Blue Ocean Financial offers health insurance to individuals, families and businesses (4 or more employees). We also specialize in Medicare Supplement Insurance, which covers the 20%, that is not covered by Medicare Part A (Hospital) and Part B (Medical). We currently market PPO plans with the top rated carriers, which allow the insured the freedom of seeing whomever they choose without a referral.

Term life is an inexpensive alternative when purchasing life insurance. The contract between the insurance company and the insured is based on a specific period (10, 20 or 30-years). The annual premium is guaranteed to remain the same for the period you select and the coverage continues until the period expires. This type of life insurance does not build any equity and has no value at the end of the contract. BFS also markets universal life insurance (UL), which is a permanent policy that we custom design to guarantee lifetime coverage at the lowest possible cost. The policy is similar to a term policy, when minimally funded, as there is no equity built, but the coverage is guaranteed for life. In addition, UL can also be customized for cash accumulation and used for future income needs.

Cash value life insurance, another alternative, is usually designed to provide insurance for life and build equity, which can be accessed in the future for supplemental retirement income. There are many variations of this type of life insurance and Blue Ocean Financial tailors each policy specifically to meet our client's needs. This insurance is more costly then term insurance, but it can provide permanent life insurance and a cash value.

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Disability insurance (DI) protects the insured from a loss of income due to an accident or illness. The greatest asset we have is our earning potential and it is key in a sound financial plan to insure it. A good individual policy will be non-cancelable and guaranteed renewable, assuring the contract and rates cannot be changed or canceled by the insurance company. This insurance can cover up to 60% of your income to age 65, in the event of a disability. There are also riders available to protect against inflation, guarantee future benefit increases, and refund part of the premium. Rates are based on your occupation, age, health and income.

Employers that are looking for a low-cost alternative to individual disability insurance may consider group disability insurance as an option. Group disability insurance helps attract and retain quality employees and is tax deductible to the business. Please note; if the group DI plan is employer paid, the benefits are taxable to the employee. This may create the need for an individual supplemental DI policy to make up the difference. Supplemental disability insurance is a strategy that combines group DI with an individual "supplemental" plan thus maximizing personal income protection in the event of a disability. This can help the insured meet their financial obligations and focus on getting better.

BFS has over 20 years of experience marketing DI and customizing plans to meet our client's needs. Please contact us for a free DI review and let us help you protect your income.
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LTC insurance is specifically designed to help cover the costs of care associated with a chronic illness. Per Genworth's Cost of Care Survey 2019, the average cost of a nursing home in the greater West Palm Beach area can exceed $90,000 annually. LTC insurance can help protect the nest egg retirees have worked an entire lifetime to save.


Comprehensive LTC includes home health care, which provides a daily benefit to help pay for care at home. In addition, a comprehensive plan will also cover an assisted living facility or nursing home if needed. Benefits are paid when a licensed physician determines that the insured will need substantial assistance with at least two out of six activities of daily living (ADLs) for at least 90 days. ADLs include the following: eating, bathing, dressing, toileting, continence, or transferring. In addition, an insured may become eligible for benefits if the physician deems substantial supervision is needed due to Alzheimer's disease, brain injury, stroke, or other types of cognitive impairment.

The costs are based on several factors. These factors are age purchased, elimination period, daily benefit amount, inflation protection and duration of the policy. Most insurance companies offer discounted policies for spouses as well as a shared benefit. The premiums may also be tax deductible (consult your CPA). BFS markets the top carriers in the LTC business and can help you design a custom plan to meet your specific needs.

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Retirement planning is more important today than ever before in America. Long gone are the days where an individual worked for the same company for most of their career and retired with a guaranteed pension for life. In terms of Social Security, according to their own study*, if Congress does not act, the current trust fund will be depleted by 2034. Hence, it is incumbent upon each citizen to save for their own retirement if they desire financial security in their future.

Retirement planning is a process that evolves with the client, and whatever stage you are in, our knowledge and experience will help you navigate important financial decisions to help make your goals a reality. If you are a retiring baby boomer, BFS can help you protect your savings against market fluctuations and inflation. Please contact us for a complimentary retirement analysis today.

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* 2021 Annual Report of Social Security Board of Trustees

A college education may be one of the best gifts you can give your child. College is an investment for a lifetime; it will open doors to a world of opportunity. Saving for your child's college education is an investment in their future. Of course, with anything worthwhile, there is a cost. According to US News, the average annual tuition for public higher education for 2021-2022 is $10,388. The cost of a private college is $38.185. (Tuition does not include room, board, books, transportation, living expenses, etc.) *

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Congress created 529 plans in 1996 to create a simple, tax-efficient way to help families meet future college costs. The key benefits of 529 plans are tax-deferred growth, tax-free qualified withdrawals, and gift tax incentives. The account's tax-free withdrawals may be used to help pay for expenses including tuition, room and board, books, and other fees related to higher education.

Some states offer college prepaid plans that generally lock in the cost of college today, thus helping mitigate the ever rising cost of tuition.

Prudent planning should include consideration of 529 plans, state pre-paid plans, grants and scholarships.

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* US News Average College Tuition Sept. 13, 2021

Estate planning is primarily used to pass assets to heirs with minimal tax consequences, thus keeping the family fortune intact. BFS works in conjunction with our client's estate planning attorneys and CPAs to establish a plan for maximizing wealth transfer. For 2020 the individual exemption is $11.58 million, any assets above this would be subject to the estate tax. Blue Ocean Financial offers life insurance policies specially designed to pay the estate tax and these types of policies are held in an irrevocable life insurance trust, which is outside of the estate. Regardless of the size of your estate, BFS recommends you consult an attorney and discuss the following documents for basic estate planning:


Last Will & Testament:
Directs how your assets are to be divided, designates a trustee to carry out your wishes and designates a guardian for minor children.

A Living Will:
States the types of medical treatments and life-sustaining measures you want.

Health Care Surrogate:
Specifies the person who will make medical decisions on your behalf if you should become incapacitated.

Durable Power Of Attorney:
Authorizes a designated individual to handle your personal financial affairs.

Estate planning often includes charitable giving; please consider these top rated charities. Click here

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