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Insurance & Protection

Welcome to Centennial Financial Group, your trusted partner in safeguarding your financial future. We specialize in providing comprehensive insurance solutions tailored to meet your unique needs and circumstances. Whether you're planning for your family's security or protecting your business interests, we're here to strategize with you so you can get the perfect amount of protection.

Financial Insurance Strategies

Financial Insurance Strategies

Insurance is like a safety net. We hope to never have to use it, but it’s good to know it’s there. But if it is ever needed, the benefits can be enormous. Insurance needs can vary depending on several factors, such as your age and general health condition, how much you have in savings, your owned assets and liabilities, and what kinds of income and expenses you have. 

Developing a financial insurance strategy helps by taking all of those factors into consideration and assessing how much and which types of insurance a person needs. At Centennial Financial Group, we specialize in these strategies, and we want our clients to understand what kind of protection various insurances can provide.

Life Insurance in Johnstown, PA

Life insurance is the cornerstone of any sound financial plan. It provides financial protection and peace of mind by ensuring that your loved ones are taken care of in the event of your passing. At Centennial Financial Group, we offer customizable life insurance policies designed to fit your budget and long-term goals. Our team in Johnstown, PA, will work closely with you to determine the right coverage amount and policy type to meet your needs.

Disability Insurance in Johnstown, PA

Protecting your income is crucial, especially in the event of unexpected illness or injury. Disability insurance provides a source of income if you're unable to work due to a disabling condition. Our disability insurance plans in Johnstown, PA, offer comprehensive coverage to help replace lost income and cover essential expenses while you focus on recovery.

Long-Term Care Insurance

Long-Term Care Insurance

Planning for long-term care is an essential part of any comprehensive financial strategy. While traditional long-term care insurance may not be the best fit for everyone due to its rising costs, we offer innovative alternatives to meet your needs. 

Life Insurance with a Long-Term Care Rider

Our life insurance policies with long-term care riders provide the dual benefit of life insurance protection and long-term care coverage. With this hybrid approach, you can access the policy's face amount early to pay for long-term care needs while ensuring that your beneficiaries receive the remaining benefit if long-term care is not required.

Long-Term Care Annuity

Our long-term care annuities offer a flexible and cost-effective solution for planning your long-term care needs. By investing a lump sum of money, you can secure coverage for future care expenses while potentially growing your investment over time. If long-term care is needed, the annuity's value can double or triple, providing added financial security.

Protection Strategies for Business Owners

Key Employee Insurance

Protecting your business's most valuable assets is crucial for long-term success. Key employee insurance, also known as key person insurance, provides financial protection in the event of the loss of a key employee due to death or disability. This coverage helps mitigate the financial impact and ensures continuity in operations.

Buy-Sell Insurance

Buy-Sell Insurance

Planning for the future of your business is essential, especially when it comes to ownership transitions. Buy-sell insurance agreements, funded by life insurance, provide a financial mechanism to facilitate the smooth transfer of ownership interests in the event of an owner's death or disability.

Permanent Insurance for Deferred Compensation Plans

Using permanent life insurance to fund deferred compensation plans offers tax-efficient benefits for both employers and employees. These plans help attract and retain top talent while providing valuable retirement benefits for key executives. At Centennial Financial Group, we can advise you on how to use these plans to your best advantage.

Centennial Financial Group: Your Trusted Partner in Insurance Planning

Centennial Financial Group: Your Trusted Partner in Insurance Planning

At Centennial Financial Group, we're committed to helping individuals and businesses in Johnstown, PA, navigate the complexities of insurance planning. Whether you're seeking life, disability, or long-term care insurance, our experienced team is here to provide personalized solutions to protect what matters most to you. Contact us today to schedule a consultation and take the first step toward securing your financial future.

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About Us

We are an independent, fee-based financial planning firm with expertise in client education, retirement planning and exit planning.

About Us

Our Team

Our professional advisors thrive on a foundation of trust, authenticity and transparency that prioritizes your happiness at every life stage.

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Contact Us

Ready to work with transparent financial professionals who prioritize your best interests? Reach out to Centennial Financial Group today.

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Disclosures:

Investment risk: All investing involves risk, including the possible loss of principal. There is no assurance that any investment strategy will be successful.
Diversification: A diversified portfolio does not assure a profit or protect against loss in a declining market.
401(k): Before deciding whether to retain assets in a 401(k) or roll over to an IRA, an investor should consider various factors including, but not limited to, investment options, fees and expenses, services, withdrawal penalties, protection from creditors and legal judgments, required minimum distributions and possession of employer stock. Please view the Investor Alerts section of the FINRA website for additional information.
IRA limitation & early withdrawals: Some IRA’s have contribution limitations and tax consequences for early withdrawals. For complete details, consult your tax advisor or attorney.
Retirement Plans: Distributions from traditional IRA’s and employer sponsored retirement plans are taxed as ordinary income and, if taken prior to reaching age 59½, may be subject to an additional 10% IRS tax penalty.
Roth IRA: Converting from a traditional IRA to a Roth IRA is a taxable event. A Roth IRA offers tax free withdrawals on taxable contributions. To qualify for the tax-free and penalty-free withdrawal or earnings, a Roth IRA must be in place for at least five tax years, and the distribution must take place after age 59½ or due to death, disability, or a first time home purchase (up to a $10,000 lifetime maximum). Depending on state law, Roth IRA distributions may be subject to state taxes.

The cost and availability of life insurance depend on factors such as age, health, and the type and amount of insurance purchased. Before implementing a strategy involving life insurance, it would be prudent to make sure that you are insurable by having the policy approved. As with most financial decisions, there are expenses associated with the purchase of life insurance. Policies commonly have mortality and expense charges. In addition, if a policy is surrendered prematurely, there may be surrender charges and income tax implications.

The guarantee of the annuity is backed by the claims paying ability of the issuing insurance company.

Although it is possible to have guaranteed income for life with a fixed annuity, there is no assurance that this income will keep up with inflation. There is a surrender charge imposed generally during the first 5 to 7 years or during the rate guarantee period.