- Life Insurance
- Estate Planning
- Disability Income Replacement
- Long Term Care Insurance
- Guaranteed Retirement Income
Life Insurance
At Cambridge, we take the time to listen and understand your specific situation. Your family's lifestyle, goals and budget are our benchmarks as we customize a solution to meet your needs. We are dedicated to helping our clients build secure financial futures. With honest communication and mutual trust, we strive to create long-term relationships and meet our clients' changing needs.
Products We Offer
Term Life Insurance
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Permanent Life Insurance
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Executive Carve-Out |
Why Cambridge?
Independent
An insurance Agent represents the insurance company and the company's best interest. As an independent Broker, we represent our client's best interest. This may sound like a minor difference, but is a major differentiator. Our open-architecture platform provides access to over 40 insurance companies to ensure the best combination of price, coverage and service. Click here to learn more.
We Make It Easy
Life insurance is a complex financial tool but we can help take the guesswork out of the process. We can help answer all your questions, including:
- How much insurance do I need?
- How long do I need coverage?
- What type of policy is most appropriate?
Family Oriented
Our goal is to give you peace of mind to know that your loved one's are adequately protected. As a Cambridge client, you become part of our family and will have access to our company owners 24/7 via their personal cell phone.
Estate Planning
Estate planning maximizes the value of your assets for heirs by reducing taxes and eliminates uncertainties over probate administration. A properly crafted estate plan ensures your assets pass to the people you have selected and in the manner desired. Working as a team with your T&E attorney and other advisors, Cambridge evaluates which insurance techniques achieve your goals to minimize state and federal taxes.
Products We Offer
Second to Die Universal LifeSecond to Die Universal Life - with first to die riderSecond to Die Universal Life - No additional premium after 1st death |
Second-To-Die Universal Life Insurance (also referred to as Survivorship)
Most people do not want heirs to hastily sell assets in order to pay estate taxes. For small business owners and those with large real estate or IRA assets, it is often difficult to liquidate those assets without a negative impact. Survivorship insurance provides liquidity for estate taxes when the second spouse dies. The policy can also be used for heirs to replace the value of an asset gifted to charity or the value of an asset sold to pay state or federal estate taxes.
Using a No-Lapse Guarantee, Survivorship Universal Life can guarantee coverage to age 90, 100 or through age 121 at a cost much lower than single life policies. This lower cost and a benefit payable when estate taxes are due are reasons that these policies are so popular for estate planning purposes.
Disability Income Replacement
Your most valuable asset is often your ability to earn an income. If you were no longer able to work due to an injury or illness, could you afford to live without your income? Individual Disability Income Protection is a must for business owners and highly compensated executives.
Cambridge specializes in designing Disability Income protection for individuals, business owners and executives. Through corporate sponsored programs, Cambridge maximizes the coverage available on a guaranteed issue basis (no medical exam). Business owners should also consider laddering group Long-Term disability coverage on top of their individual disability policies. For more information, click here to view our Disability Case Studies.
Products We Offer
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Traditional Individual Disability Income Replacement
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Multi-Life Individual Disability Income Replacement (Unisex Rates & Discount)
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Executive Carve-Out with Guaranteed Issue (No Medical)
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High Limit Excess Coverage
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Group Disability Income Replacement
Long Term Care Insurance
Cambridge has been a pioneer in the LTC market providing insurance since 1992 to ensure our clients protect the assets they have worked a lifetime to accumulate. An estimated 70 percent of Americans who reach the age of 65 will need some form of LTC services meaning there is a very good chance you will have to use your personal assets to pay for care. Without proper planning, Long-Term care services can be financially devastating. For example, the annual cost for a one-year nursing home stay was $162,000 in Manhattan with a national median cost of $78,000*. Home care can also cost up to $70,000 for eight hours per day of services.
LTC insurance provides financial benefits to offset these costs, but equally as important, provides peace of mind that you will not be dependent on others or be a burden to your children. Long-Term care services can be provided in one's home or a community-based setting for those needing assistance with activities of daily living as a result of injury, illness or the effects of advancing age. LTC services are not covered by Medicare, Medigap or group health insurance. As Americans continue to live longer, the demand and cost for LTC services will continue to increase. However, one does not need to be old to access LTC services as a car accident, skiing accident or severe illness can be debilitating at any age.
Products We Offer
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Individual Long Term Care Insurance
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Multi-Life Long Term Care Insurance
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Group Long Term Care Insurance
When should I buy LTC?
Similar to Life and Disability Insurance, LTC premiums are lower when you are younger. 40% of LTC services are provided to those under age 65, so you should consider LTC insurance while still relatively young and healthy. If you cannot transfer the full risk today, consider buying a small policy that fits into your budget and enhancing the coverage in the future. LTC premiums generally do not increase with age unless an insurance company raises premium for an entire class of policyholders and the increase is approved by your State Department of Insurance.
Important Notice: Some states provide a tax credit for LTC premiums. NY State provides a 20% tax credit on your personal taxes for qualifying LTC insurance policies. Call us for more information.
* U.S. Departmnent of Health and Human Services, "National Clearinghouse for Long-Term Care Information," www.longTermcare.gov/LTCGuaranteed Retirement Income
Most people spend their lives building a business and accumulating assets but have focused little attention on the proper distribution of those assets. Cambridge believes in helping you protect the assets you have worked a lifetime to accumulate. We understand how to transfer risk to protect and distribute your assets in retirement without the fear of outliving your money.
Products We Offer
- Single Premium Immediate Annuities
- Fixed Deferred Annuities
- Indexed Annuities
- Variable Annuities
Strategies We Offer
- IRA Maximization
- Pension Maximization
- Guaranteed Legacy for kids/grandkids
- Succession Planning
- Buy-Sell Planning