Personalized Insurance Solutions, LLC

10/08/2024

It is so important that parents of children with special needs protect them by proper planning with a qualified attorney. Click the link to learn more. https://www.linkedin.com/pulse/planning-family-members-special-needs-david-london--cv70e/

09/12/2024

We have all seen the advertisements on TV showing the wonderful 10-year term rates. But is ten-year term a good idea or bad idea? It depends on the situation!

When is ten-year term a good idea? If the individual truly only needs the protection for ten years and there is no question that life insurance protection will never be needed after ten years, it can be the right move. For example, it may be the right solution when the individual’s youngest son or daughter is already eighteen years old, and life insurance on the parent is only needed until the youngest child completes college and other assets that are already accumulated will take care of the family after that.

When is ten-year term not a good idea? If one needs life insurance protection for longer than ten years, it is not a good idea to get ten-year term for the first ten years under the assumption that, when those first ten years are over, the individual can simply buy another ten-year term policy. The reason is this: the term policy bought ten years later will be at an older age and therefore a significantly higher premium. As a result, the combined premium for both term plans may wind up costing a lot more than if the individual had simply bought a twenty-year term policy at the outset. More importantly, the individual may develop a health problem during those first ten years that will make the individual uninsurable after that.

There is a lot to consider when purchasing life insurance. People’s needs change over time, and many people are often not even aware of the various needs for life insurance that may come up in the future.

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07/30/2024

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A Will: In order to make sure that your assets go to your loved ones when you pass on and not have the courts make that decision, it is important to create a Will or Revocable Living Trust with the help of a qualified attorney. If you have children, this is especially important since a Will would a

12/08/2022

Hello and thank you for visiting my Facebook business page. I am David M. London, an with many years of experience specializing in , , , , and working as a team with , , and in the creation of effective .

My clients include , , , , (including , , , and ), , and those in many other occupations. Two of my clients were insurance agents themselves.

I am firmly dedicated to finding the very best solution for each individual client. My work, which combines a commitment to both excellence and integrity, ensures that the job will be done right. Since there is no fee, my services should not cost any more than if the client tried to do it on his or her own, or tried to use an online service.

Here are just two of the many reviews:

⭐⭐⭐⭐⭐
Over the years one learns who to trust and consider as one of your advisors. Dave London is one of those people. I was introduced to Dave almost 40 years ago when I started my business. At that age one never guesses there would be a need to cover your expenses if you were injured or disabled. I am one of those people who all of sudden became disabled from a medical event. To my surprise, all those years of paying premiums turned out to be a blessing for me and my family. In addition, my office was able to stay open and my overhead expenses were covered. I am thankful for Dave’s honest appraisal of my situation and how he showed me to protect myself and those around me. He is a man of integrity. Thank you Dave London.
J.S. (Orthodontist)

⭐⭐⭐⭐⭐
David London is a pure pro at what he does. He works very hard for his clients and uses his vast experience to help anyone who needs it. David was a true hero to me and our family when he helped us with life and disability insurance so that now we know exactly what we have insurance wise and we can live our lives with peace of mind knowing we are protected. I can’t recommend David and his services highly enough. He works directly for his clients and does all the research FOR YOU!! He is amazing.
C.D. (Attorney)

LICENSE & CREDENTIALS:
✔️Master's Degree at Johns Hopkins University
✔️Bachelor's Degree at University of Maryland Baltimore County
✔️Licensed in life, disability, annuities, and long term care insurance in MD and PA
✔️National Association of Insurance and Financial Advisors, Member

Since they protect the client's most important financial assets, I specialize in the following areas:

✔️Life Insurance
✔️ (Disability Insurance)
✔️Long Term Care Insurance
✔️Hybrid Policies
✔️Working as a team with attorneys, accountants, and financial planners in the creation of effective estate plans

👉Life Insurance
No one can replace the loss of a loved one. However, you can make sure that, when someone passes away, it will not cause a secondary catastrophe of financial trauma as well. By implementing the right type of life insurance in the right way, a family can be sure that, if a breadwinner passes away, the family’s income will not be disrupted but continue so that lifestyle, housing, food, college, retirement, and other important plans will not be devastated. Similarly, if a non-working parent passes away, a proper plan will ensure that the proper finances will be there to pay for the necessary services in his or her absence.

Additionally, in recent years, life insurance has evolved to the point where, in some plans, one can now take a significant portion of the death benefit while living! In such plans, if one finds out that they have only a year or two to live, have a catastrophic illness or injury, or need long-term care, they can take a vast portion of the death benefit (beyond cash value and dividends) even while living to pay for any expenses they wish! In other plans, if the insured cannot perform two of the six basic functions of daily living or has a cognitive impairment such as Alzheimer’s, they can take all of the death benefits even while living to pay for care at home or in a facility. This can be a tremendous benefit for people in such situations!

✔️There are many types of life to choose from:
✔️ , which is insurance for a specified number of years and has no investment component.
✔️ , which is permanent insurance with a fixed premium that has a cash growth aspect through the accumulation of cash values and dividends.
✔️ , which is a form of permanent insurance with a flexible premium that has an investment aspect through cash values that grow according to an insurance company rate.
✔️ , the newest form of permanent insurance, which has a flexible premium and an investment aspect through cash values that can be set up to grow with the markets and go up when the market goes up but guaranteed never to go down when the market goes down.

Both universal life and indexed universal life can be over-funded to maximize investment growth. The funds of all of these permanent plans grow and can be removed and used on a tax-favorable basis.

👉Income Protection ( )
The most important insurance for most people is income protection in case of long-term illness or injury. This essential coverage protects your most important financial asset: your ability to go to work every day and earn a living. Statistics show that there is a one in four chance of becoming disabled for an extended period of time before retirement age. Although it is important to insure your life, your house, your car, and other assets, if you become unable to work due to long-term illness or injury and do not have a quality income protection program in place, you can lose everything!

A quality income protection plan includes the following:
✔️Covers you if, due to illness or injury, you are totally OR partially unable to work in your own occupation.
✔️Replaces all of your after-tax income, plus pension contributions and student loans.
✔️Has benefits that can be set up to be income tax-free and increase each year so that you can keep up with the cost of living.
✔️Has benefits that continue to retirement age or life.
✔️Has an optional catastrophic rider available which provides additional benefits similar to long-term care plans.

The best plans also allow you to take them with you if you change jobs, have premiums guaranteed never to increase, cannot be canceled by the company for any reason except non-payment of premiums, and do not have common flaws preventing the individual from obtaining benefits. A properly set up income protection plan will ensure that, at what might be the most trying time of your life, your income will continue as if you were still working.

👉Long Term Care Insurance
People are living much longer and, as a result, it often becomes necessary for round-the-clock care in later years if the loved one needs help with two or more of the following: bathing, continence, dressing, eating, toileting, or transferring—or has a cognitive impairment such as Alzheimer’s. This type of custodial care is not covered by health insurance or Medicare. The result can be an enormous drain on the family—both emotionally and financially. It can also result in the loss of one’s assets to pay for the needed care, spending down one’s assets to almost nothing until Medicaid finally begins paying for the care, or having a family member give up his or her job to take care of the loved one.

For many people, the solution is either
(1) having a traditional long-term care policy that will pay for care for the loved one in one’s own home or in a facility.
(2) a hybrid annuity that will accomplish this.
(3) a hybrid life insurance policy with an effective long-term care rider or chronic illness rider wherein one can take a large portion of the death benefit (in some plans) or all of the death benefit (in other plans) while living to pay for the long-term care.
(4) a hybrid long-term care policy where, if it is not used for long-term care during the person’s lifetime, a significant amount of the long-term care benefit will go to the family as a death benefit.

Each person’s situation is different and must be evaluated properly.

👉Working As a Team With Attorneys, Accountants, and Financial Planners in the Creation of Effective Estate Plans

It is said that everyone has an estate plan; the question is whether you want to be the one to decide who gets what, or whether you want the government to make that decision. In order to make sure that your assets go to your loved ones, it is important to plan properly and put those plans into your will or living trust with the help of a qualified attorney. If you have a family member with special needs, this becomes even more urgent for their protection. Life insurance is often an essential aspect of this and necessary to carry the plan to fruition. An insurance advisor can be of invaluable assistance by working as a team with your accountant and attorney to make sure that everything is coordinated just the way you want it.

If you are looking for an experienced with a commitment to both excellence and integrity, I would love to help you! To find out more about my services, email me at [email protected] or give me a call at 410-905-1077. I look forward to hearing from you!

👉I also invite you to connect with me on LinkedIn:https://www.linkedin.com/in/david-m-london/

Personalized Insurance Solutions - Maryland and Pennsylvania
David M. London
PersonalizedInsuranceSolutions.com
[email protected]
Mobile: 410-905-1077

10/03/2022

https://personalizedinsurancesolutions.com/every-adult-should-have-these-5-documents-drawn-up-by-a-qualified-attorney/

A Will: In order to make sure that your assets go to your loved ones when you pass on and not have the courts make that decision, it is important to create a Will or Revocable Living Trust with the help of a qualified attorney. If you have children, this is especially important since a Will would al

09/02/2022

Rising inflation has many Americans turning to their credit cards, driving up both their balances and their debt. This debt counselor gives his three best tips for paying down credit card debt, even when "now more than ever it is critical for Americans to survive day-to-day costs of living".

https://www.cnbc.com/2022/08/16/how-to-pay-down-your-credit-card-debt-as-interest-rates-jump.html

08/31/2022

Planning for Family Members with Special Needs

As I mentioned in a previous blog, it is very important for every adult to have a qualified attorney prepare the following documents: a Will or Revocable Living Trust, a Power of Attorney, a Medical Power of Attorney, and a Living Will. However, if one has a family member with special needs, it is e

08/16/2022

Removing an Important Threat to One’s Retirement Savings

Most people agree that it is extremely important to save for retirement. During our retirement years, we will have the same desire for a good quality of life that we have at our current age. It is therefore essential to start investing for retirement as early as possible. However, as we start inv

08/16/2022

Protecting Your Most Important Financial Asset

People generally agree that their most important financial asset is their ability to go to work every day and earn a living. Statistics show that one in five twenty year old's can expect to be unable to work--either partially or totally-- for an extended period of time due to an illness or injury at