate guaranteed by the issuing insurance company.
Thank you Reed! Very informative!
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Louise reminded us about BRG cruise on the Ruby Princess for Feb. 20, 2014. The price is still very low and there are some good cabins available.