Frequently Asked Questions

Find Your Answers Here!

CMIS concierge consulting services are extremely knowledgeable in the field of insurance and benefits. We’re happy to answer any question you have, any time. Meanwhile, read below for some of the more common questions we get from people just like you.

How much insurance do I need?

A CMIS consultant can help you decide how much insurance is right for you, based on all the factors that are relevant and important to you, whether that’s age, health, family, etc.

Who is a Beneficiary?

A beneficiary is anyone who may receive the proceeds of your policy when the conditions for issuance are met. A Life Insurance beneficiary is anyone chosen to receive funds in the event of the policy holder’s passing. With Long-term Care Insurance you are the beneficiary, receiving funds if and when you become unable to perform everyday activities and require assistance for daily living. Disability Insurance also benefits the policy holder, providing an income in times when he/she cannot return to work due to injury. There are many different types of insurances with different options for who can be a beneficiary. A CMIS consultant can help you decide which insurances fit your plan and who should receive the benefits in each circumstance.

Are there different kinds of Long-term Care Insurance?

Yes. There are three main types of Long-term Care Insurance: a Long-term Care Policy, a Fixed Annuity with Long-term Care benefits, and Life Insurance with a Long-term Care rider. Each of these is designed to suit the needs of individuals with different financial situations. CMIS consultants are knowledgeable in each of these areas so that you can make an educated choice on which LTC option is right for you.

Are there limits on Long-term Care Insurance?

That depends entirely on the type of LTC coverage you elect. There are a number of traditional and hybrid options available that can provide full benefits to make sure you are covered in the event long-term care becomes necessary.

What circumstances does my Disability Insurance cover?

Disability Insurance can cover a wide range of situations, from temporary partial disability all the way on up to permanent total disability. If you should suffer an illness or other debilitating condition, the right Disability Insurance has the ability to provide a percentage of income to you until you can return to work or not.

In which types of Voluntary Benefits can I enroll?

There are many Voluntary Benefits out there that can help improve your quality of life and financial situation. Some of the more common types are Medical, Dental, Vision, 401(k), and Life Insurance. With a whole market dedicated to helping you pick and choose which benefits are most relevant to you, a CMIS consultant can definitely help you find the right combination for the best price.

Is my 401(k) transferrable?

If done right, a 401(k) is not only transferrable, but it also remains income tax-free. CMIS consultants can guide the process quickly and clearly to ensure that your retirement benefit does not become subject to extra costs. You should be able to take your 401(k) into the future with you! That’s why we’re here.

Can I have more than one 401(k)?

There’s nothing that says you can’t have multiple 401(k)s. However, the IRS monitors contributions to 401(k)s and has limits on how much can be contributed. By consolidating your 401(k)s you can more easily monitor your account and keep control of the situation.

Are employers required to match employee contributions?

Employers do not have to match contributions. However, 401(k)s are still a good idea for people who want to save for retirement. A defined benefit or defined contribution 401(k) is important to retirees because it offers a pre-tax option for saving funds until later life, and gives you greater control over your investment.

Still Have Questions?

send us a message with the contact form below