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Tom Meaglia, ChFC®, AEP®,
CLU®, CRPC®, MSFS
Chartered Financial Consultant
Investment Advisor Representative
Chartered Retirement Planning Counselor
CA Insurance Lic. #0567507
Meaglia Financial Consulting
2105 Foothill Blvd., #B140, La Verne, CA 91750
Toll Free: 800-386-3700
Bus: 909-593-6105
Cell: 818-681-8600
Fax: 909-593-6120
Email: tom@meagliafinancialconsulting.com
Website: www.meagliafinancialconsulting.com
March/April 2020
Taking a Ride with Life
Do you know that life insurance offers a variety of options depending on the type of policy, just like when you’re buying a new car? As in a new car, these options, known as “riders” in insurance-speak, can make all the difference. Take a look at the following riders* (in alphabetical order) and talk to your insurance professional to see if any fit with your insurance needs:
Accelerated Death Benefit Rider
If the insured person has a terminal illness, that person may receive a portion of the benefit while alive to pay medical expenses.Accidental Death Benefit Rider
This rider pays an additional amount of typically up to two times the death benefit in the event of an accidental death.Cost of Living Rider
Some whole life insurance policies allow you to increase your coverage by the same percentage the government’s Consumer Price Index increases.Guaranteed Insurability Rider
This rider guarantees that you can renew your policy regardless of health. Some policies even allow benefit increases at certain birthdays without medical underwriting.Long-Term Care Rider
Like the Accelerated Death Benefit Rider, this rider allows you to take early benefits to pay for long-term care.Paid-Up Additions Rider
This rider uses whole life dividends to increase the policy’s cash value and death benefit.Return of Premium Rider
A few term life insurance policies offer this rider, which returns some or all of the premium at the end of the agreed-upon term.Term Conversion Rider
This rider can be an important one for younger policy holders who buy term insurance because of its affordability,but intend to convert to whole life insurance down the line. The rider guarantees a coverage without medical underwriting.
Waiver of Premium Rider
If you become disabled and can no longer work, this rider will waive your premium payments.* Applications for life insurance are subject to underwriting. No insurance coverage exists unless a policy is issued and the required premium to put it in force is paid. Riders may incur an additional premium. Rider benefits may not be available in all states. Guarantees are based on the payment of required premiums and the claims paying ability of the issuer. Riders that pay benefits for events other than death will likely reduce the policy’s death benefit and cash value.
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Thomas Meaglia is an Investment Adviser Representative of Coppell Advisory Solutions LLC, dba, Fusion Capital Management, a registered investment adviser that only conducts business in jurisdictions where it is properly registered, or is excluded or exempted from registration requirements. Registration as an investment adviser is not an endorsement of the firm by securities regulators and does not mean the adviser has achieved a specific level of skill or ability. The firm is not engaged in the practice of law or accounting.
Insurance and annuity products are not sold through Fusion Capital Management. Fusion does not endorse any annuity or insurance product, nor does it guarantee any insurance or annuity performance. Annuity and life insurance guarantees are subject to the claims-paying ability of the issuing insurance company. If you withdraw money from or surrender your contract within a certain time after investing, the insurance company may assess a surrender charge. Withdrawals may be subject to tax penalties and income taxes. Persons selling annuities and other insurance products receive compensation for these transactions. These commissions are separate and distinct from Fusion's investment advisory fees.
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