Joseph Garcia
Senior Financial Strategist
NPN#: 19947493
P: (888) 551-5530
E: life.info@JMG-Financial.com
US Army Veteran
ABOUT
Let me tell you a little bit about who I am and what I do. I’m a licensed insurance producer for multiple states. I work for Family First Life, the largest insurance brokerage firm in the country. In 2020, we sold over $800 million in life insurance policies and last year, 2021, we were close to selling $1 billion in life insurance policies. This year, 2022, we are projected to sell over $1 billion in life insurance policies. I’m contracted with over 30 top financially rated companies in the country. Each of these companies is grounded in strength and stability, and have ratings of "A" to "A+" from the four major rating bureaus like Moody's, AM Best, Standard & Poors, and Finch Rating, but most importantly their ability to pay their claims out on time and in full. As a Senior Financial Strategist, I’m considered a subject matter expert in Term and Whole Life policies, specializing in mortgage protection and final expenses. I'm also well-versed in asset protection, retirement income planning and wealth management through the application and strategy of Index Universal Life (IULs) and Fixed Index Annuities (FIAs). What that specifically means is that talking with me today is equivalent to talking to all the companies all at the same time. This really allows the process to be as independent and impartial as possible for you with your best interest in mind and also it gives me the ability to go through and search all the plans available to you that you can qualify for; which policy is going to give you that highest possible value for that lowest possible premium. I look forward to speaking with you in person or over the phone to help you find the affordable coverage that you're looking for.
SERVICES
Mortgage Protection Life Insurance
Mortgage Protection Insurance is a way to protect one of your most valuable assets in the event of a death. Most terms are designed to give you a full return of premium if you outlive the policy. In the event of a death, the mortgage will be paid in full, so your family can keep the house.
Retirement Planning-
Universal Life Policies
This is a type of permanent policy that allows the insured to accumulate cash value in addition to their death benefit. It can be set up to help supplement your retirement plan.
Final Expense Life Insurance
Final Expense Insurance will cover yo for life. Prices are locked and will never increase nor will your policy end. These types of policies are designed to make sure all funeral and other end of life expenses are covered.
Retirement Planning-
Fixed Index Annuities
This is a safe way to participate in the market's gains while avoiding potential losses and keeping your retirement secure.
LIFE INSURANCE CARRIERS
I work with multiple A-Rated Life Insurance Carriers which allows me to find the best coverage and rate for you based on your health and age. I take away the hassle of shopping around for life insurance so you don't have to. Contact me to get a free quote to see which carriers you'll qualify for.
FREE QUOTE
Get your free quote, then schedule an appointment with Joseph to get started on your insurance coverage.
What you will get:
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Different coverage options from multiple carriers that fit your needs and budget
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Price points for each coverage option
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A breakdown of the coverage you'll receive
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A consultation on what the best options are
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And an opportunity to submit an application
7 BENEFITS OF FIAs FOR RETIREMENT
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Power of Indexing
Indexing allows your retirement to participate and lock-in the upside market gains, but never in the downside market losses. The hypothetical example above shows how when a market index (such as the S&P 500) increases, the FIA participates and locks in the gains, but when the market index declines, the FIA does not lose value. With Indexing, your retirement is always safe and your principal and gains will never be lost due to market downturns.
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Safety and Security
We represent only those financial institutions that carry an “A” rating or higher with the major financial rating institutions (Moody’s, AM Best, Fitch, S&P). This means that they have excellent financial outlooks to secure your funds. Furthermore, all companies are registered as Legal Reserve entities in the State you reside in, so they have to prove each year that they have at least one (1) dollar of liquid reserves for each one (1) dollar of liability. Lastly, each State also carries a guarantee fund which the annuity companies pay into to provide an additional layer of security and guarantees.
FIAs allow your funds to grow tax-deferred. This results in Triple-Compounding Interest. You earn interest, you earn interest on your interest, and you earn interest on the money that you would have normally paid in taxes. Assuming a 25% tax bracket and a 5% annual gain, a $100,000 FIA would have 12% more after 10 years when compared to a non-tax deferred investment, such as a bank CD.
Tax Deferred Growth
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Eliminate Fees
We can’t control the market, but we can control the fees we pay. Many of us are unaware what fees we are being charged and how it is eroding our nest-egg. FIAs can eliminate the fees seen in traditional equity investments, such as load fees, expense fees and 12b-1 fees. According to the Investment Company Institute, the average annual fees (expense ratio & 12b-1) for equity mutual funds were 1.50% per year. These fees, which offer no guarantee, can erode a substantial amount of your retirement over time.The graph shows amount lost to fees of 1.50% over 20 years on a $100,000 investment earning 5%
A very real and dangerous risk in retirement is the Sequence of Returns Risk. This risk involves the order in which your investment returns occur. An investment portfolio, over time, might have a very favorable average annual return, but if a retiree experiences too many negative returns in a short period of time, while withdrawing funds to live off of, they could actually run out of money in retirement.
Eliminate Market Risk
The graphic shows actual market returns for different periods of time in U.S. history. Notice how the portfolio with the higher average annual returns results in depletion of the account by age 84 because of Sequence of Returns Risk.
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Guaranteed Lifetime Income
Only annuities can offer guaranteed lifetime income. Traditional investments can pay a retiree principle and investment returns, but annuities offer a third dimension called Mortality Credits, which are unique to annuities (FIAs). These Mortality Credits can provide higher withdrawal rates in retirement when compared to SAFEMAX rates and can guarantee a paycheck for life, even if the money has been depleted.
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Avoid Probate
Annuities, just like life insurance, go directly to beneficiaries and avoid probate.
According to LegalZoom.com, average probate cost is 2%-4% of the estate, with some states as high as 7%.
If you had $300,000 in an annuity, you could be saving up to $21,000 in probate costs!
FAQ
Do I need life insurance?
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Life insurance provides a solution for those who seek income replacement, leaving a legacy, mortgage protection, estate planning, or burial expenses. If you have a loved one dependent on you financially, you need life insurance.
Why are my monthly premiums so high?
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Life insurance premiums are determined by the insurance carriers and are based on the individual's age, gender, tobacco use, health, and prescription history.
I've been declined multiple times. Will I still be able to get coverage?
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Since I'm an independent life insurance agent, I have the luxury of working with multiple insurance carriers. Which gives you a higher chance of getting approved by one of them!
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How long will the appointment take?
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Typically appointments can take 25 minutes to an hour depending on certain factors. Sometimes there are multiple applications that need to be submitted if you are denied coverage.
Will I need to get a medical exam to get a policy?
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No, since these are all non-medical plans, you will not be required to get a medical exam. But, if you get a policy with a significant amount of coverage, you may have to get a medical exam.
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When will I receive my policy?
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It depends on if you requested to receive your policy via email, or if you requested to get a hard copy mailed to you. Once approved for coverage, you will see your policy within a few business days in your email. If it's going through the mail it could range from 1-2 weeks.
Have another question?
HELPFUL RESOURCES
Life Happens is focused on educating you about what life, disability, and long-term care insurance are and how these financial tools, along with annuities, can help you put a strong financial foundation in place so that you and your loved ones, and even your business, can thrive financially.
Care.com is a tool to help you calculate and estimate the total cost of care giving for children seniors. This will help families plan for unforeseen financial costs over a period of time, so they can make more informed decisions with their money.