32 Alaska Business | December 2017 www.akbizmag.com
Tracy Barbour is a former Alaskan.
an extra benefit,” Hulbert says.
Life insurance is an important part of es-
tate and retirement planning for people of all
ages. The death benefit proceeds from a life
insurance policy are generally tax free. “It’s
available to take care of medical bills, to fly
family members in to attend a funeral, and
to give peace of mind to survivors,” Hulbert
says. “It’s money that enables you to catch
your breath and reori-
ent your life.”
Hulbert says it’s es-
sential for people to plan
ahead and purchase life
insurance when they’re
young and healthy. “You
can’t always depend on
being able to get life in-
surance because your
health can change in
a heartbeat,” she says.
“It’s really important to
get life insurance when
you’re healthy to keep
your rates as low as pos-
sible. Some of my clients may only have a short-
term need for life insurance and can benefit
from purchasing term insurance for a limited
period of time. Others prefer to have long-term
insurance coverage and find whole life and
universal life coverage to be better options.”
Life insurance can also be an effective way
for individuals to pass on assets to someone
or something they care about. Hulbert says,
“How do you want to be remembered and by
whom do you want to be remembered? Life in-
surance can be a legacy for your children, com-
munity, or a favored charitable organization.”
Unfortunately, most people underesti-
mate the amount of life insurance they actu-
ally need. If they have children, for example,
they should consider their ages, whether their
spouse can work, and what it will take to
maintain their family after they die. “I suggest
that they evaluate what they think they will
need and what they want for their spouse and
children,” Hulbert says. “Do they want them
to be able to stay in the house? Do they want
to be able to provide for their kids’ education?”
In addition to life insurance, New York
Life also offers employer disability and long-
term care plans. Disability is important cov-
erage, Hulbert says, but it’s a type of insur-
ance that many people don’t have and may
not be offered by their employer. Neverthe-
less, it’s valuable protection to help replace
lost income, should an employee have an ac-
cident or suffer from a serious illness.
Extended care planning also can be a critical element in a person’s retirement plan, especially for workers who are looking to retire
sooner rather than later. “People are living
longer life spans and may face very costly
care needs in their later years,” Hulbert says.
“Some may spend their assets down and have
to go on Medicaid. That’s an unfortunate occurrence. Planning for long-term care takes a
lot of forethought, but it is an important part
of a retirement plan.” R
New York Life
Image courtesy of
New York Life
Advanced Dental Solutions Inc.
Dale Burke, DDS, and Mark Williams, DDS
4450 Cordova St., Suite 130 I Anchorage, AK 99503
Anchoragedentalsolutions.com I 907-562-1686
You; Smil;, You; Succes;, Ou; Busines;
Do you avoid smiling?
Do you often cover your mouth when smiling or laughing?
Do you lack confidence in the appearance of your teeth (smile)?
Are you tired of the ‘denture’ look?