Insurance Planning For Federal Employees Made Easy With Walker Capital

May 11 18:48 2022
Insurance Planning For Federal Employees Made Easy With Walker Capital

Federal employees have extraordinary benefits packages through their employing agency and access to a variety of additional forms of optional protection. When reviewing ways to protect themselves and their families, federal workers need to create a plan for their insurance coverages including all of the insurance needed to protect themselves, their assets, and their family’s lifestyle properly.  

Protecting Assets With Insurance

Homeowner’s insurance is necessary for anyone who owns a home, and the insurance protects the asset against fires, natural disasters, and criminal vandalism. If the property is in an earthquake or flood zone, the owner needs earthquake or flood insurance coverage. Property owners who have valuables in the home often add riders to protect the assets more fully. 

Auto owners must purchase auto insurance to protect their automobiles and get coverage for liabilities. If the owner is involved in an accident, they could face financial losses if they don’t have adequate auto insurance. By participating in insurance planning, the owner can prevent a major asset loss and avoid higher than average costs because of liabilities or accidents. 

Managing Health Insurance Requirements

For federal employees, the government provides exceptional health care insurance, and the heavily subsidized policies can even cover an employee’s children up to the age of 26. When assessing insurance, the employees review policies that cover medically necessary and elective procedures through the FEHB (Federal Employee Health Benefits) offerings.  The government currently subsidizes about 72% of premiums and that large subsidy can continue into retirement and even to a surviving spouse if the Surviving Spouse Benefit is set up properly.

They have the option to choose a PPO or an HMO to manage their healthcare requirements. The policies provide coverage between 80 to 90% of all medically necessary treatments and surgeries. However, each policy provides a different percentage for elective procedures. 

Securing Life Insurance

Life insurance policies can be extraordinary products for tax planning, Long-Term Care planning, and covering final expenses. The policyholder pays into the insurance policy throughout their life and in the case of permanent insurance, their policy actually accumulates cash value. The owner can borrow money from the policy for a variety of reasons with potential tax advantages.  The policy owner can also accelerate the Death Benefit to help in case of sudden medical expenses. It is also common to have additional triggers allowing access to an acceleration of the Death Benefit so that a life insurance policy can help protect against LTC type concerns.  The flexibility of how a life policy can benefit one has expanded dramatically in recent years with innovative riders and access to cash values but the crux of the plan is a Death benefit.

Long and Short-Term Disability Coverage

Long-term disability coverage is built into ones federal employment but short-term disability coverage is purchased through a private insurance company (or addressed with emergency funds and sick leave). Disability policies provide payments for medical requirements for the disability, in-home nursing care, and may provide wage replacement. 

There are coverage limits for these policies that could restrict how much the policyholder gets after a certain period. When reviewing insurance options, the customer must review all the limits and terms that apply to the coverage. 

Where to Get Help

While Walker Capital presents a variety of financial services, with a long history of extraordinary service, they specialize in the application of life insurance. The WCPG Team examines the client’s finances and insurance requirements to provide insurance targeted to help with both LTC and legacy planning. Estate owners can contact them if the owners need assistance with these planning opportunities today. 

Federal workers complete insurance planning and select all policies they need for their assets and medical requirements. These employees have access to a wider variety of policies with better premiums that are more affordable. By reviewing all the insurance policies they need, the workers can get the most out of their insurance.  

Media Contact
Company Name: Walker Capital Preservation Group
Contact Person: Tom Walker
Email: Send Email
Phone: (704) 879-3137
Country: United States