Strategic Insurance Services
Insurance Policy for Your Unique Needs
Honorable Insurance & Financial Services is a local insurance services provider in New Orleans, LA. As licensed professionals, our job is to structure each insurance policy based on the concerns, needs, and budget of the individual client. We provide services for all your traditional and more advanced life insurance needs such as the following:
- Annuities
- Business Insurance
- Continuation Plans
- High Cash Valued Life
- Indexed Universal Life
- Return of Premiums Plans
- Term Life
- Whole Life
Consult + Advise + Strategize = A solid structure & a peace of mind!!
Honorable Insurance & Financial Services are proudly & abundantly serving the community of their Insurance & Savings needs. Our professionals use safe & tax-advantaged strategies to leave our clients with a sense of security knowing that tomorrow will be better than today.
“Best time for coverage is when you're young; Next best time is now.”
When you buy life insurance, you want coverage that fits your needs. And deciphering policies can be tricky. First, it's helpful to know how much life insurance you need, for how long and what you can afford to pay. These are just a few questions to consider. questions that you may find easier to navigate with the help of an insurance agent or financial professional. The main reason to buy life insurance of course is to take care of the financial impact of an unexpected death. What are your family's current liabilities? How much money would it take to cover for your lost income if you were no longer there to provide for them? Do you need the coverage to be permanent or just until your kids are out of the house. Life insurance can also be one of the many ways to help you plan for retirement. If you can afford a more robust plan, it could serve double duty.
  | Make sure your loved ones live on …with life insurance!! |
General Services
- Life Insurance - can help replace your income if you pass away. This means your beneficiaries could use the money to help cover essential expenses, such as paying a mortgage or college tuition for your children. It can also be used to pay off debt, such as credit card bills or outstanding car loans.
- Final Expense - can help loved one's use the benefits for the expenses they need to pay, as opposed to just covering burial cost. This coverage includes common final expense costs, such as medical bills, probate or legal fees, and other expenses other policy types don't cover.
- Mortgage Protection - is coverage put in place to pay off your home mortgage if you were to die or become disabled and can no longer make payments.
- Identity Theft - help reimburse victims for money spent on reclaiming their financial Identities and repairing their credit reports.
Strategic Insurance Services
- Retirement Planning - Clients looking to avoid outliving their money and the ups & downs of a risky market. Also enjoy tax-deferred growth, reasonable rate of return & tax free distributions, while leaving a death benefit behind, that will payout 100% tax free to their heirs.
- Death Benefits - For clients that only wants to focus on maximizing the death benefit.
- Working capital - For business owners & self-employed individuals looking to build a safe & tax-advantaged reserve to take care of utilities, supplies, inventory, rent, payroll, business expansion, emergencies, etc.
- Real-Estate Management - For real-estate Investors to build a safe & tax-deferred reserve to help manage the expenses of their properties, expansion of their investments, & emergencies.
- College Savings/Funding - Help parents grow the savings for their kids education tax-deferred, reasonable rate of return, & tax free distribution without any risk of the market. Also, once that time arrives, if furthering their education is no long an option, the funds can be used towards other opportunities without any fear of taxes or penalties being a factor, with a death benefit to come along for the ride. On the other-hand, when compared to the 529 plan for college savings, the funds saved has to 100% used for education expenses. If not used for education purpose the gains will be subject to ordinary income tax, and penalty.
- Emergency funds - Clients looking for Safety, Liquidity, Rate of return, and a Tax free distribution savings reserve that they can access to take care of those unexpected expenses that life always seems to throw our way.
- Estate Planning with Life Insurance - Life insurance has a unique ability to create an immediate estate for your beneficiaries when you die, often for pennies on the dollar. It allows money to be passed directly to the designated beneficiary. Essentially by passing the complications created by probate. Whole life is the best financial product for estate planning. It keeps more of your money in your families pocket, or in the hands of a charity you designate, rather than giving your hard earned wealth to the government in the form of taxes.
- Family Legacy Plan - is a cash value life insurance plan. With the proper planning, the older generation can utilize assets that are not needed and instead make use of them to benefit future generations.
Business Insurance Services
- Buy-Sell Agreement - Agreement ,also known as a buyout agreement, is a legally binding agreement between co-owners of a business that governs the situation if a co-owner dies or is otherwise forced to leave the business, or chooses to leave the business. Also, another way to put it is,(contract for how much you will buy the business from the family).
- Estate Planning with Life Insurance - Life insurance has a unique ability to create an immediate estate for your beneficiaries when you die, often for pennies on the dollar. It allows money to be passed directly to the designated beneficiary. Essentially by passing the complications created by probate. Whole life is the best financial product for estate planning. It keeps more of your money in your families pocket, or in the hands of a charity you designate, rather than giving your hard earned wealth to the government in the form of taxes.
- Key-person/Employee Insurance - Key person Insurance is a life insurance policy a company buys on the life of a top executive or another critical individual. Such insurance is needed if that persons death will be devastating to the future of the company. The company pays the Insurance premiums and is the policies beneficiary, should the person dies.
- 401(K) Retirement Plan - Custom plan design that factor the owner and /or the key employees of the business.
- Safe Harbor 401(K) Plan - Allows the owner and other highly paid employees to contribute the maximum deferral allowed by law no matter how much (or how little) the other employees contribute.
- Defined Benefit Plan - is a tax qualified retirement plan where the employer promises a monthly benefit at retirement, determined by a formula and based on annual compensation, age, and years of service. The deductible contribution is based on the amount needed to fund these benefits. Today's defined benefit plans offer a powerful tax strategy for small business owners, independent contractors and those with higher self- employment income. While defined benefit plan must have recurring annual contributions to fund benefits, one of the most attractive features of the plan is the potential for flexibility of that contribution.
- Cash Balance Pension Plan - Can be described as a "hybrid" plan because it has both defined benefits & defined contribution features. This type of plan can be the best of both worlds - higher defined benefit. limits plus the flexibility to allow higher contributions to the business owner. Since cash balance is considered a defined benefit plan, this means that an employer who is looking to fully maximize deduction potential could fund a 401(k)/ profit sharing plan along with a cash balance plan.
- 412(e)(3)Defined Benefit Pension Plans - referred to in IRS regulations as an "Insurance Contract Plan" is the only defined benefit plan that is exempt from the minimum funding requirements of section 412 of the internal revenue code. This type of plan, therefore, enjoys certain advantages over the traditional defined benefit plan and is worth exploring if you are the owner of a small business. These advantages create a plan that can produce: larger initial deductions, greater stability in the contribution level, simpler plan administration, & a secure promise of future benefits.
“Safety, Liquity, Rate of Return, & Tax free distribution”
Insurance 101
Cash Value Life insurance Makes Sense for:
1. Protecting your money from the market 2. Growing your capital at a reasonable rate 3. Creating a retirement income, college savings, emergency fund, and working capital | 4. Tax advantages on your Growth & distribution 5. Making sure you don't run out of money before you run out of life |
Learn More About Our Insurance Services
Protect your investments with the right insurance coverage. Count on Honorable Insurance & Financial Services for dependable and strategic insurance services that fit your needs, budget, and preferences. If you have further questions about our insurance plans, you may simply complete a form or give us a call to consult with a licensed professional.
Honorable Insurance & Financial Services
Headquartered in New Orleans, LA
