This is the simplest form of life insurance. You buy coverage for a specific price for a specified period. If you die during that time, your beneficiary receives the value of the policy. There is no investment component.
Whole life is like term life, but you buy the policy to cover your “whole life” not just a set period. Premiums remain level throughout the life of the policy, and the company invests at least a portion of your premiums. Some firms share investment proceeds with policyholders in the form of a dividend. Many companies will offer “a relatively low guaranteed rate of return,” but in reality, they pay at a rate in excess of the guarantee.
You decide how much you want to put in over and above a minimum premium. The company chooses the investment vehicle, which is generally restricted to bonds and mortgages. The investment and the returns go into a cash-value account, which you can use against premiums or allow to build.
An individual or family health insurance plan covers one person, or a family, on one plan.
While an individual or family health insurance policy may cost more than a group policy it is better than not having health insurance coverage at all. An unexpected illness or serious injury can ruin a family financially if they do not have some basic coverage.
Most insurance companies offer the same types of managed healthcare plans to individuals that are offered to groups: HMO’s (Healthcare Maintenance Organizations), PPO’s (Preferred Provider Organizations) and POS’s (Point of Service Plan), and generally offer different levels of deductible to keep premiums within budget. Each person or family must determine what coverage, premium, deductible and out-of-pocket expense will best suit their needs and their family budget. We are here to assist you in finding a plan that protects your family while staying within your budget. Please contact us today to help evaluate your health insurance options.
Dental insurance is equally important to health insurance.
Being protected by a dental plan and using it wisely are necessary safeguards for your entire family. Unlike medical ailments, which are usually unpredictable, most dental problems are preventable. Checkups and cleanings are the way to keep teeth healthy. With regular preventing care, problems are diagnosed in time and can be treated with less expense to both, insurer and insured, keeping the costs of dental care much lower than medical care.
Generally, a local dentist provides dental care, even though sometimes the services of a specialist are required. Dental benefits plans can be categorized by the options offered for selecting a dentist. Some plans allow you the freedom to choose your own dentist, while others, in exchange for lower rates, limit your choice. Today’s health insurance, including your dental plan, is designed to help you get the care you need at a reasonable cost.
Because each person’s oral health is different, costs can vary widely. To control dental treatment costs, most plans will limit the amount of care you can receive each year. This is done by placing a dollar “cap” or limit on the amount of benefits you can receive, or by restricting the number or type of services that are covered.
As each individual and family have different circumstances please contact us today to evaluate your dental insurance needs and we will work to find the plan the best fits your needs and budget.
When a physical injury keeps you from working, disability insurance can help get the bills paid.
There are many kinds of disability policies and options, however, the basics are simple.
man on crutches
There are other coverage options, as well as a variety of other riders. The most important is a rider that pays if you can only remain or return to work part-time. The Social Security offset rider guarantees that if you qualify for disability payments under your insurance policy but not for Social Security (a frequent occurrence) your disability policy will pay what Social Security should have.
Another important option is the additional purchase option, which guarantees you the right to buy additional disability insurance in the future regardless of your health at that time.
If you have any questions about Disability Insurance or not sure if you need coverage please contact us for a needs assessment.
Long term care is something you may need if you can no longer perform everyday tasks by yourself. For example, there may come a time when you need help getting dressed, eating or bathing. It also includes the kind of care you would need if you had a severe cognitive impairment like Alzheimer’s disease. You can receive this care in a variety of settings, including your home, an assisted living facility or a nursing home.