Life Insurance Advice

Do you know what it takes to protect you and your family? Unsure about what type of life insurance to buy, or how much disability income insurance you need? Learn the ins-and-outs of these and other insurance products that may be available to you.

In the event of your passing, life insurance provides money directly to your beneficiaries. They can use the money for:

  • Making up for your lost income
  • Funding a child’s education
  • Paying off household debt
  • Paying for your funeral and other related expenses

Certain types of life insurance may provide benefits for you and your family while you’re still living. For example, permanent life insurance offers a cash value component, which can be put to good use during your lifetime. Let us help you evaluate your insurance needs!

 

 

 

 

 

 

Disability Insurance

If you depend on your income to pay the bills, you need to seriously consider buying disability income insurance. Disability income insurance can help you pay your bills by replacing a portion of your income. It can help you maintain your current lifestyle and help protect you and your family from going into serious debt.

Your chances of being disabled at some time during your working career are probably higher than you think. According to the Social Security Administration's Disability Benefits brochure, "Studies show that a 20-year-old worker has a 3-in-10 chance of becoming disabled before reaching retirement age" (SSA Publication No. 05-10029: www.ssa.gov/dibplan/index.htm). Of course, the chances that any one individual will be disabled before retirement depends on many factors, including age, general health, and occupation.

Long Term Care

It's hard to imagine right now, but one day you may require assistance with daily personal care. The cost of long-term care is substantial, and medical insurance and Medicare do not cover most long-term care services.  To estimate your needs, together we will create a healthcare budget starting with your current out-of-pocket healthcare expenses.  Then compare the difference based on the type of coverage you will have if you plan on retiring before you're eligible for Medicare Also, examine your family's health history as it may be an indicator of future medical needs and possible life expectancy.

We can help identify any shortfalls in coverage that can lead to potentially significant out-of-pocket expenses, so you will be better prepared for and protected from the unexpected.