Insurance Planning


What is Medicare Supplemental Insurance?

Medicare supplements came into being shortly after Medicare was signed into law. Because you are required to pay for some things, like 20% of outpatient expenses, supplemental policies were created to pay those expenses for you. This allows people to feel less worry over how much each medical visit will end up costing them.

Some of the primary advantages of a traditional Medicare Supplement policy are: 

  • Freedom to choose your own doctors and hospitals
  • No referrals required to see a specialist
  • Predictable out-of-pocket expenses for Medicare-covered services
  • Nationwide coverage – you can use it anywhere in the United States
  • Guaranteed renewability – the insurance company can never drop you or change your coverage due to a health condition Supplemental insurance for seniors with Medicare is the most predictable back-end coverage that you can buy. You will know exactly what’s covered for every inpatient or outpatient procedure based on which Medigap plan you choose. 

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Life Insurance

Life insurance is a contract between you and an insurance company. You make regular premium payments to the life insurance company. In exchange, the company pays a death benefit to your beneficiaries when you die.

There are basically two types of life insurance: term life and permanent life. Term life covers you for a fixed amount of time while permanent life insurance covers you until the end of your life.

Term Life Insurance provides a death benefit for a specified period of time, most commonly ranging from 10-30 year periods of time. Some carriers offer chronic illness and injury benefits with their term life insurance products. Most cost effective for younger individuals and couples in the short term making sure your family and loved ones are covered in the event life throws a curveball. In the long term, having only term insurance less effective and efficient.

Permanent Life Insurance provides a death benefit, cash accumulation and a chronic illness and injury component. As the name states, the life insurance is permanent with this type of life insurance. When a permanent life insurance policy is structured and funded properly, a function of time plus the amount funded to match your goal’s and objectives, you will have a life insurance policy that will be in place when you pass and will offer a vehicle of tax free dollars to access and used as you wish. Permanent life insurance vehicles come in a variety of flavors here are three: whole life, universal life and indexed universal life. Permanent life insurance falls under IRC Section 7702, maybe the most tax efficient section of the tax code accessible to people of all income ranges.

As a professional insurance planner, after taking a 30,000-foot view of your situation we can accomplish your goals, objectives, needs and wants with the appropriate insurance vehicle or combination of insurance vehicles set alone or within an advanced strategy accomplishing a variety of objectives, both personally and within your business. Add the power of our team approach married with being proactive and comprehensive, the level of planning available with Schwartz Financial, LLC and team will bring smiles to you, your family and all involved with your business.

Already have a life insurance policy in place? It is prudent to re-evaluate life insurance policies annually or when you experience a major life event like marriage, divorce, the birth or adoption of a child, or purchase of a major item such as a house or business.

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An annuity is a long-term financial contract that can provide you with a stream of payments later in return for an investment now. Annuities can help with retirement income, estate planning or tax deferral.

There are three main arguments for buying an annuity:

  • Retirement income: You might need more than Social Security to live on in retirement. An annuity can provide steady income so you don’t outlive your savings.
  • Estate planning: Annuities can provide income to your beneficiaries if you die, and in some cases, without going through probate.
  • Tax deferral: You don’t pay taxes on investment gains in an annuity until you withdraw the money.

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Long Term Care

Long-term care insurance can provide financial protection and peace of mind to individuals who may need assistance with daily activities, such as bathing, dressing, and eating, due to chronic illness, disability, or aging. This type of insurance can help cover the costs of long-term care services, such as home healthcare, nursing home care, and assisted living, which can be very expensive and can quickly deplete savings. By having long-term care insurance, individuals can protect their assets and maintain their independence and quality of life in the event that they require long-term care.

Already have long-term care insurance? Have you reviewed it recently? At Mid Atlantic VFO, we can review your current policies, and show you if you have places to improve. With several different carriers available, we're able to find the most affordable solution.

Retirement Planning

Life is often too busy for people to manage their everyday lives. Between taking care of the household, managing your workload and paying your bills; balancing life can be difficult. That is where we can help.  MLA Insurance Group helps you plan for the future and avoid any road blocks as you head towards retirement. We develop a strong strategy to diversify your risk, manage your asset allocation and draw up a long-term plan for your family.

Our wide range of services and risk management products help you save money and time worrying about your future.

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