Broker Check

Insurance Advising

At Peabody Wealth Advisors, we hold certain core planning principles that we refuse to waver on. Our clients hire us to provide professional advice based on our years of education, training and real world experience. One of these core principles is that you cannot manage wealth without also managing risk. We have seen too many cases in our careers that the failure to plan for risks can result in the failure to plan for your future. You could be a great saver, great investor and great overall planner and your financial plan could still potentially fail. How is that possible you might ask? The answer is almost always the failure to anticipate a risk event. An unforeseen disability, a premature death or a need for skilled nursing care are the primary examples we see.

For example, if you lose your ability to earn income due to a disability and you are the primary/ only breadwinner in your family- what would happen? Your spouse may have to return to work, but at what pay? Who would pay for your medical care or take you for treatments? How would you pay your mortgage or rent? How would you continue to fund your retirement? And the questions get tougher from here.

We can help you address these questions and deliver strategies that are specific to your needs. First, we have Massachusetts Licensed Insurance Advisors on staff. Our advisors will review your current coverage and advise you on the gaps in coverage you may have for a flat fee. You will receive a written report that you are free to implement with the insurance agent/insurer of your choice.

Second, we have insurance agents who are licensed in Massachusetts and multiple other states that will act as insurance brokers on your behalf. We work with only highly rated insurance carriers that specialize in their specific areas of coverage. We analyze the large universe of insurers, narrow it down to a few carriers and then present a strategy that is most appropriate to your needs. Even though we are agents of each carrier, our philosophy is that our duty lies in working for our client, not the insurance company. In this capacity, we are compensated directly by the insurer for our services.

Here are examples of the strategies we deliver to our clients:

For Individuals & Families

Life Insurance for Individuals/Families

  • Mortgage Protection/Income Replacement/Debt Repayment/ Final Expenses
  • Child Rearing/Education
  • Supplemental Retirement Planning
  • College Planning
  • Estate Planning
  • Wealth Transfer/Legacy Planning
  • Charitable Giving Strategies

Disability Income Insurance for Individuals/Families

  • Income Replacement/Mortgage Protection
  • Specialized Risks (Entertainers, Professional Athletes, Pilots, Draft Protection)
  • High Limit DI/Top-Hat Plans
  • Stock Option/ Retirement Plan Completion/Pension Completion Plans
  • Impaired Risks

Long Term Care Insurance for Individuals

  • Traditional Long Term Care Insurance
  • Life Insurance/Long Term Care Combination Insurance
  • Annuity/Long Term Care Combination Insurance

For Businesses

Life Insurance for Businesses and Non For Profit Organizations

  • Buy-Sell/Cross Purchase Agreements
  • Key Person Coverage
  • Loan Indemnification
  • Executive Benefits
  • Cash Value Accumulation for Future Business Needs
  • Non-Profit/Endowment Gifting and Funding Strategies

Disability Income Insurance for Businesses

  • Multi-Life Discount/Guaranteed Simplified Issued DI
  • Buy-Sell/Cross Purchase Agreements
  • Key Person Coverage
  • Loan Indemnification
  • Executive Benefits
  • Business Overhead Expense Coverage
  • Retirement Completion