Decreasing Term:
Level Premium, Decreasing Coverage, No Cash Value: Suitable for financial obligations which reduce with time; e.g., Mortgages or other amortized loans.

Annual Renewable Term:
Increasing Premium, Level Coverage, No Cash Value: Suitable for financial obligations which remain constant for a short or intermediate period; e.g., income during a minor’s dependency.

Long-term Level Premium Term:
Level Premium, Level Coverage, No Cash Value: The annual premiums are fixed for a period of time, typically 5, 10, 15 or 20 years. Suitable for financial obligations which remain constant for a short or intermediate period; e.g., income during a minor’s s dependency.

Whole Life:
Level Premium Level Coverage, Cash Values: Cash value typically increases based on insurance company’s general asset account portfolio performance. Suitable for long-term obligations; e.g., surviving spouse lifetime income needs,. estate liquidity, death taxes, funding retirement needs, etc.

Universal Life:
Level or Adjustable Premium and Coverage, Cash Values: Cash values may increase, based on the performance of certain assets held in the company’s s general account. Suitable for long-term obligations or sinking-fund needs: estate growth, estate liquidity, death taxes, funding retirement needs, etc.

Variable Life and Variable Universal Life:
Level / Adjustable Premium, Level Coverage, Cash Value: Suitable for long-term obligations and those who are more active investors and for estate growth and death tax liquidity.

Single Premium Whole Life
Entire Premium Is Paid At Purchase, Cash Values, Level Coverage: Provides protection as well as serving as an asset accumulation vehicle.

Powell-Barefoot Insurance provides insurance programs for a wide variety of businesses.

There are special programs with pricing and coverages tailored to special sectors of business such as contractors, wholesalers, metalists, retailers, offices, light manufacturing, restaurants, florists, auto repair garages, quick lube establishments, muffler shops, brake shops, and many more kinds of businesses.

A full line of coverages such as package policies, worker’s compensation, commercial vehicle coverage, and umbrella liability are available. CALL or EMAIL us to learn more about these coverages.

Medical Insurance

Illness and injury strike without warning. Who will pay the doctors, hospital, ambulance, drug store, and all of the people that care for you and your family? Even a brief hospital stay can cost thousands of dollars.

We offer Preferred Provider plans, all provider plans, and all varieties of deductibles and copay. CALL or EMAIL us for all the medical and disability plans available.

For the businessman, groups down to 2 people can obtain a program rivaling large groups. Life insurance, short and long term disability income, and all sorts of deductibles and features are available to you for your group. Call us with your census of workers, and we can design a plan for you.

MEDICARE is a complicated area for seniors. If you’re a Medicare recipient, you need a supplement from some source. The Part A deductible increases each year. Part B also carries a $100 annual deductible. You are responsible for the 20% under Part B that Medicare does not cover. We have competitive plans through several companies like that will take this worry off of your shoulders.

Disability Income

If you owned the goose that laid the golden egg, would you insure the goose or the eggs? YOU are that goose bringing home that paycheck. You insure your home, auto, collectibles, boat, but not your paycheck. Where will your money come from if you can’t work due to an illness or accident?

Disability income is one of the most important coverages for you and your family. We will give you the money to keep the house going, pay the bills, put food on the table, and allow you the time to get well without the burden of going back to work too soon. Statistics show that people with disability income insurance recover from illness and accident faster, because we give them the time that they need.

Who will take care of your family and obligations when you die? Where will your funeral expense money come from? Who will make up for your contributions to a church or charity when they stop due to your death? How will your key employee be able to buy your business from your family without financial hardship?

Life insurance is the answer to these and many other financial issues. It is still one of the best bargains in insurance. We have a wide variety of companies to choose from. If you have had health problems that may cause your qualification for insurance to be more difficult, we have the markets and experience to get you the best offer. Don’t believe that answering a questionnaire on the Internet will yield the lowest rate. The fact is, there is still no substitute for discussion by an experienced agent with you and the insurance company underwriter. We can help you decide on the right type of life insurance policy and make important financial plans for your situation.

Retirement Planning

With the uncertainty surrounding the future of Social Security, especially as it applies to the “Baby Boomer” generation, it is very important for everyone to spend some time in planning a retirement strategy.

Individuals have a choice of traditional or Roth IRA programs. The traditional plans have a deductible contribution with a taxable retirement benefit. The Roth IRA has a contribution made with after-tax dollars, but the benefits at retirement may be greater as they are not taxed. There is no universal answer on the best choice. Each must make a decision based on your circumstances. We stand ready to counsel you on the advantages and disadvantages of each plan for you.

Pension Plans for Business

Competition for qualified employees has become a major concern for companies, large and small. Benefit programs may mean the difference between hiring or keeping a good employee and losing them to the competition.

The 401K plan has become very popular for corporate retirement benefits, but it is not for every company. There are several other options that can be explored for the small business, such as the Simple IRA. Simple IRAs have the general appearance of the 401K without the high administrative costs.

CALL or EMAIL us for a free consultation on this important area. We have access to great prototype plans. We also offer a wide range of funding alternatives.

Most PERSONAL AUTO policies provide the following basic coverages:

• Bodily Injury Liability – Covers accidental injury or death of another person if caused by you in an automobile-related accident.
• Property Damage Liability – Covers accidental damage to other people’s property if caused by you or your auto in an auto accident.
• Defense Costs – Covers court costs, legal expenses and attorney’s fees, for example.
• Collision – Covers damage to your car from collision with another vehicle or object, regardless of who was at fault.
• Other Than Collision – Covers specific damage to your car that is not collision, such as fire, flood, theft, vandalism, glass breakage, falling objects, or hitting an animal.
• Personal Injury Protection (NY) – Covers Medical Expenses and Loss of Earnings for those in your car in an accident, regardless of who was at fault.
• Uninsured / Underinsured Motorist – Covers injury suffered by you, your family or anyone riding in your car against the uninsured / underinsured or hit-and-run driver. (In NY, called Uninsured Motorist / Supplemental Uninsured / Underinsured Motorist)

See the actual policy pages for what is covered by your policy. Some exceptions may apply.

Most homeowner’s policies provide coverage for your Home, the Contents of your home, and Other Structures such as a garage or shed.
The above Property are typically covered against fire and lightning, windstorm and hail, bursting of plumbing pipes, damage from falling objects, theft, damage caused by weight of ice and smoke. Often, additional coverages can be purchased.

The Homeowner’s Policy comes with Personal Liability and Medical Expenses of Others which result from injury on your premises.
Renters coverage is also available providing coverages like the Homeowners Policy without the Home or Other Structures part.

We also have special, more comprehensive insurance forspecial valuables , such as jewelry, fine arts, furs, even wine collections.
See the actual policy pages for what is covered by your policy. Some exceptions may apply.