Individual Products

We offer a variety of products that can help you meet a number of insurance and financial goals. We invite you to read all about the insurance and financial products we can offer and to contact us for an in-depth discussion of your financial goals.


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Life Insurance- Many people think that life insurance is only for people with families. While it is true that life insurance can help provide for the needs of dependents, life insurance also can be an important part of a well-thought-out estate, business succession or charitable giving plan. And permanent life insurance offers many living benefits as well, such as tax-deferred accumulation. For all of these reasons, life insurance can be important for someone starting out — or for someone who's starting over.

You can use the articles on this page to learn more about the various types of life insurance that are available.

  • Whole Life - Whole Life insurance is also known as permanent insurance. You receive coverage for your entire life, as long as premiums (which are a set amount per period) are paid. Whole life policies accumulate cash value tax-deferred.
  • Term Life - Term Life policies provide coverage for a specific amount of time – such as 5 years, 10 years or 20 years. Term premiums are often less expensive than whole life premiums, but once the term of the policy is complete, coverage terminates. There is no accumulation of cash value.
  • Universal Life - Like Whole Life, Universal Life is a permanent insurance policy, which means that it covers you for your entire life, as long as premiums are paid. Universal life, however, offers you flexibility that enables you to change your premiums and death benefit as your needs change.
  • Variable Universal Life* - Variable Universal Life combines the premium and death benefit flexibility of a Universal Life policy with investment opportunities. You can allocate your premium amongst a variety of professionally managed investment divisions plus a fixed account. Of course, with investment opportunities comes risk along with the potential for reward.
  • Survivorship Life - Survivorship life insurance – available as whole life, universal life or variable universal life – covers two people and provides payment of the proceeds when the second insured individual dies. Survivorship life insurance is often used to help meet estate planning or business continuation goals.
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Long-term Care Insurance - Koss Benefits offers a number of Long Term Care insurance options, designed to help protect your assets and preserve your freedom of choice We work with the finest companies in the industry, offering both reimbursement and indemnity-based coverage for facility, home or community-based and alternate care. We conduct extensive research into plan designs and carrier quality to ensure your questions are answered and your needs are well met. We know you expect nothing less.


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Disability Income Insurance- For more than a decade, Koss/Benefits has understood that your ability to earn a living is among your most valuable possessions. We help design and implement Disability Income Insurance plans that pay monthly income benefits to you when you are unable to work because of an accident or illness, taking time to explain crucial differences between policies that affect such things as how much you pay and whether the insurance company can increase your rates in the future.  More importantly, we assist you throughout the underwriting and claims process to help protect you against mistakes that could cost you money when your income is most needed.

Annuities
 

Annuities**- An annuity is a unique financial vehicle designed to help you accumulate money for your retirement and/or turn a lump-sum of money into a guaranteed stream of income payments. Deferred annuities offer the advantage of tax-deferral and can be used to accumulate money for retirement. Income or immediate annuities are used to generate a stream of income payments that is guaranteed to last for as long as you need it to -- even for the rest of your life.

  • Variable Deferred Annuities*** - A Variable Deferred Annuity offers the advantage of tax deferral and can be used to accumulate money for retirement. The policy’s accumulated value – and sometimes the amount of monthly annuity benefit payments – fluctuates with the performance of your investment account. 
  • Fixed Interest Deferred Annuities - With a Fixed Interest Deferred Annuity, the interest rate on your policy is guaranteed never to fall below a certain amount. For many people, this provides a measure of security about their investment.
  • Immediate Annuities - As the name implies, Immediate Income Annuities are annuities under which income payments begin immediately – one period after the annuity is purchased.
  • Split Annuities- "Split Annuities" are actually two different annuity products -- the deferred and immediate annuity -- in one.  A “Split Annuity” is used to generate income while preserving principal. It is used to generate immediate income while accumulating money in either a deferred annuity.  The deferred annuity can either be a fixed interest or variable annuity with the potential to help you keep pace with inflation. 

Need a little help in deciding which products would be right for you? Please use the Contact Us button on the left to e-mail us. We can help you analyze your needs and recommend appropriate products. 


* Variable Universal Life Insurance Policies are sold by prospectuses, which contain more complete information including fees, contingent deferred sales charges, and other costs that may apply.

** Early withdrawals from annuities may be subject to surrender charges (contingent deferred sales charges).  Withdrawals may be subject to ordinary income tax and, if taken prior to age 59 1/2, a 10 percent federal tax penalty may apply.  Fixed annuities are not insured or guaranteed by the FDIC or any other government agency.
 

***Variable annuities are sold by prospectuses, which contain more complete information including fees, contingent deferred sales charges and other costs that may apply. Contact your registered representative to obtain current prospectuses.  Please read the product and fund prospectuses carefully before you invest or send money.  Investors should consider the investment objectives, strategies, risk factors, charges and expenses of the underlying variable portfolios carefully before investing.  The fund prospectus contains this and other information about the underlying variable portfolios.  Early withdrawals or surrenders may be subject to surrender charges (contingent deferred sales charges).  Withdrawals may also be subject to ordinary income tax and, if taken prior to age 59 1/2, a 10 percent federal tax penalty may apply.  For tax purposes only, withdrawals will come first from any gain in the contract.  Federal and state tax laws in this area are complex and subject to change.  Consult your personal tax advisor on all tax matters.  Withdrawals may reduce the death benefit, cash surrender value and any living benefit amount.  Guarantees based on the claims paying ability of the issuing company.  Guarantees do not apply to the investment performance or account value of the underlying variable portfolios.  Variable annuities are long-term investment vehicles designed to accumulate money on a tax-deferred basis for retirement purposes.  Upon retirement, variable annuities may pay out an income stream of a series of payments or a lump sum.  If you die during the accumulation or payout phasse, your beneficiary may be eligible to receive any remaining contract value.  Product, product features and rider availability vary by state.

 

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