Life, Income, Disability, Long Term Care, Education Saving,
Life, Income, Disability, Long Term Care, Education Saving,
Insurance to ensure you’re covered for what life throws your way.
Life Insurance
Life insurance provides a tax-free death benefit to your beneficiaries if you pass away, acting as a financial safety net to replace lost income, cover debts (like mortgages or student loans), and fund future needs (such as college tuition or retirement for a surviving spouse).
You pay regular premiums to keep the policy active, with options like term life (affordable coverage for 10-30 years) or permanent life (lifetime coverage with cash value growth). It’s essential because it protects loved ones from financial hardship—ensuring they aren’t burdened by expenses or lifestyle cuts during an already difficult time.
Key takeaway: Life insurance isn’t for you; it’s for those who depend on your income or care.
💡Will your loved ones have the money they need if you’re gone?
For a deeper conversation on your options, contact us!
Let’s Chalk.
Income Insurance
Income Insurance, aka personal pension, aka annuities = Guaranteed Paychecks for Life
Annuities are contracts with insurance companies that convert your savings into a predictable income stream, ensuring you never outlive your money. You pay a lump sum or series of premiums, and in return, the insurer provides regular payments (monthly/quarterly) for a set period or your lifetime—like a personal pension.
Annuities hedge against longevity risk (living longer than your savings), market crashes, and inflation (with indexed options). They’re ideal for retirees seeking stable income beyond Social Security, especially if pensions aren’t available.
💡What if “the market” causes you to lose income?
(865) 465-9811
jay@chalkmoney.com
Disability Insurance
Disability insurance replaces a portion of your income (typically 40-70%) if you become unable to work due to illness, injury, or accident. You pay regular premiums to maintain coverage, and if disabled, the policy pays monthly benefits after a waiting period (e.g., 30-90 days) for either a set term (short-term) or until retirement (long-term).
With 1 in 4 workers facing disability before retirement, it safeguards against lost wages that could derail your finances—covering bills, mortgages, and living expenses when you're unable to earn. Unlike savings (which can deplete quickly) or workers' comp (only for job-related injuries), it ensures stability for both short-term recoveries and chronic conditions.
Act Early: Premiums are lowest when you're young/healthy—don't wait until an injury strikes.
💡What will you do if you suddenly can’t work?
(865) 465-9811
jay@chalkmoney.com
Long Term Care (LTC) Insurance
Long-term care insurance (LTCI) helps cover the high costs of extended care services—like nursing homes, assisted living, or in-home care—when you can no longer perform basic daily activities (e.g., bathing, dressing) due to aging, illness, or disability.
Unlike health insurance or Medicare (which cover limited or short-term care), LTCI pays for ongoing custodial care, which can otherwise devastate retirement savings (averaging $100K+/year). You pay regular premiums, and when care is needed, the policy pays a daily or monthly benefit (up to a set limit) after a waiting period (typically 30-90 days).
With 70% of seniors requiring long-term care and costs rising rapidly, LTCI protects your assets, preserves family wealth, and ensures access to quality care without burdening loved ones. It’s the only financial tool specifically designed to address this costly and emotionally taxing risk.
Hybrid policies combine LTCI with life insurance, paying out for care or as a death benefit if unused.
Act Early: Premiums are lowest when purchased in your 50s/early 60s, before health issues arise.
💡Who will care for you when you can’t care for yourself?
(865) 465-9811
jay@chalkmoney.com
Education Planning with Insurance
Education Planning with Insurance: A Smart Way to Fund Education
Life insurance and annuities can be powerful tools for college, higher education, trade schools, and other forms of educational savings, offering tax-advantaged growth and protection.
Permanent life insurance (like whole life) builds cash value over time that can be borrowed against tax-free for tuition, while annuities provide guaranteed income streams to cover future college costs. These options avoid the limitations of 529 plans (penalties for non-education use) and offer death benefits to ensure funding even if a parent passes away.
Insurance-based strategies provide flexible, secure funding that won’t count against financial aid eligibility as heavily as traditional savings, while also protecting your family’s financial future. Cash value grows tax-deferred and can supplement retirement if unused for college. This is ideal for families who want safety, flexibility, and dual-purpose financial protection.
Depending on your situation, insurance, a 529 plan, or an alternative college savings method will be recommended. Contact your Chalk Money Financial Planner today to schedule a consultation!
💡How will you pay for yours or your loved one’s education?
(865) 465-9811
jay@chalkmoney.com