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Featured Article

Peace of Mind for the Future

Finding the Right Fit for Your Family

Article by Rhonda Stephens

Photography by Rebecca Mitchell

Originally published in Frederick Lifestyle

Damon Ehrlich, an agent for New York Life Insurance Company, is passionate about educating others on protecting what matters most. He says, “Just as a house has a foundation, life insurance, disability insurance and long-term care insurance are foundational to financial peace of mind.”

“We have two sons. My wife and I have protection in the form of life, disability and long-term care insurance so that our sons won’t have to quit their jobs and care for us,” says Damon. “I have seen what could happen in life and what does happen when people don’t prepare for the possibilities. There are too many GoFundMe pages for people who have passed without life insurance and need help with burial costs. It’s a sad situation when the surviving spouse and kids are left without any financial support and then have to move to a much lower standard of living.”

Coming to work for New York Life following another career, Damon has found his niche.

“I enjoy speaking with and educating people in terms of protecting their assets and their families. Protecting assets is essentially protecting all they have worked for and the monies they’ve built up to secure the future for themselves and their families. In educating them, I want to make sure they know about the tax obligation which may leave them with less financially than they had anticipated,” says Damon.

“One of the best ways to protect assets is with an annuity,” Damon goes on to explain, “The strategy we use is to roll over a portion of the retirement savings into a guaranteed lifetime income annuity that leverages the gains made in the stock market. The annuity gives peace of mind knowing they will not outlive their savings because they are protected with a guaranteed income for the rest of their lives, even if they live to 110 years old.”

Reason #1

Life insurance can help pay for your children’s education and ensure that they have the future you always wished for them.

Reason #2

Life insurance can replace the income your loved ones depend on. It can continue to provide for your family when you are no longer here to do so.

Reason #3

Whole life insurance can gain value and provide supplemental income when your insurance needs decrease in retirement.

Reason #4

Life insurance protects the mortgage on the house ensuring that your family has the option to remain in the home they love.