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Life & Estate Planning Services

Life & Estate Planning Services in Long Beach, CA | Randall Wealth Group

Life & Estate Planning Services in Long Beach, CA

At Randall Wealth Management Group, we pride ourselves on being a small, family-owned firm. When we develop a new relationship, we look at it as lifelong and treat the client like family. It takes time to cultivate meaning and trust within the scope of the advisor/client relationship. All of our efforts are geared towards gaining the confidence of our clients through our ability to provide appropriate financial solutions to each area of their financial picture. Each client receives individualized care from our team of financial professionals. We specialize in retirement planning and investment services in Long Beach, CA. Our Retirement Planning Software creates a realistic projection of what an individual’s retirement will look like and identifies potential concerns.

Life Insurance

Death, just like taxes, is unavoidable. Ensuring that you have the correct financial investments in place, including life insurance, is very important. This is even more of a necessity if you have loved ones who depend on your income. Life insurance can help cover many different expenses such as debts, funeral and burial, and day to day living expenses. It could make life for loved ones less burdensome after you pass. 

Different Types of Life Insurance

  • Term Life InsuranceTerm life insurance lasts for a certain number of years before it expires. If you die within the term, a predetermined amount, Death Benefit, is paid to your designated beneficiary
  • Whole Life Insurance - Is a type of permanent life insurance because it does not expire. It has a death benefit and a cash value. A cash value acts as a tax-deferred savings account that accrues interest at a fixed rate and each month, a portion of your premium will go into the cash value of the policy. The policy's cash value grows over time and can be withdrawn when it accumulates enough value or is used for a loan.
  • Universal Life Insurance - It's similar to whole life insurance, but you can change the premium and death benefit amounts without getting a new policy. 
  • Indexed Universal Life Insurance - Is a type of universal life insurance, however, the way the cash value accumulates interest is different. The interest accumulation is based on rate and performance of a specific index, like the S&P 500, to set the interest rate for your policy.
  • Variable Life Insurance - The premiums paid goes into the cash value of the policy. The cash value is invested in a series of mutual fund-like sub-accounts where you can earn some growth, but your cash value can also decrease depending on performance of the sub-accounts.
  • Variable Universal Life Insurance - It has the properties of universal life which it allows you to adjust the premium and death benefit while your cash value is invested into mutual fund-like sub-accounts.
  • Final Expense Insurance - This is a unique type of insurance policy that covers the cost of anything associated with your death, including medical care, a funeral, or cremation.

Estate Planning

As we know, life is very unexpected so we help out clients to be prepared for all situations. We walk them through the estate planning process, help prepare them with the different pieces of information they'll need to complete the process, and then refer them to our on-call attorneys that can further assist them.

Why should I use a financial advisor?

Although we have access to a wealth of information in this day and age, including financial information, it is essential to seek the advice of a knowledgeable professional. Why should you get a financial advisor involved? Part of the problem is that there is too much information available, and it can be pretty overwhelming for someone with limited experience in the world of retirement planning. Using a financial advisor to guide and teach you how to make informed decisions can help you avoid making costly mistakes. Call and make an appointment today.

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