Whether the purpose is income replacement, creating an estate, paying estate taxes, funding a business transfer, a charitable gift or any other purpose, the right kind of coverage is essential in meeting your goals.

The Hartfield Company has access to a variety of carriers and a full range of insurance products, allowing us to create solutions for your specific life insurance needs.  Our solutions include:

• Assessing your current situation and current coverage.
• Specifying your goals.
• Uncovering any problems or issues.
• Matching you with the appropriate coverage for your situation.
• Implementing your new coverage.

In addition to the common Life Insurance products such as Variable Life, Universal Life, Term Life, and Level Term, The Hartfield Company also has the knowledge and expertise to offer the following alternative  products and services:

Estate Planning Instruments

• Life Settlement:  In the past, there used to be two options when a senior had a life insurance policy that was no longer needed.  The policy holder could either let the life insurance policy lapse or cash in the policy.  Today, seniors have another option, and that is to sell their current life insurance policy to a financial institution that is willing to pay more for the policy in the secondary market than the original insurance company will allow for a cash-in.  In addition to helping our client's with the sale, The Hartfield Company can also assist in investing the settlement proceeds into other wealth accumulating products.

  Investors should consult with their own professional advisor regarding the potential tax, estate, and legal considerations that may arise in connection with entering into a life settlements transaction. Proceeds from a life settlement transaction may be taxable under federal or state law to the extent the proceeds exceed the cost basis. The proceeds from a life settlement transaction may be subject to claims of creditors. The receipt of proceeds from a life settlement transaction may adversely impact eligibility for government benefits and entitlements. The amount received for the sale of the Policy may be impacted by the circumstances of the particular purchaser of the Policy, the insured’s life expectancy, future premiums, the death benefit, the terms of the Policy, and the current market for insurance policies, among other factors. The amount received for the sale of the Policy may be more or less than what others might receive for the sale of a similar policy. There may be high fees associated with the sell of a Life settlement.

• Second-to-Die or Survivorship life insurance:  The uniqueness of this type of plan is that while insuring two or more people, the death benefit is not realized until the last of the two or more individuals dies.  This plan is specifically designed for estate planning and is the most cost effective means of paying estate taxes.

• Guaranteed Death Benefit:  This type of plan, based upon annuities, gives the policy holder peace of mind by  guaranteeing that his or her beneficiary will be protected from down markets and decreases in the account value at the time of the policy holder's death.

  All guarantees are based on the financial strength and claims paying ability of the issuing insurance company, who is solely responsible for all obligations under its policies.

Business Planning Instruments

• Key Man:  The Hartfield Company will assist in determining if your business is adequately protected in the event of an untimely death or disability of a top salesperson, executive or business owner.

• Buy & Sell Agreements:  A plan that provides for a predetermined method of selling a deceased owner's interest in the business to the surviving owners.  Buy-sell agreements are also used to restrict attempted disposition of stock by stockholders during their lifetime by sale or gift.  Such agreements are funded by life insurance on the lives of the owners.
  
• Split Dollar: Employer sponsored life insurance program. 

The Hartfield Company has the expertise to advise and suggest the best course of action when it comes to estate or business planning.