Vivek
Babtiwale
( Veeveck Bob-Tee-Wall-Lay )
505 North Brand Blvd. Ste. 850
Glendale, CA 91203
or
1443 E. Washington Blvd #206 Pasadena, CA 91104
Phone (818) 551-6600 x 247
Fax (818) 551-6615
Cell (909) 263-8001
babtiwale_vivek@nlvmail.com
Vivek Babtiwale is insurance
licensed in California
CA
Insurance Agent License Number 0H68466
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| Hi,
my name is Vivek Babtiwale ( Veeveck Bob-Tee-Wall-Lay). I am the
Director of Strategic Planning
with South Western Financial Network in Glendale, CA.
StrategyTuneUp.com is my personal website, and it’s designed to make it
easier for my clients to find my contact information directly. I have
an understanding of Tax-Free Retirement* strategies, Section 79 plans,
Key Person Insurance, Term Insurance, Permanent Insurance such as Whole
Life, Universal Life and Indexed Universal Life, Fixed Annuities,
Indexed Annuities, as well as Business Overhead Expense, Disability
Insurance, and Health Insurance.
I
earned my Bachelor of
Science degree in Electrical Engineering from Cal Poly Pomona
and
prior to becoming a financial services professional, I worked at
JPL-NASA for 8 years. Having a technical background has enabled me to
help individuals and businesses from a variety of perspectives. On a
personal note, I have experience from years of planning for my own
financial future, and I have also analyzed businesses for cash
flow**. Although I assist clients all over Southern
California as
well as out of state, I serve many clients particularly in the
following cities: Diamond Bar, Brea, Upland, Monrovia, Pomona,
Glendora, Chino, Chino Hills, Rancho Cucamonga, Pasadena, Altadena, La
Canada, San Marino and Arcadia. |
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Life
Insurance with LIVING BENEFITS*** |
| TERM
Life INSURANCE |
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What
are Living Benefits? What are Accelerated Death Benefits? Many life
insurance policies offer optional riders called Accelerated Benefit
Riders (ABR), that are also known in the industry as living benefits.
They allow the policy owner to "accelerate" the death benefit, meaning
they can access some of the death benefit of the policy while they are
living, in the event of a qualifying illness.
Coverage may exist
for terminal, chronic (meaning that the insured is unable to perform
some of the following: bathing, continence, dressing, eating,
toileting and transferring without assistance or cognitive impairment
CONTINUE
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| What
is Term Life Insurance? Term insurance is life insurance purchased for
a specific length of time, or 'term',that pays a death benefit to the
beneficiaries if the insured dies while the contract is in force. Term
policies offer only death benefit coverage with no cash value
component. For the defined length of time, term policies cost less than
permanent policies. Some term policies can be converted to
permanent policies without a medical examination, which allows people
whose health deteriorates after purchasing the term life insurance
policy to qualify for the rates available at their original health
status. |
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WHOLE LIFE |
| INDEXED
UNIVERSAL LIFE |
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What is Whole Life? Whole
Life insurance offers guaranteed premiums that will not increase or
decrease, a guaranteed death benefit, plus the guarantee of building
cash value within a life insurance policy. Guarantees are dependent
on the claims-paying ability of the insurer. With Whole Life insurance,
current income taxes on the increase of the cash value within
the
policy are deferred. |
| What
is Indexed Universal Life? Indexed Universal Live ( IUL ) is a type of
Universal Life Insurance, with a different method of crediting interest
than fixed Universal Life Insurance. As with most universal life
policies, an IUL provides more flexibility than whole life insurance,
which may allow monthly premium amounts to be changed or skipped and
death benefits to be changed.
CONTINUE
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TAX-FREE
RETIREMENT STRATEGY* |
| SECTION
79 PLANS |
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What
is the Tax-Free Retirement Strategy? This involves using accumulation
vehicles that have the potential to be accessed without Federal income
tax in retirement. One possible solution is permanent life insurance.
The primary purposes for purchasing permanent life insurance is for the
death benefit protection that it provides. However, permanent life
insurance offers the ability to build up tax-deferred cash value that
can be accessed during your lifetime to generate a stream of retirement
income – potentially income tax-free - using policy loans and
withdrawals. CONTINUE
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| What
is a Section 79 plan? A Section 79 plan is a group term life
insurance plan that allows an employer to provide free life insurance
to his employees. The plan also allows the employer to include
permanent life insurance as an option. The premiums are tax deductible
to the business and if permanent life insurance is used, the employee
can use it not only for its death benefit, but also can use the cash
value to accumulate money on a tax-deferred basis. |
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ANNUITIES |
| DISABILITY
INSURANCE |
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An
annuity is a financial product that allows a contract holder to
accumulate money on a tax-deferred basis and receive a series of
payments at regular intervals. People purchase annuities to obtain an
income or to supplement retirement income they will receive from Social
Security, pension benefits, investments and other sources. There are
many different types of annuity contracts.
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| What
is disability insurance? Disability insurance protects the owner of the
policy in case he or she is afflicted with a qualified illness or
accident and is unable to work. According to the National
Safety
Council, in 2008, a disability occured once every second in the United
States. The
type of occupation, income, age, and health history are some of the
determining factors in the cost of disability insurance. |
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*The
use of cash value life insurance to provide a tax-free resource for
retirement assumes that there is first a need for the death
benefit protection. Policy loans and withdrawals reduce the
policy’s cash value and death benefit and may result in a taxable
event. Withdrawals up to the basis paid into the contract and loans
thereafter will not create an immediate taxable event, but substantial
tax ramifications could result upon contract lapse or surrender.
Surrender charges may reduce the policy's cash value in early years. |
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**I
do not offer tax or legal advice. For advice concerning your own
situation, please consult with your appropriate professional advisor. |
| ***Payment of Accelerated Benefits will reduce the Cash Value and Death Benefit otherwise payable under the policy. Receipt of Accelerated Benefits may be a taxable event and may affect your eligibility for public assistance programs. Please consult your personal tax advisor to determine the tax status of any benefits paid under this rider and with social service agencies concerning
how receipt of such a payment will affect you. Riders are supplemental
benefits that can be added to a life insurance policy and are not
suitable unless you also have a need for life insurance. Riders are
optional, may require additional premium and may not be available in
all states or on all products. This is not a solicitation of any
specific insurance policy. |
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