The Money | 07.2015


With correct planning—health, disability and life insurance
will protect you and your loved ones—and also provide for
your retirement income.


With marriage equality—equal responsibilities need to be considered to protect all loved ones.

Traditionally, the head of family will make sure that the spouse and/or the children have the right health protection, adequate coverage to make sure that the income will be flowing even if he/she is disabled and income is there even when he/she has left us.

There are plans that can be designed to provide the above protection and create a TAX FREE retirement income.

1. Health Insurance

Thanks to the Affordable Care Act, insurance companies can no longer deny coverage due to a  pre-existing illness, there is no cap on lifetime maximum benefits, and most importantly, the premiums are designed to be affordable to everyone, including low income families.

A person can acquire health coverage via Covered California or privately. Due to some limitations regarding doctors and medical establishments within Covered California, I suggest that more affluent folks purchase their coverage privately.

 2. Disability Insurance

Short or long term disability policy is a great way to protect your income—to ensure monthly income and prevent hardship.

Designed for each individual for his/her occupation or for all employees on a group policy.

The individual plan can be designed with own occupation rider which allows the insured to work in  another occupation—and receive disability income at the same  time.

3. Life and Retirement Income Insurance

Life insurance provides peace of mind and financial stability to your loved ones after your death. The amount of coverage should be at least 10 times the insured annual income. The benefits could help the family to pay the mortgage, create a higher education fund for children and other financial needs and obligations, including annual income.

With correct planning, a life insurance policy plan may be used to accumulate wealth as retirement income. All IRA plans have tax differed accumulation, but the tax on withdraws are unavoidable. However—planed income withdrawal from life insurance can be TAX FREE and the life insurance policy will remain intact. In today’s market the life policy will follow the S&P 500 which will provide higher interest for wealth accumulation.


For more information contact Morris Kamkar at Kamkar Insurance Agency (Lic# 0744100). Tel: (213) 743-9191,