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Above all, the decision to attain life insurance is about providing financial security for you and your loved ones. Purchasing life insurance indemnifies your family from financial losses that can occur if something devastating happens to you. This includes paying off debts, living expenses, and even medical fees. Upon your death, your family will immediately receive your policy’s payout (death benefit), which is generally not subject to federal income taxes. For example, a $500,000 policy provides $500,000 in death benefit proceeds directly to your beneficiary. In addition to death benefits, many people don’t realize that life insurance contains several living benefits as well. Your policy can deliver a specified sum of money when a chronic, critical or terminal illness occurs. Our team will help educate you on all the benefits of life insurance for you and your family.
Many people today think their home and investments are their biggest assets. In reality, your greatest asset is your ability to earn an income. Everything from paying your mortgage to saving for a child’s college education depends on your earning ability. A serious illness or injury that prevents you from working can substantially reduce your income. According to the 2020 Insurance Barometer Study, two-thirds of working Americans couldn’t make it six months before financial difficulties would set in, and 14% said they would face immediate problems. Hefty medical bills that pile up can make an already unfortunate situation much, much worse. Financial hardship from an injury or illness could lead you to burn through your savings, sacrifice your quality of life or even lose your home. One of the best ways to protect your future earning potential and keep you and your family on solid financial ground is through a disability insurance policy.
According to AARP, the lifetime probability of being cognitively impaired or becoming disabled in at least two activities of daily living is 68% for people aged 65 and older. Unfortunately, many people today do not prioritize the need for long-term care, as they’re often more preoccupied with their current state of living. At Classic Financial, we believe we have an obligation to address all our clients’ needs, especially when they are no longer able to do so themselves. It is important to think ahead and have a plan in place to help get the quality care that you deserve. Accounting for your long-term care needs entails more than just purchasing an insurance policy. It’s about designing a comprehensive strategy that will protect both your well-being and your assets. You shouldn’t have to choose between your health and your financial future. Let us help you develop a plan that ensures your long-term care needs are met, but not at the expense of your finances.
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Building Relationships Through Honesty, Integrity and Service
Vice President
Ellen is a native Californian and comes from a family of educators. She graduated from California State University, Northridge with a BA in Liberal Studies and an additional 30 postgraduate units in special education. Always interested in the business world, she incorporated her knowledge and background with children and was the Primary Director of a Resident and Day Camp in Malibu. Her leadership skills helped grow and organize the business to make it one of the most successful Children’s Camps in Southern California.
After a decade long career as an educator, her teaching credentials enabled her to help clients understand how to reach their financial goals. Ellen has been in the financial business since 1992 and has been working with Charlie for over 25 years. One of her priority roles with Classic Financial is to help clients better understand the programs and tools they implement to reach their financial goals. She has direct contact with every client and coordinates all quarterly, semiannual and annual reviews. Ellen is a member of the MDRT’s Quarter of the Table and has received numerous acknowledgments for her financial success and professionalism.
Charlie moved from New York to California in 1982 and began his career in the Financial Planning industry with Mutual of New York in Beverly Hills. In 1994, Charlie decided to extend his education and obtain his Certified Financial Planning designation. In addition to completing a comprehensive financial planning curriculum approved by the CFP Board, CFP® professionals are required to complete continuing education coursework. This includes a CFP Board-approved code of ethics course that sets forth their ethical responsibilities to the public, clients and employers. CFP® professionals must have a minimum of three years’ experience in the personal financial planning process prior to earning the right to use the CFP® certification marks.
Charlie has been helping individuals, business owners and health professionals reach their financial goals for over 30 years. In effort to provide clients with a more personalized and comprehensive approach, he began Classic Financial in 2000. Charlie is also an Investment Advisor Representative and Insurance Agent. He is a member of the MDRT’s Top of the Table and has been recognized several times for his financial aptitude.
