Individual Financial Protection

Life, Health & Income Safeguards

Navigating life’s uncertainties requires a robust personal financial safety net, designed to protect your income, health, and loved ones from unforeseen events. At Westside Retirement & Financial Services, we specialize in providing comprehensive “Individual Financial Protection” solutions, ensuring that you and your family are shielded against potential financial hardships. We understand that your needs are unique, which is why we offer personalized guidance across a spectrum of vital insurance and financial products. From securing your family’s future with “Life Insurance” to protecting your income with “Disability Insurance” and safeguarding your assets against health crises with “Supplemental Insurance” and “Long Term Care Insurance,” our mission is to build a customized defense strategy that provides enduring peace of mind and financial stability.

Life Insurance: The Ultimate Financial Promise
“Life Insurance” is the cornerstone of individual financial protection, representing a fundamental promise to your loved ones. It ensures that should the unexpected happen, your family receives the financial resources needed to maintain their lifestyle, cover essential expenses, and pursue their dreams. We offer tailored solutions to meet various needs:

• Term Insurance: Provides coverage for a specific period, ideal for covering financial obligations that will eventually end, such as a mortgage or childcare expenses during your working years.
• Whole Life Insurance: Offers lifelong coverage with guaranteed premiums and a cash value component that grows on a tax-deferred basis, providing both protection and a stable asset.
• Universal Life Insurance (including IUL/Index Universal Life and 7702 Plans): These permanent policies offer flexibility in premiums and death benefits, along with tax-deferred cash value growth. “Index Universal Life” (IUL) policies link cash value growth to a market index (like the S&P 500) while protecting against market losses, offering growth potential with a level of security. These are often referred to as “7702” plans due to the IRS code section that governs them, highlighting their tax-advantaged status.
• Living Benefits: Many modern life insurance policies now include “Living Benefits” riders, allowing you to access a portion of your death benefit while you are still alive if you experience a critical, chronic, or terminal illness. This provides crucial funds during a health crisis, working for you when you need it most.
• Final Expense Insurance: Specifically designed to cover end-of-life costs such as funeral expenses, medical bills, and other immediate financial burdens, ensuring your loved ones are not left with unexpected bills during a time of grief. “Guaranteed Issue” options are often available for those with health challenges.

Income Protection: Safeguarding Your Livelihood
Your ability to earn an income is your most valuable asset. “Disability Insurance” is a critical safeguard that replaces a portion of your income if you become unable to work due to illness or injury. It protects your financial stability, ensuring you can continue to pay bills, save for retirement, and support your family even when your income-earning capacity is compromised. We help you understand waiting periods, benefit periods, and definitions of disability to craft a policy that truly protects your livelihood.

Health Crisis Protection: Supplemental Insurance for Peace of Mind
Even with excellent primary health insurance, serious health events can lead to significant out-of-pocket expenses and non-medical costs. Our “Supplemental Insurance” options are designed to fill these gaps, providing direct cash benefits to you when you need it most:

• Cancer Insurance: Offers financial support specifically for a cancer diagnosis and treatment, covering out-of-pocket medical costs and providing funds for non-medical expenses like travel for treatment or lost income.
• Accident Insurance: Provides direct cash benefits for injuries resulting from accidents, helping cover deductibles, copays, or everyday expenses during recovery.
• Hospital Indemnity Insurance: Pays cash benefits for each day you are hospitalized, helping cover deductibles, copays, or living expenses while you’re an inpatient.
• Critical Illness Insurance: Provides a lump-sum cash payment upon diagnosis of a covered serious illness (e.g., heart attack, stroke, life-threatening cancer), offering financial relief to use as you see fit during a health crisis.
• Medical Bridge Insurance: Designed to cover the out-of-pocket expenses (like deductibles and coinsurance) that your major medical plan may leave behind, providing a financial bridge during a medical event.
• Gunshot Wound Insurance: A specialized supplemental accident insurance to cover costs associated with injuries from gunshot wounds.

Long Term Care Insurance: Preserving Your Assets and Independence
The potential costs of extended care as you age can be staggering. “Long Term Care Insurance” is crucial for protecting your assets and maintaining your independence. It covers services needed when you can no longer perform daily activities due to chronic illness or cognitive impairment, whether in your home, an assisted living facility, or a nursing home. By proactively addressing these costs, you safeguard your retirement savings and ensure your loved ones are not burdened with immense financial or caregiving responsibilities.

Why Choose Westside Retirement & Financial Services for Individual Protection?
Building a robust personal financial defense requires a clear understanding of risks and tailored solutions.

• Personalized Strategies: We craft protection plans specifically designed for your unique life stage, family structure, and financial goals.
• Comprehensive Coverage: A wide array of life, income, and health-related insurance options to create a seamless safety net.
• Expert Guidance: We simplify complex policies, helping you understand their value and how they work for you.
• Peace of Mind: Knowing you’re prepared for life’s uncertainties allows you to live with greater confidence and less worry.
• Innovative Solutions: We leverage modern policies like IUL with Living Benefits to provide protection that works for you, both today and tomorrow.

Let Westside Retirement & Financial Services be your trusted partner in fortifying your individual financial future. Contact Gregory Doomanis today for a conversation about building a resilient financial plan that protects what matters most.