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Life & Disability Insurance
Farah Financial Group is your Life Insurance specialist. We offer an array of Universal, Term, Indexed Universal and Variable Life plans, and all can be designed around your personal needs or those of your company.
Term Life is an excellent way to provide the most coverage with the smallest premiums. Choose from 10, 15, 20 or 30 years of guaranteed premium levels and coverage. We also offer Term Life for Mortgage Protection with an optional 100% return of premiums, tax free, at the end of the benefit period.
Traditional Universal Life is a great example of permanent coverage because it earns tax deferred interest.
Variable Life Insurance allows you to maintain permanent coverage with more control, flexibility and tax advantages while you invest in several different sub accounts (mutual funds) within the insurance policy.
Short Term Disability and Long Term Disability plans are the most overlooked coverage and two of the most imporatant because they protect your income on a tax-free basis. Popular features of our Long Term Disability benefit include 100% return of premiums to claim-free policy holders, refunds of unused premiums and premium refunds in the event of untimely death. Benefits are based on age, occupation and income, as well as current health, and do not interfere with workers’ compensation coverage.
Health Insurance
The Health Insurance arena can be volatile and confusing. Whenever your company, family or individual needs change, we’ll be there to provide advice and alternatives, implement changes and provide the personal attention you need.
Group and Individual Health Insurance
Our Health Insurance Specialists and Brokers can provide Individual and Group Health Insurance, including HMO, PPO and POS plans with the region’s top four carriers: Blue Cross and Blue Shield, Aetna, Aflac and United.
Individual Health Insurance and Long Term Care Insurance is also available with other highly rated companies. We also provide Dental, Vision and Supplemental Insurance, which can be packaged separately or as part of a comprehensive Health Insurance plan.
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What are the advantages and disadvantages to universal, term, indexed universal and variable life insurance coverage?
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Farah Financial Group provides business owners with maximum flexibility and tax advantages, so they can focus on generating the revenue critical to their business success.
Working with a Financial Advisor, you will structure and fund the right program to pursue your business goals. And as your needs change over time, we will work with you to make the adjustments you need keep your goals in focus.
Group Health Insurance
Our health insurance specialists and brokers provide group health insurance, including HMO, PPO and POS plans, from with the region’s top 4 carriers: Blue Cross and Blue Shield, Aetna, Aflac and United.
In addition to primary coverage, Farah Financial Group offers Supplemental Health and Life Insurance from Aflac, the #1 Supplemental Insurance company in the United States. Aflac is known for paying cash to supplement or replace a policyholder's income when an accident or sickness prevents them from working. Most of Aflac's policies are individually underwritten and marketed through its independent agents.
Individual Health Insurance and Long Term Care Insurance is also available with other highly rated companies. We also provide Dental, Vision and Supplemental Insurance, which can be packaged separately or as part of a comprehensive Health Insurance plan.
401(k) Plans and Simplified Employer Plans (SEP)
Farah Financial Group implements 401(k) plans through a Professional Alliance with a trusted Third Party Administrator, and they can be arranged for companies of all sizes.
We also offer Simple IRA’s for business owners and their employees. Simplified Employer Plans (SEP) are advantageous for self-employed individuals and independent business owners because they allow more flexibility and larger contributions than an IRA.
Health Savings Accounts
The Health Savings Account or HSA is an IRS approved program, which allows individuals, individual business owners or families to receive tax deductions on premium payments. The program also allows additional saving in an interest bearing, tax deferred account.
Account holders pay a monthly premium plus a minimum deposit of $25.00 per month. The premium covers out-of-pocket expenses on medical costs, while the deposits can be used toward deductibles. Any amount paid toward the deductible is not taxable.
The HSA is an excellent alternative to traditional health insurance because of its flexibility and tax advantages. And, unlike other “use-it-or-lose-it” health savings programs, your money will never have to be spent if you choose not to. Unused deposits are treated much like a traditional IRA: they earn interest indefinitely and may be withdrawn without penalty after the age of 59 ½. |
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Business Insurances and Deferred Compensation Plans
Business insurance protections are a must in today’s competitive environment. Whether you need a Buy/Sell agreement, Key Person coverage or Salary Continuation plan, Farah Financial Group can help you protect your assets throughout the life of your business.
Employee turnover can be costly and interrupt key business processes, which is why employee retention is also a high priority for businesses today. Deferred Compensation plans are a great way to redirect assets that would normally go to taxes, and keep the employees you want for the long term.
Life & Disability Insurance
We offer a wide variety of employer-sponsored Life Insurance and Disability Insurance policies. Your Farah Financial Registered Representative can help you determine which benefits will best fit in your budget.
Term Life is an excellent way to provide the most coverage with the smallest premiums. Choose from 10, 15, 20 or 30 years of guaranteed premium levels and coverage. We also offer Term Life for Mortgage Protection with an optional 100% return of premiums, tax free, at the end of the benefit period.
Traditional Universal Life is a great example of permanent coverage because it earns tax deferred interest.
Variable Life Insurance allows you to maintain permanent coverage with more control, flexibility and tax advantages while you invest in 36 different sub accounts (mutual funds) within the insurance policy.
Short Term Disability and Long Term Disability plans are the most overlooked coverage and two of the most important because they protect your income on a tax-free basis. Popular features of our Long Term Disability benefit include 100% return of premiums to claim-free policy holders, refunds of unused premiums and premium refunds in the event of untimely death. Benefits are based on age, occupation and income, as well as current health, and do not interfere with workers’ compensation coverage.
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What kinds of business protections should I consider for my independently owned company?
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A Farah Financial representative can help you understand the four keys to successful retirement analysis: discipline, habit, time and diversification. Whether your retirement is decades away or just around the corner, choices and decisions you make today can potentially lead to a brighter future.
It’s never too late to get started. No matter your age, we’ll help you select the best portfolio for your retirement needs.
The Rule of 72: Divide 72 by a given interest rate to determine the number of years it will take to double your investment. (72 ÷ 8% interest = 9 years to double your money)
Annuities, Investments and Mutual Funds
Farah Financial Group provides the most current Annuities and Mutual Funds available, including Fixed, Indexed or Variable Annuities.
We also offer Variable Annuities with a guaranteed principle option that allows you to invest without the risk of ever losing your initial investment.
There are more than 500 options in Mutual Funds, from the oldest (MFS) to the largest (Fidelity) Mutual Fund families in America. |
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Why is the Rule of 72 important?
Can Farah Financial Group help me to obtain guaranteed retirement income? |
Retirement Strategies
It is often said that a prescription without diagnosis is malpractice. With that in mind, our first step is to meet with you to learn all we can about your financial aspirations.
Our main objective is to give you—the individual or independent business owner—investment growth, control and potential tax advantages, including creative ways for businesses to reduce tax obligations.
Farah Financial Group’s Registered Representatives will obtain vital information with a thorough needs analysis, and then personally design and tailor a solution with your retirement goals in mind. |
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Am I too old to start saving for retirement? |
College Funding
College costs are rising faster than the rate of inflation, so getting an early start to maximize time and tax deferral is vital.
College 529 plans are very popular and allow for significantly larger deposits than an educational IRA. The 529 plan is also transferable to any family member and does not restrict you to state or regional colleges. 529 monies are tax free if used exclusively for higher education and related expenses.
Prepaid college plans are a good option that provides a hedge against inflation on future college costs. It is important to note that the prepaid college plan covers tuition costs only, which usually accounts for about 25% of total college expenses.
The 529 plan can be tailored in conjunction with the prepaid college plan, if desired. |
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How can I start saving now for my child’s college education? |
Individual Retirement Accounts (IRA) and 401(k) Plans
Individual Retirement Accounts, or IRA’s, are the mainstay in retirement strategy. We offer traditional IRA’s, as well as the popular Roth IRA’s. Whether you are looking for a tax deduction now or later, we can help.
We also offer Simple IRA’s for business owners and their employees. Simplified Employer Plans (SEP) are also advantageous for the independent business owner because they allow more flexibility and larger contributions than an IRA.
401(k) plans can be implemented and administered through our Professional Alliance with a trusted Third Party Administrator, and can be arranged for companies of all sizes.
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Important Disclosures
Equity-Index Annuities Disclosure
Index annuities are insurance contracts that, depending on the contract, may offer a guaranteed
annual interest rate and some participation growth, in any, of stock market index. Such contacts
have substantial variation in terms, costs of guarantees and features any may cap participation or
returns in significant ways. Any guarantees offered are backed by the financial strength of the
insurance company, not an outside entity. Investors are cautioned to carefully review an index
annuity for its features, costs, risks, and how the variables are calculated.
Mutual Fund Disclosure
Investors should consider the investment objectives, risks and charges and expenses of the fund
carefully before investing. The prospectus contains this and other information about the funds.
Contact Mike Farah at Farah Financial Group, 10250 Normandy Avenue, Suite 601,
Jacksonville, FL 32221, (904) 908-5544 to obtain a prospectus which should be read carefully
before investing or sending money.
Variable Annuities/Policies Disclosure
There is a surrender charge imposed generally during the first 5 to 7 years that you own the
contact. Withdrawals prior to age 59 ½ may result in a 10% IRS tax penalty, in addition to any
ordinary income tax. The guarantee of the annuity is backed by the financial strength of the
underlying insurance company. Investment sub-account value will fluctuate with changes in
market conditions.
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How do I start planning for my retirement?
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