The David Capital Group, Ltd.
6301 Waterford Boulevard, Suite 105
Oklahoma City, OK 73118
Phone: (405) 445-5030
Email us: email@example.com
Our firm does Estate and Business Planning for Family Businesses, Affluent Individuals and Financial Institutions. We use insurance services and products: Life – Disability – Health – Long Term Care – Annuities. The David Capital Group, Ltd. is operating in the life insurance and financial services industry. Federal and state authorities regulate the sale of life insurance and other financial service products. Our producers are licensed in the following states: Arizona, Arkansas, Colorado, Florida, Georgia, Illinois, Kansas, Louisiana, Missouri, New York, Ohio, Oklahoma (Resident State), Texas and Wyoming.
You may already realize that life insurance is important when it comes to protecting your spouse, children, or other people who depend on you such as a parent or disabled relative. But did you know that life insurance can also be a tool to help you meet other financial goals? If you own a business or have a sizeable estate, you may want to consider life insurance as part of your financial strategy.
Everyone`s life insurance needs are different. A common belief is that you need 10 times your yearly salary,
but there are many other things to consider. How many people depend on you for support? What kind of
lifestyle do you want to provide for your family? Would your working spouse have to stop working to raise
the children if something happened to you? You should also take into account any outstanding debts, other
sources of income, big one-time expenses like college, and a host of other things. If you already own life
insurance, you`ve taken an important first step. But it`s a good idea to review your needs every few years,
because as your life changes, so should your life insurance choices.
If you`ve recently married or divorced, had a child, begun to care for a parent, or bought a new home, it`s
wise to reassess your situation. The larger the demands on your finances that is, the more people who look
to you for support the more life insurance you may need. Several large U.S. insurance rating services assign
letter grades to insurance companies based on the company`s financial strength and claims paying ability.
These major rating services include A.M. Best; Moody`s; Standard & Poor`s; Fitch; and The Street.com.
You can find their rating information on the Internet or get it from your prospective insurance company.
According to some experts, if you`re buying a permanent life policy or an annuity, the company should be rated by at least three of the five rating services and have one of the top three ratings by at least two of those services. This may sound extreme, but keep in mind that life insurance is not primarily an investment--you`re buying it for the death benefit--so you want to feel secure that the company will be in business and able to pay a claim when you or your heirs need it.
Beyond the regular protection you get through the policy, permanent life insurance can help provide a source of tax-deferred income that you can access when you retire. When you pay your premium, part of it goes into the cash value that accumulates tax-deferred. After you retire, you can turn the built-up cash value into income through policy loan, surrender and in some cases, withdrawal.