We provide tailored solutions for individuals, businesses, and financial products to meet your unique needs. Whether it’s safeguarding your personal wealth, optimizing your business, or choosing the right products, we’re here to guide you every step of the way. Partner with us to secure a strong and prosperous financial future.
- Personal Solutions
Here at Bermeo Insurance, we offer a wide array of services to help families address their financial needs at every stage of life. Taking into account their personal values and financial goals, we create and execute customized strategies to help families achieve their objectives. Some of our key services are detailed below.
Charitable planning allows you to support the organizations and causes that matter to you, while often providing immediate income streams and reducing your tax burden. Numerous charitable giving strategies exist, and we can help you design and execute a charitable giving strategy that is in alignment with your personal and philanthropic goals. Please seek tax advice from your own tax advisors.
There are numerous financial strategies and retirement income strategies that can help you accumulate assets for the future, protect your business and personal assets from liabilities, and safeguard asset transfer to children and grandchildren. We can help you figure out what the right course of action is for your specific situation and objectives.
Retirement planning is crucial for professionals and business owners in order for them to stay on track and retire on time.. Our job is to help you address your finances in such a way that retiring on time is made possible.
Planning for the education of your children can be overwhelming, especially when you have just finished paying off student loans of your own. Our team of professionals is prepared to work with you to take into account factors such as tuition growth, risks involved, tax strategies, and more, to create a plan best suited to the needs of both you and your children. Talk to us about education funding today.
The federal gift and estate tax laws that apply to United States citizens are different from those for non-citizens (aliens). Further, there are different rules for resident aliens and non-resident aliens. Whether a noncitizen is a resident for transfer tax purposes depends on his “domicile.” The domicile test considers several factors, including how long the non-citizen has been in the United States, how frequently he travels abroad, and especially his intent to remain in the country. (This test is different from the “green card” and “substantial presence” tests that are used to determine residence for income tax purposes.)
To execute a sound retirement strategy, asset and income protection are a must. Designing a plan that encompasses managing costs for extended periods of care and disability insurance can help create the necessary balance in a portfolio to ensure stability and protection of assets.
When you leave a job or retire, you have a decision to make regarding your 401(k) money. While leaving those assets in the former employer’s plan is an option, a rollover can be a consideration. Working with your tax advisor, we can help you determine the right course of action for you. This may include: leaving the funds in your existing plan, if permitted, or rolling them into your new employer’s plan, if one is available and rollovers are permitted. Each choice offers advantages and disadvantages, depending on your specific needs and retirement plan, such as the desired investment options and services, applicable fees, expenses, and withdrawal options, as well as required minimum distributions and tax treatment of applicable options.
A well-engineered estate conservation plan can help minimize tax liability and ensure that loved ones are protected. We will work with you and your advisors to assess the impact of state and federal taxes on your estate and suggest strategies to help minimize those taxes while meeting your family’s needs. We do not provide tax advice. Please consult with your own advisors for tax advice.
- Business Solutions
Here at Bermeo Insurance, we provide a comprehensive range of services designed to support business owners in addressing their financial needs throughout every stage of the business life cycle. By considering your personal values and financial goals, we develop and implement customized strategies to help you achieve your objectives. Explore some of our key services detailed below.
The success of most businesses is tied in to the talent, passion, and work ethics of their key executives. Executive benefit packages can help you attract, motivate, and retain high-caliber employees and keep your company healthy and stable. We can help you with funding non-qualified plans, supplemental employee retirement plans, split dollar plans, and more.
Key person life insurance offers a death benefit that helps indemnify an employer for the loss of one of its most important assets—the key person. This can help assure continuity of the business for employees, customers, and creditors, and protects against losses in sales, momentum, and credit. It can also be used to assist with recruiting and developing a replacement for the employee.
A buy-sell agreement is a legally binding agreement between co-owners of a business that governs the situation if a co-owner dies or leaves the business, whether by force or by choice. A funded cross-purchase buy-sell plan utilizes life insurance to help ensure that the arrangement is properly funded so that there will be money if the event occurs.
Succession planning allows owners to retire from their business within their own time frame, while preparing for the company to be transferred to family members, key employees, an outside party, or even a charity. This must be done in a way that achieves personal financial security, maintains harmony, and achieves maximum value for the business. We can provide financial strategies for succession planning.
Deferred compensation is a written agreement between an employer and an employee in which the employee chooses to have part of his or her compensation withheld by the company, invested on their behalf, and distributed to them at a predetermined point in the future. Deferred compensation can be used as a flexible way to attract and incentivize key employees. We provide funding strategies for deferred compensation.
Nowhere is that more apparent or more important than for our Employee Benefits clients. We know that the success of a benefits package doesn’t end at enrollment; that’s just the first step. Employers and their employees have a vested interest in the reliability, efficiency and compliance of their health, dental and other benefits, and we share that expectation.
- Product Solutions
Insurance and Annuities
At Be Insurance, we offer a comprehensive range of insurance and annuity products designed to provide financial security and peace of mind. Our insurance solutions, are tailored to protect you and your loved ones at every stage of life. Our annuities provide a reliable income stream for your retirement, ensuring financial stability and helping you achieve your long-term financial goals.
We are here to help you safeguard your future and build a prosperous legacy.
Whole Life Insurance
Whole life insurance is also known as permanent insurance. You receive coverage for your entire life, as long as premiums (which are a set amount per period) are paid. Whole life policies accumulate cash value tax-deferred.
Term Insurance
Term life policies provide coverage for a specific amount of time—such as five years, 10 years, or 20 years. Term premiums are often less expensive than whole life premiums, but once the term of the policy is complete, coverage terminates. There is no accumulation of cash value.
Universal Life Insurance
Universal Life insurance is designed to offer customizable death benefit protection with non-guaranteed planned premiums and a non-guaranteed death benefit. Depending on the product selected and the amount of premium you pay, Universal Life insurance can allow you to keep your coverage as long as you need: to age 80, 90, 100 or longer. Because of the policy’s flexible and non-guaranteed nature, it is important to fund your policy properly and actively manage your policy to reflect changes in interest crediting rates and policy charges over the duration of your policy. This policy will terminate if at any time the cash surrender value is insufficient to pay the monthly deductions. This can happen due to insufficient premium payments, if loans or withdrawals are made, or if current interest rates or charges fluctuate.
Survivorship Life Insurance
Survivorship Life insurance—available as whole life or Universal life —covers two people and provides payment of the proceeds when the second insured individual dies. Survivorship Life insurance is often used to help meet estate planning or business continuation goals.
Disability Insurance
Disability insurance is also called disability income (DI) insurance. If you become too sick or injured to work for an extended period of time, DI could help cover a portion of your income, including bonuses and commissions. It’s important to know that even if you have group long-term disability insurance through your employer, it may not be enough.
Long-Term Care
Long-term care is ongoing assistance someone needs to do basic daily activities as the result of a chronic health challenge or cognitive impairment. These various home, community-based and facility services are generally not covered by private health insurance or government programs
Health Insurance
The Affordable Care Act (ACA), also known as Obamacare, is the Patient Protection and Affordable Care Act authorized on March 23, 2010. This health reform law extends and improves access to healthcare while reducing costs through regulations and taxes. One of the most significant benefits brought by this law is coverage for pre-existing conditions.
Medicare
Medicare is a federal health insurance program for people aged 65 and older, certain individuals with disabilities, and patients with end-stage renal disease (ESRD). Medicare typically covers 80% of medical and hospital expenses. To cover the remaining 20%, you can enroll in one of our Medicare plans, ensuring you don’t have to pay anything out of pocket. This way, you can focus on what matters most: your health, without worrying about medical expenses
Final Expense Insurance
Final Expense Insurance is designed to cover the costs associated with end-of-life expenses, ensuring that your loved ones are not burdened with financial worries during an already difficult time. This type of insurance typically covers funeral expenses, burial costs, medical bills, and other related expenses, providing peace of mind that these costs will be taken care of.
Disability Insurance
Disability insurance is also called disability income (DI) insurance. If you become too sick or injured to work for an extended period of time, DI could help cover a portion of your income, including bonuses and commissions. It’s important to know that even if you have group long-term disability insurance through your employer, it may not be enough.
Long-Term Care
Long-term care is ongoing assistance someone needs to do basic daily activities as the result of a chronic health challenge or cognitive impairment. These various home, community-based and facility services are generally not covered by private health insurance or government programs
Health Insurance
The Affordable Care Act (ACA), also known as Obamacare, is the Patient Protection and Affordable Care Act authorized on March 23, 2010. This health reform law extends and improves access to healthcare while reducing costs through regulations and taxes. One of the most significant benefits brought by this law is coverage for pre-existing conditions.
Medicare
Medicare is a federal health insurance program for people aged 65 and older, certain individuals with disabilities, and patients with end-stage renal disease (ESRD). Medicare typically covers 80% of medical and hospital expenses. To cover the remaining 20%, you can enroll in one of our Medicare plans, ensuring you don’t have to pay anything out of pocket. This way, you can focus on what matters most: your health, without worrying about medical expenses
Suplemental
supplemental insurance is designed to give you that extra peace of mind by covering expenses that other plans might not. Whether you need additional protection for hospital stays, critical illnesses, or unexpected accidents, our specialists are here to help you find the perfect supplemental plan for you and your family. With Be Insurance, you ensure the extra protection your loved ones deserve.
An annuity is a unique financial vehicle designed to help you accumulate money for your retirement and/or turn a lump sum into a guaranteed stream of income payments. Deferred annuities offer the advantage of tax deferral and can be used to accumulate money for retirement. Income annuities are used to generate a stream of income payments that are guaranteed to last for as long as you need them to—even for the rest of your life.* Some of the different types of annuities are
Fixed Deferred Annuities
With a fixed deferred annuity, the interest rate on your policy is guaranteed never to fall below a certain amount.* For many people, this provides a measure of security.
(A fixed deferred annuity is subject to a sales charge for early withdrawals, which may be subject to income tax. Withdrawals prior to age 59½ are subject to a 10% tax penalty.)
*Guarantees are dependent upon the claims-paying ability of the issuing insurer.
Income Annuities
A lifetime income annuity is an annuity in which income payments begin one period after the annuity is purchased. It is designed to provide you with predictable income monthly, quarterly, semiannually, or annually, no matter how long you live, and regardless of how the financial markets perform.
All guarantees associated with annuity contracts are based on the claims-paying ability of the issuing insurance company. Withdrawals may be subject to regular income tax, and if made prior to age 59½, may be subject to a 10% IRS penalty. In addition, surrender charges may apply.
