Health Insurance - PPO/Individual & Family/Group/Medicare Supplements
Life Insurance - Term/Guaranteed UL/Index/Whole/Variable*/ILIT
Disability Insurance - Own Occupation/Non-Cancellable/Individual/Group/Supplemental
Long Term Care Insurance - Home Health Care/Assisted Living/Nursing Home
Retirement Planning - Annuities/Mutual Funds*/IRA/Roth IRA/401(k)/Direct Rollovers
College Savings Plan 529* - Tax-Free Withdrawals for Tuition/Room & Board/Books
Estate Planning - Minimize Estate Taxes/Wealth Transfer/Charitable Giving

PPO - Individual & Family - Group - Medicare Supplements
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.
The Patient Protection and Affordable Care Act 2010 (Obamacare) mandate requires everyone to have minimal essential coverage or face fines. If you don't have coverage in 2016, you'll pay the higher of these two amounts:

  • 2.5% of your yearly household income.
  • $695 per person for the year ($347.50 per child under 18). The maximum penalty per family using this method is $2085.

If your income falls below the threshold set by Obamacare, then you may qualify for a subsidy to help pay for your health insurance. If this is the case, please contact us and we can assist you with the process.

Quote and Purchase by clicking on the logos below.
2016 Open Enrollment Nov. 1st 2015 - Jan. 31st 2016

Term - Guaranteed UL - Index - Whole - Variable* - ILIT
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.

» How Much Life Insurance Do I Need?
» Get a Quote

Own Occupation - Non-Cancellable - Individual - Group - Supplemental
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 15 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.

» Get a Quote

Home Health Care - Assisted Living - Nursing Home
LTC insurance is specifically designed to help cover the costs of care associated with a chronic illness. The average cost of LTC without insurance can exceed $60,000 annually and is continuing to rise each year. 2011 begins a new era where baby boomers are turning 65 and retiring. 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.

» Get a Quote

Annuities - Mutual Funds* - IRA - Roth IRA - 401(k) - Direct Rollovers
Blue Ocean Financial specializes in evaluating our client's retirement plans with the most sophisticated software available today. Once a thorough analysis and financial review has been completed, Blue Ocean Financial will provide a plan to insure each individual client is on track to meet their retirement goals. Some of the products we offer to help individuals save for retirement are the 401(k) Rollover, Traditional IRA, Roth IRA, mutual funds*, annuities, and cash value life insurance. For Companies looking to provide a corporate retirement plan, we offer the Simple IRA, SEP IRA, and 401(k). Blue Ocean Financial also offers deferred compensation, pension and profit sharing plans, which can be customized to fit the specific needs of the corporate client.

Retirement planning is more important today than ever before in America. It is estimated by 2017, Social Security is expected to start paying out more in benefits than it collects in payroll taxes. The days of a company funded pension are long gone. Hence, it is incumbent upon each citizen to save for their own retirement if they desire financial security in their future. Utilizing compounded interest and saving over the long term, in a diversified portfolio will generally yield the best results. BFS will consult with your CPA and design a custom plan specific to your retirement needs. Retirement planning is a process that evolves with the client and whatever stage you are in, we can help you.

Our knowledge and experience will help you navigate the investment and financial world in order to make your goals a reality. If you are a retiring Baby Boomer, BFS can help you protect your nest egg against market fluctuations and inflation, insuring you have sufficient lifetime income to meet your individual needs. Please contact us for a free retirement analysis today.

» Retirement Calculator
» For more information, please contact us

Tax-Free Withdrawals for Tuition - Room & Board - Books
A college education is 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. According to the U.S. Census Bureau, college graduates earn an average of $1 million more than high school graduates during their careers. Of course with anything worthwhile there is a cost. The average annual tuition for public higher education for 2010 was roughly $7,000. The cost for private college was $26,000. Tuition does not include room, board, books, transportation, living expenses, etc.

» Check Tuition Costs

BFS offers 529* plans which are tax advantaged college savings plans. 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*'s are tax-deferred growth, tax-free qualified withdrawals and gift tax incentives. The account tax-free withdrawals may be used to help pay for expenses including; tuition, room & board, books and other fees related to higher education. Prudent planning includes consideration of state pre-paid plans, grants and scholarships.

Blue Ocean Financial understands the importance of a college education and can tailor a 529* plan to fit your needs. Our goal is to help families save to educate America's future.

» For more information, please contact us

Minimize Estate Taxes - Wealth Transfer - Charitable Giving
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. On Jan. 1, 2011, the estate tax returned. According to a new law enacted in December 2010, estates valued at $5 million or less are exempt from the tax. Estates worth more than $5 million are taxed at a 35 percent rate. Blue Ocean Financial offers life insurance policies specially designed to pay the estate tax and these types of polices 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

» For more information, please contact us

*Securities offered by Chris Milgroom, Registered Representative of LifeMark Securities Corp
Member FINRA/SIPC • 2451 McMullen Booth Rd., Clearwater, FL 33759 • Ph 888 847-1219
Blue Ocean Financial Services, Inc. is not affiliated with LifeMark Securities Corp.

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