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Retirement and long-term care planning make sense

By Paula Anderson

As we plan for the future, there are essential items that are needed to make sure our families are protected in the event of an emergency.

Sandra Q. Bailey, owner of Women Financial Power, has been working in the insurance industry for over 38 years. Since 2013, she has sustained her business through building relationships and educating clients.

WFP offers insurance, retirement planning, long-term care planning, legacy planning and policy reviews for individuals and groups.

"The average person would be surprised if they knew how executives, bankers and the wealthy use insurance. They'd want to do the same," said Bailey.

Courtesy Photo of Sandra Bailey

Her career in the insurance industry started in 1980 at The Harford Insurance Co. She later worked as a property & casualty broker for 16 years underwriting professional truckers.

In 2010, Crump Brokerage downsized leaving her the option to relocate or find another job.

She decided to pursue entrepreneurship. Her business is recognized as a locally-owned small business (LOSB) and Minority Business Enterprise (MBE) with Shelby County Government.

According to Bailey, there are two types of policies: temporary insurance (also called "term") and permanent insurance (whole life and universal life).

"I use the telephone as an example to explain life insurance. Years ago, the only thing we could do with a phone was to plug it in the wall and talk, then things shifted to placing a caller on hold. Well, today our cell phones are essential to our lifestyles. It is used for multiple purposes: camera, recording, calendar, and my other tasks." said Bailey.

Her clients primarily come from speaking engagements and vendor opportunities. She speaks at churches, businesses and women's retreats.

Stephanie Bland, client said," Sandra listens and decides on what is best for each individual based on where they are in life and needs. She does not offer a one size fits all for everyone."

"Life insurance is now essential to our life styles as well. It can be used for multiple purposes. If we live long life or become ill, funds can be taken from our life insurance policy while we are living," said Bailey.

"We can fund our child or grandchild's college education with life insurance. Of course, when we die, we still get to leave a legacy to our loved ones or charity that's income tax free! What other one vehicle can do all of that!"

To learn more about Women Financial Power products and services, visit

Paula Anderson is a journalist. To read more about her work, visit

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