Insurance Services
Personal insurance
When selecting a life insurance policy to protect your family and future, there are many variables including types of plans and companies offering them. Not all life insurance policies and companies are the same, some policies cover Living Benefits, Return of Premium, Long-Term Care and Conversions Options, each of these are important considerations when selecting a policy.
Life Insurance is a powerful instrument, it can protect your family from ruin and build your assets for future generations to come. It can be the difference between a life of struggle or comfort. This only happens when you take the time to select the products that will best fit your family’s needs.
There are three major types of Life Insurance, each have a specific purpose. We can help you determine what is the best policy for you.
Business Insurance
Life Insurance plans for businesses can be the difference between a company folding or thriving. A couple of examples of how life insurance protects a business:
- Partnership Plans or Buy-Sell Agreements: This plan allow the partners to buy out a partner’s interests when a partner passes. Without this type of plan, each partner would have to use their own resources to fund the purchase of a partner’s interest.
- Key Person Plans: How vital is a person to your company? What would happen if a key person passed tomorrow? Could your company survive? Keyman Insurance ensures the life of key individuals who are vital for your companies’ survival. This policy provides funds to replace and or keep the company moving forward despite the loss of an important person.
- Bonus Plans: What keeps an individual motivated to stay with your company? Competitive salaries, benefits and security are important metrics used by employees to stay with your company’s vision. Executive Life Insurance plans allow you to provide security to employees, these benefits include retirement, long-term care insurance and critical illness such as heart attack, stroke, cancer and disability.
Retirement insurance
Life Insurance is used for a variety of purposes in the retirement years. A couple of examples of how it can provide a better retirement are as follows.
- Estate Preservation: You have spent a lifetime building your estate, this includes your savings, home, 401K’s and other assets. In your retirement there are numerous events that can destroy a lifetime of hard work. These events include medical issues, taxes, life expenses and retirement shortfalls. When there are two of you, what effects one effects the other. Life Insurance can protect against all these issues, not all life insurance policies are the same, so it’s important to be selective when deciding. We can review all options with you.
- Long-Term Care Expenses: One of the events most people are not prepared for is the potential cost of Long-Term Care, what happens if you or spouse can’t get out of bed? If the issue is chronic, it can be a devastating expense, your life savings, and assets could be drained away in a couple of years. There are life insurance plans, which include Chronic Care coverage, which cover Long Term Care expenses.
- Final Expenses: The final expenses in your life can vary between $5000 to $25,000 dollars, usually these expenses come at a time when you can least afford them. A final expense plan takes makes sure the money is there and will not drain other assets.
