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At Xiphos Insurance Solutions, we regard insurance as an indispensable part of financial planning. Its complexity is often overlooked, leading to a superficial understanding of its benefits. We incorporate life insurance into our financial strategies, using it as a cornerstone to fortify our clients' financial security.

<br/>What Exactly is Life Insurance?<br/>


What Exactly is Life Insurance?

Life insurance is a pact between a policyholder and an insurance company. In this agreement, the insurer promises to pay a death benefit to the designated beneficiaries upon the insured's demise.

Key Elements of a Life Insurance Policy


Death Benefit

The guaranteed amount the insurance company pledges to the beneficiaries in the policy upon the insured's death.


Premium

This is the payment made to the insurance company to maintain a life insurance policy. Premiums can also boost the cash value of a permanent type of life insurance.


Cash value

This serves dual roles. It functions as an account, which the policyholder can utilize during the insured's lifetime, with tax-deferred cash accumulation through policy loans and withdrawals. Additionally, the cash value can counterbalance the increasing cost or supply insurance as the insured gets older.

Client Centered
  • The Variety of Life Insurance Plans

  • We offer a range of life insurance plans to help safeguard you and your family.
  • Whole life insurance offers enduring protection and accrues cash over time, available to the policy owner when required.

    Advantages of Whole Life Insurance

    Assured death benefit
    Assured cash value
    Potential surplus cash value via any dividends declared by the company. Although not assured, the company usually declares dividend payments annually.
    Fixed premiums that are assured not to fluctuate.

  • Term life insurance provides protection for a defined period. The cost, coverage amount, and coverage duration depend on the type of policy.

    Advantages of Term Life Insurance

    Assured death benefit for a predetermined period
    Fixed premium
    No cash value
    Coverage duration is specific (term), generally for a set number of years or until the insured reaches a certain age.
    Initial premiums are usually lower but may eventually rise.

  • Universal life insurance is a type of permanent insurance that permits policy owners to modify cost, coverage, and cash value according to their objectives.

    Advantages of Universal Life Insurance

    Adjustable death benefit
    Adjustable premium
    Policy cash values are credited with a current interest rate determined by the insurance company, subject to change, but never less than a guaranteed minimum interest rate.

  • This type is potentially suitable for those who require death benefit protection but prioritize cash value accumulation for lifelong needs, like supplementing retirement income.

    Advantages of Indexed Universal Life Insurance

    Adjustable death benefit
    Adjustable premium
    Cash value growth is linked to an interest-crediting strategy associated with changes in a market index, such as the S&P 500.

    Downside protection via minimum guarantees to ensure your cash value doesn't drop due to decreases in the Index.

  • Variable life insurance is a type of permanent insurance that allows the policy owner to guide the investment of the cash value.

    Advantages of Variable Universal Life Insurance

    Adjustable death benefit
    Adjustable premium
    Cash value growth is dependent on the performance of the professionally managed stock, bond, and money market sub-accounts you select. You can create a portfolio that aligns with your risk tolerance and comfort level. Policy cash values vary based on the sub-accounts you're invested in and may lose value, including principal.

    Your earning capacity is a precious asset. Our Disability Insurance offers income protection if you become disabled and can't work, ensuring you can maintain your financial commitments.

  • As we get older, the probability of requiring long-term care services rises. Our Long-Term Care Insurance covers these services, enabling you to receive the care you need without draining your savings.

  • Prepare for a financially secure retirement with Annuities. They can provide a steady income flow during your retirement years, allowing you to relish your golden years with financial tranquility.

Policy loans and withdrawals reduce the policy’s cash value and death benefit and may result in a taxable event.  Surrender charges may reduce the policy's cash value in early years. Withdrawals up to the basis paid into the contract and loans thereafter will not create an immediate taxable event, but substantial tax ramifications could result upon contract lapse or surrender. Policy loans will be taxed as ordinary income if the policy is allowed to lapse. It is possible that coverage will expire when either no premiums are paid following the initial premium, or subsequent premiums are insufficient to continue coverage.

Annuities are long-term investments designed for retirement purposes. Early withdrawals may be subject to a deferred sales charge and if taken prior to age 59½, a 10% federal penalty may apply. Money distributed from the annuity will be taxed as ordinary income in the year the money is received. Account values fluctuate with market conditions, and when surrendered the principal may be worth more or less than its original amount invested. Tax deferral is provided by your employer's plan and the tax deferral of the annuity does not provide any additional benefit. Annuities may be subject to additional fees and expenses to which other tax-qualified plan funding vehicles may not be subject. Guarantees extend to the claims-paying ability of the insurance company.

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If you believe you could benefit from working with a financial professional, let’s review your portfolio, financial trajectory, and goals to see if you’re a good match for our practice.

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