Services

With Elite Hathaway we help you create a financial legacy not just for your future but also the generations forward. We look at areas where you're already spending money, your budget, retirement and saving plans and offer you better plans that are superior for you and your family in every way shape and form. We have a in house Design team which is a combination of over 200 years of experience and

If you're asking yourself questions like…

Will I ever be able to retire ?
How can I make the most out of my future ?
Do I have the right type of insurance my family ?
What I'm I covered for in case of emergencies ?
I'm I saving enough ?
What is the best way to save for collage?

Elite Hathaway has the answers and strategies that will help you maximize a solid financial plan for your future.

Here are just a few of the area we focus on…

IridiumSoft
INDEX FUNDS

We understand why you're buying index funds—you want an investment that performs as closely to its benchmark as possible. Over time we seek to minimize tracking error—also known as the amount an index fund's performance deviates from its target index. Whether it's through solid trading techniques for funds that completely replicate an index or our use of statistical sampling and optimization techn
FIXED ANNUITIES
Your purchase payments earn a guaranteed interest rate for a set period of time. At the end of the period a new fixed rate becomes effective, based on current interest rates.

Earnings are not taxed until withdrawn (For tax purposes, earnings are withdrawn first. In addition, withdrawals during the first six years of your contract may be subject to a withdrawal charge of 6%, 6%, 5%, 5%, 4%, 2%, respectively. Withdrawals of taxable amounts will be subject to income tax, and prior to age 59 1/2, a 10% federal income tax penalty may apply).You also have a choice of payout options, including a lifetime incom
TERM LIFE
Term life insurance is the most straightforward form of protection. You generally pay premiums on a monthly or annual basis and your family is protected for that "term. We offer a variety of affordable term life insurance products to fit your needs, time frame, and budget.

-Help provide for a family's loss of income
-Cover short-term debts and needs
-Provide additional insurance protection during the child-raising years
-Provide longer term protection to help your family pay off a mortgage or to help pay for a college education

Product Benefits:

Life insurance enables individuals and families of all income brackets and lifestyles to maintain financial independence in the face of financial hardships. Coverage is just as important for two-income families as it is for single-income families. Stay-at-home parents also need protection to help cover the costs of services they routinely provide, such as cooking, cleaning, and caring for children. Retirees who are living on limited income also find peace of mind knowing that an aging spouse will not be faced with a financial burden after their death.

Protects American families by providing benefits to survivors when a primary wage earner dies.

Businesses use life insurance to protect against financial uncertainty and secure employees’ futures.

Businesses use life insurance on key employees to create a secure funding source to pay for important employee and retirement benefits.

Businesses use life insurance to protect jobs and families from financial hardships that can result from the death of an owner or key employee.

The money from a life insurance policy can be used to help families to cover expenses such as mortgage payments, tuition, or sending children to college. Often the benefits from a life insurance policy can keep a family from poverty and welfare.

TYPES OF INSURANCE

Term Life Insurance

Term Life Insurance covers a defined period (one to thirty years) and only pays benefits if you die during the defined period of time. Depending on the terms of the policy, premiums will remain constant or increase each year. Some policies can be renewed at the end of the term, but premium rates will usually increase. Term insurance does not offer cash value buildup and it becomes more difficult to attain coverage as you get older.


Typical Use: Term insurance is designed to cover needs that will disappear in time, such as mortgage or tuition payments. Initially, premiums for term insurance are lower than for permanent insurance, which enables you to buy higher levels of coverage at a younger age.


Variable Insurance

Variable Insurance are a type of life policy where you can choose from among a variety of investments offering different risks and rewards. Stocks, bonds, combination accounts, and options that guarantee principal and interest are typical choices. Death benefits and cash value will vary depending on the performance of the investments you select. By law, you'll be given a prospectus for variable life insurance because it is regulated as a security. This prospectus will include financial statements and outline investment objectives, operating expenses, and risks.

Typical Use: Often used to obtain permanent protection with potential for high growth.


Whole Life Insurance

Whole Life Insurance is the traditional type of permanent life insurance. Generally, the premiums remain constant over the life of the policy.


A policy accumulates a cash value, which can be borrowed against, surrendered for cash, or converted to an annuity. The cash value grows based on a fixed interest rate. The cash value is different from the policy's face amount. The face amount is the money that will be paid to your beneficiary. Cash value is an amount that increases over time tax-deferred. The cash value can be used to cover premium payments, to purchase additional insurance, or as collateral for a loan. Loans must be paid back with interest or the death benefit paid to the beneficiary will be reduced. The policy also can be canceled or surrendered for its cash value. You may owe taxes on some of the cash value if the sum exceeds what you have paid in premiums. Finally, whole life typically requires higher premiums than term insurance.

Typical Use: Whole life is often used to obtain lifetime protection (assuming paid premiums) along with cash value accumulation.


Indexed Universal Life Insurance

Indexed Universal Life Insurance policies are a type of universal life insurance. These types of policies are similar to traditional whole life policies because they build up cash value over time and provide lifelong protection as long as you pay the premiums. The death benefit can be increased (subject to insurability), or decreased at the policy owner's request. Premiums can be flexible and paid periodically to meet your personal financial needs.


Along with providing a death benefit if you die, certain indexed universal life products also provide tax-deferred growth of your account value, growth linked to a formula based on changes in an equity-index, flexible premium options, a variety of riders and waivers, and two death benefit options.

Typical Use: A balanced approach to life insurance.

ADVANTAGES AND DISADVANTAGES OF DIFFERENT TYPES OF LIFE INSURANCE

TERM WHOLE LIFE - VARIABLE INDEX UNIVERSAL

Advantages:

  • When you’re young premiums are generally lower than those for cash value insurance.
  • Premium can be fixed or flexible to meet individual financial needs.
  • Higher growth potential than other types of life insurance products.

Disadvantages:

  • Premiums increase as you grow older and you health status changes.
  • Policies don’t usually build up a cash value.
  • Cancelling a policy after only a few years can be expensive.
  • The cash value of a variable life policy is not guaranteed.
  • If the market doesn’t perform well, the cash value and death benefit may decrease, and possibly lapse.
  • Subject to maximum crediting caps.

What are 401k and IRAs?

A 401k plan is an employer-sponsored retirement plan that allows you to save money for retirement while deferring income taxes on the savings until the time of withdrawal. Investments typically consist of mutual funds focusing on stocks (possibly including your company's stock), bonds, and money market funds or stable value investments.


An Individual Retirement Account (IRA) also allows you to save money for retirement in a tax advantaged way. An IRA is similar to a 401k, but an IRA can be set up without the help of an employer.

What Is a Rollover?

Depending on your circumstances, you may be able to take the money from your existing 401k or IRA account and transfer it into a different vehicle without suffering immediate tax consequences. Annuities funded with an IRA or 401(k) rollover are qualified plans, enabling an insurance company to create an IRA annuity into which you can deposit your retirement funds directly. Additionally, you can have your employer roll over your 401(k) funds into an annuity without withholding any taxes since no mandatory withholding requirements pertain to funds directly transferred into an annuity by an employer.

What Is the Purpose of a Rollover?

Rolling your 401k or IRA into an annuity gives you a continued tax shelter, while permitting you a huge range of index options, guarantee of principle options, and living and death benefits that can protect you and/or your family whether the stock and bond markets go up or down.

Please Note: The information provided here is for informational purposes only and is a summary of our understanding of the current tax laws and regulations as they relate to insurance, annuities, and qualified plans. The information provided is not intended to be used for purposes of avoiding penalties imposed under the United States Internal Revenue Code. You should consult with your own attorney, accountant, or tax advisor for legal, tax, or accounting advice.

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