Insurance Solutions PA - Insurance and Financial Services - Roger McGee, Agent, Southern PA & Greater Baltimore MD
Insurance Solutions PA
Insurance Solutions PA is a life, health, and disability insurance agency based in Shrewsbury, PA.
Principal Agent, Roger McGee, offers insurance and financial services to individuals and small businesses primarily in southern Pennsylvania and greater Baltimore. We specialize in all types of life insurance, annuities, health insurance, and disability income insurance products. Retirement planning resources are available in addition to wealth transfer strategies.
Roger McGee has over 3 decades of experience in the financial services industry; continually appointed with numerous top rated insurance carriers offering the most comprehensive and competitively priced products for most client scenarios.
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Providing Individual and Business Clients With
Experienced, Innovative and Effective
Advice and Help in Meeting Their Insurance and
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Specializing in Term, Universal, Indexed, and Whole Life Insurance
with unique "living benefits" that accelerate the death benefit for Terminal, Chronic, and Critical Illness
Individual and Family Health Insurance
Short-term Health Insurance
Disability Income, Business Overhead Expense, and Buy-Out
Qualified and Non-qualified Tax Deferred Annuities
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Fully licensed and insured in PA, MD, DC and VA.
Thanks for visiting,
Roger L. McGee
Click Here to Email Me for Further Details Please contact me directly.
Tax Deferred Savings Options
The hidden values of life insurance
Permanent life insurance provides much more than a tax-free death benefit for life, it is a vehicle to accumulate cash savings on a tax deferred basis, similar to a Roth IRA. The ability to over-fund a permanent life insurance policy, beyond the scheduled minimum payments, enables one to accrue savings in a tax sheltered program, fully accessible without taxation. Additionally, accelerated death benefit riders can provide so-called "living benefits" in the event of severe illness or disability. This access to cash from an accelerated payment of the death benefit could help prevent financial ruin at a time when it is needed most. To find out more about these and other products and strategies; contact us for a personalized analysis.
Deferred Compensation Plan not just for executives
Understanding and Utilizing the features of a permanent life insurance policy
The advantages of tax deferred accumulation in a cash value life insurance policy are widely touted and seminars abound with a plethora of secret strategies. The formula is very simple and this is it: Pay into your policy at an accelerated or over-funded rate, all the way up to the limits set by the government. Pick an amount of coverage; say $100,000.00, and assuming the normal premium might be $60.00 per month, pay all the way up to the maximum per year into it. There is an annual limit called MEC (modified endowment contract) that allows one to pay let's say three or four times the normal premium amount per year into their policy. This results in early cash value accumulations, compounding tax deferred, and this cash value account is accessible to you anytime. This accelerated payment schedule normally will cause the insurance coverage to increase as well. The worst case scenario is that you've paid for your insurance in a few short years, assuming you choose to discontinue the over-funding schedule of payments at anytime. Ask your agent for a few examples; you will be pleasantly surprised.
Term Life ends before you do
What happens when your level premium goes through the roof?
Most term life policies quickly reach a point, usually after 10 or 20 years, when the low level premium that you've grown so accustomed to suddenly increases dramatically. Getting this wake-up call is not pleasant and usually results in a premium that is about 5-6 times higher. Also your payments will then continue to increase annually.
If your health is still great, you can simply apply for another new term. But if it is not so great, well this may not be an option. However, look closely at the "conversion" provisions, if any, on your policy which would allow you to convert the term policy for a permanent policy without health related questions. You could now be diabetic with a history of cancer, for example, and still convert as if you were super healthy like your were when you first purchased that old term plan. You still have to pay a premium based on your current age now, but nice to have an option. Ask your agent if you have "conversion" options on your policy, and when they end?