Life Insurance, Annuities, and Long Term Care Insurance
Kurt F. Felker and Felker Financial, Inc. is one of the Twin Cities experienced choices for life insurance, annuities, and long term care. I value your well-being and personal security. As a BBB-accredited business, my goal is to provide you with comprehensive life insurance coverage. I have over 30 years of experience as a trusted local business.
The owner and founder, Kurt F. Felker, President, is a licensed insurance producer serving clients in Minnesota and other states. This includes Wisconsin, Florida, Texas, and Arizona. Kurt F. Felker is also affiliated with other professional agents licensed to sell life insurance, annuities, long term care insurance, and disability insurance!
I am successful in showing many people how to save money on their life insurance premiums. Please call me if you would like to see a proposal and believe that you are insurable at the “preferred” or “standard” rates. I may also be able to help if you think you would get “rated up” for various health reasons, or if you believe that you have other pre-existing conditions which could increase your life insurance premiums. You may still be able to possibly lower the premiums you would pay for a new policy offering. Furthermore, life insurance policies that have mortality rates which are based upon what is known as “1980 CSO” should be analyzed for a possible premium cost savings. The “1980 CSO” is based upon Society of Actuaries calculations, and “Commissioners Standard Ordinary (CSO)” basic mortality tables.
– Kurt F. Felker, President
Insurance Agency Owner
Felker Financial, Inc.
5775 Wayzata Boulevard, Suite 700, St. Louis Park, MN 55416
Minnesota Life Insurance Producer License: #779616.
Count on Felker Financial, Inc. to provide you with solutions to your life insurance concerns. He also offers fixed annuity life insurance coverage, to assist you with the tax deferral of your savings. Keep in mind that most life insrance policies require health underwriting and, in some cases, financial underwriting. Guarantees are backed by the financial strength and claims-paying ability of the issuing insurance company.
- Fixed Indexed Universal Life Insurance (FIUL)
- Cash Distributions from Life Insurance Policies
- Current Assumption Universal Life Insurance
- Whole Life Insurance
- Term Life Insurance
- Fixed Indexed Annuities (FIA)
- Fixed Annuities
- Income Annuities
- Immediate Annuities
- Long Term Care Insurance
- Chronic Illness Riders on Life Insurance
- Disability Insurance
Kurt F. Felker is prepared and dedicated to discuss your coverage options and start designing the right plan for your needs. You may request a personalized analysis and proposal. Please call Kurt F. Felker of Felker Financial, Inc. at 763-227-6425. MN Life Insurance Producer License: #779616.
Please note: This is NOT a recommendation to liquidate an IRA, 401K plan, or securities for the purpose of purchasing life insurance. This is NOT appropriate without proper licenses and registrations. Additionally, IRAs and 401K should not be completely discounted, especially when the client is receiving a company match.
The information and opinions included are provided by third parties and have been obtained from sources believed to be reliable, but accuracy and completeness cannot be guaranteed by Kurt F. Felker or Felker Financial, Inc. These information is not approved by, endorsed by, or affiliated with the U.S. Government or any governmental agency.
Life insurance may feel complicated to even the most sophisticated client. It also serves many potential purposes in a wide range of economic circumstances. It is my role to build a relationship with individuals to show them the precise way in which life insurance can enhance their lives, sometimes dramatically. This process requires conversation and a relationship, and therefore may not be properly explained through an internet purchase alone. Here is a basic list, but certainly not complete
- It provides a
seteconomic payout at death. In other words, financial protection for the economic value of a life. These death benefits are usually tax free.
- Life insurance is an accumulation tool for both short term and long term purposes1. The taxes on gains may usually be avoided with proper planning. In other words, accumulations should be designed to grow
tax deferred ,and may be accessed using cash distributions. Cash distributions can mean several things such as surrenders, loans, withdrawals, or the various use of dividends on whole life insurance policies.
- Life insurance may be used in estate planning for equalizing benefits and paying taxes. Life insurance is useful between business partners who need to create buy-sell agreements that require an immediate need for cash at an untimely death.
- Life insurance may be used to fund non-qualified retirement accumulations for business owners and key employees, because of its combined tax and accumulation qualities. Additionally, these plans may allow owners and key employees to participate without including all the employees of the business. In other words, these life insurance funded plans can allow discrimination as a business owner may select.
Accumulations in a cash value insurance policy can be accessed in a lump sum or with the flexibility to choose to receive cash distributions over an extended period of time. One advantage of purchasing a cash value policy is that it may reduce the amount of term life insurance that needs to be purchased. I have seen many term policies get dropped as the premiums increase to levels that may eventually cost more than what a cash value policy may require.
Business Continuity involves the transfer of a business’ interests to other business partners or to family members. These transactions, particularly involving family members, can be complicated and may require buy-sell agreements or other transfer agreements. In the case of family businesses, it may be that only one child is taking over the business, and equity fairness can also come into play. If a business owner or partner dies prematurely during the course of business, cash may be needed to effect a fair buy out and compensate the company for loss of talent. Life insurance, properly designed, may be mandated as these sometimes emotional choices may be elegantly balanced by the use of insurance.
Fixed Indexed Universal Life Insurance Policy (FIUL)
Do you want to build cash distributions for the future?
With Fixed Indexed Universal Life Insurance (FIUL), your cash value can accumulate tax-deferred and may possibly not decrease due to market volatility1.
Fixed Indexed Universal Life (FIUL) provides your beneficiaries with a death benefit that’s generally income-tax-free. The death benefit will help your family maintain their way of life when you pass away. With proper planning, it can help your business carry on without you and provide resources to grow over the long term.
Fixed Indexed Universal Life (FIUL) offers the potential to accumulate cash value tax-deferred without losses due to market volatility2 – with an interest bonus3 (available on certain index allocation options) you can choose to help increase accumulation potential4.
2. Mortality cost of insurance and fees will reduce the cash value of your FIUL policy.
3. Bonus products may include higher surrender charges, longer surrender periods, lower caps, or other restrictions that are not included in similar products that don’t offer a bonus.
4. Policy loans and withdrawals will reduce available cash values and death benefits, and may cause the policy to lapse or affect any guarantees against lapse. Additional premium payments may be required to keep the policy in force. In the event of a lapse, outstanding policy loans in excess of unrecovered cost bases will be subject ordinary income tax. Withdrawals are generally income tax-free, unless the withdrawal amount exceeds the amount of premium paid. Tax laws are subject to change. Clients should consult their tax professional.
Term Life Insurance
How many years would you like your term insurance policy to last for? Felker Financial, Inc. does extensive research on over 50 life insurance companies. I specialize in helping my clients obtain coverage on 5, 10, 15, 20, 25, 30 and even 40 year level premium duration policies.
Fixed Indexed Annuity (FIA)
Since the market crash of 2008, I have noticed a sharp increase in clients concerned about whether they will outlive their income in retirement. There has been uncertainty surrounding the future direction of the financial markets, the Middle East, the threat of higher taxes, inflation, health care costs, and longevity risks. This has many Americans searching for answers.
These concerns have led me to create a new division of my practice called “Income for Life”. This focuses on ways to create and protect retirement income. I will attempt to map out a retirement income strategy report for you. How does each source of income (Social Security, Pensions, 401K Plans, IRAs) interact under varying life circumstances – such as inflation, higher tax rates, layoff, loss of pension, or death of a spouse? These factors may cause a significant loss of income in retirement.
As a courtesy to my existing and prospective clients, I would like to extend my personal invitation for a private financial review. This will include your personalized “Income for Life” report1.
Estate Planning, Charitable Giving, & Philanthropy
Estate planning is to provide for those that you leave behind. Life insurance is a natural solution to these needs. This can include providing economic benefits for estate taxes, income taxes, and final expenses. Additionally, it is quite common for those in a more affluent situation to provide liquidity for continuation of their heirs’ current lifestyle, or to prevent a business interest from being eroded in value for a successor. Life insurance can allow a discounted payment to structure the ultimate liquidity to cover these liabilities.
Another socially responsible act that many successful individuals and families practice is charitable giving and philanthropy. Tax advantages, increased cash flow and continuation of core values can be an irreversible benefit outcome of this type of planning. It is not uncommon to realize benefits to the donor and heirs that place them in a much better financial position after implementing appropriate charitable giving techniques. The motto of “Doing well by doing good” is a cornerstone of philanthropic planning. By using qualified and legal tax professionals, you may receive up to date and responsible advice.
Vast Array of Life Insurance Coverage Options
My company cares for you and your loved ones the way I would for my own. I seek to provide you with insurance coverage that best suits your lifestyle needs. Count on Felker Financial, Inc. for your protection and financial plans. I will handle your financial affairs with the utmost care and privacy.
I am located in Minneapolis, MN, and am open Monday through Friday from 8:00 AM to 5:00 PM. I do work evenings and weekends if your time schedule requires it. Call today at 763-227-6425 for inquiries!