Introducing BGA Premier Insurance Solutions

22 hours ago
2 min read

As business owners we all know that our businesses are only as strong as our referral network. That's why I'm always looking for referral partners for myself AND my financial planning clients.

I have known Dina Mabry, CLTC with BGA Premier Insurance Solutions, for years, and I've heard from several financial planners that she is not only helpful with finding insurance solutions for their clients...but she's also a delight to work with.

A magical combo.

So, I asked Dina a few questions about what she - and her sister, Stefanie Abbott - do and why it's so important for financial advisors to have a partner in the insurance and LTC space.

Tell us a little bit about BGA Premier Insurance Solutions

We are general agent brokers who place life, long-term care, and annuities for clients. Our clients are primarily financial advisors who need a trusted resource to partner with when their clients need insurance options. We work in all states and have all of the carriers/products.

How can insurance gaps undermine an otherwise solid financial plan?

The greatest risk to a retirement plan is longevity, namely health care costs and long-term care costs. An LTC plan offers protection for the family and its assets. Life insurance should be secured on a parent or business owner who has “dependents” that rely on them financially.

What’s the most efficient way for an advisor to offer insurance reviews without becoming the insurance department? How do you assist those advisors (and their clients)?

We can certainly help review in force polices and make recommendations. Many times, it’s just helpful to review the face amount, premium paid, beneficiaries, and if the policy will be terminating. Many clients buy polices and don’t review them for many years, which can be problematic. I recently helped a client who had an old whole life insurance policy from years ago move the cash within the policy to a paid up LTC policy. She no longer needed life insurance but wanted to have LTC protection.

How does insurance planning change for clients with growing net worth and complex financial lives?

High net worth clients should evaluate their estate planning needs, and life insurance can offset their estate taxes. LTC is also a fantastic way to preserve legacy and have tax-free money for care. A recent article from an industry leader points out that HNW individuals will likely spend even more for care, as they will expect professional home care or a facility with luxury amenities. The cost of this care can be 350k-400k per year. CLICK BELOW FOR MORE:

How do you work with advisors and their clients?

We make it easy to place insurance polices with our streamlined process. If the advisor is licensed, we will facilitate the contracting, illustrations, and application process. If the advisor is “fee only,” we will serve as their outsourced insurance arm and take the application with our insurance license. Partnering with advisors is the core of our practice.