Life Insurance is one of the most important things you can purchase, even if you are single. Although you don’t have to plan for a surviving spouse or child, the burden of your funeral costs and burial might fall on your family. By having a solid life insurance plan, you will be making it a lot easier on your loved ones. The average funeral costs between $7000 and $10,000. Other than high costs of funerals there are several other reasons you should have life insurance as a single person.
There are many competitive options out there to explore for your Health Care Needs. Finding the right solution for you isn’t just about price, it can also be about what different plans offer and what your exact needs are.
We can compare prices, look at your budget and help you find the right Health Care Plan for you. More and more competitively priced options are presenting themselves daily and being in the “know” is what is important. Our trusted advisors are looking at these trends all of the time and can help you find the most competitive plan for you.
We look forward to helping you and want what’s best for you. Let’s chat about all of your options and go over all of your needs. Sometimes a simple phone call can make all the difference in the world.
Key person insurance, also formerly called key man insurance, is an important form of business insurance. There is no legal definition for “key person insurance”. In general, it can be described as an insurance policy taken out by a business to compensate that business for financial losses that would arise from the death or extended incapacity of the member of the business specified on the policy. The policy’s term does not extend beyond the period of the key person’s usefulness to the business. The aim is to compensate the business for losses and facilitate business continuity. Key person insurance does not indemnify the actual losses incurred but compensates with a fixed monetary sum as specified on the insurance policy.
An employer may take out a key person insurance policy on the life or health of any employee whose knowledge, work, or overall contribution is considered uniquely valuable to the company. The employer does this to offset the costs (such as hiring temporary help or recruiting a successor) and losses (such as a decreased ability to transact business until successors are trained) which the employer is likely to suffer in the event of the loss of a key person.
Rates have never been lower to purchase the insurance that you need. Insurance used to be considered a luxury but with our increasing debt loads as consumers, it is now considered a necessity. In other words, if someone depends of you financially,you probably need to purchase life insurance. Because of this awareness, prior to 2009, the booming stock market and growing Internet competition led to a nearly 70% drop in term life insurance rates from the early 1990s. Another factor:People were simply living longer, and insurers were having to pay out fewer benefits as a result. If you live through the length of your policy, the policy expires and the insurance company keeps the premiums.
You may already have some life insurance, but is it enough? Think about the cash and income needs your family will have if you die prematurely. Which of these are concers to you and your family?
Who Needs Life insurance?
When it comes to long term care or long term health insurance, most people think that Medicaid will come to the rescue and pay for all the necessities if the need should arise for long term care. Sadly, most people do not plan for an extended illness or any type of long term care.
A stay in a nursing home or facility can cost on the average of $4,000 dollars a month or over $50,000 a year. Medicaid will sometimes not cover these types of expenses depending on your individual situation. Most health care insurances do not cover these types of expenses even if you think you are covered. It’s time to talk to someone about your financial future in the event of an illness or should you need extended care.
There are many affordable plans that can help. We can look at your situation and offer advice on what may be the best long term care plan for your needs.
We live longer than we did 30 or 40 years ago. Yet, we still fail to plan for these types of long term care assistance situations, should they arise. It’s time right now to set a plan in motion and make [
There are many different kinds of life insurance. Which kind of policy you should buy depends upon:
Permanent Life Insurance
Permanent life insurance provides coverage for an insured’s lifetime. It generates cash values that accumulates tax-deferred, and which can be borrowed against to cover college expense or to supplement income.
• Whole Life
– Provides a level death benefit, generally at a level premium. There are a variety of whole life policies, including those with limited, single or step-rated premium-paying durations.
• Universal Life
– Provides an adjustable death benefit. Cash values are based on the company’s current interest earnings and premiums are flexible so long as there is sufficient cash value to cover all policy charges and expense each year.
• Survivorship Life
– Provides coverage for two people, usually spouses, under one contract. The death is paid to the named beneficiary at the second death. Premiums are based on the age and rating of each insured.
Have you noticed a difference in the people around you lately? All across this great country of ours some very wonderful things are happening.
People are spending more time with their families – reevaluating their priorities. Some have become more appreciative – and aware – of the many freedoms they enjoy. Others are driving a little slower – taking time to enjoy the journey instead of just rushing to the destination. Throughout America, people are stepping back and taking a second look at what’s really important.
One result of this national introspection has been a renewed interest on the part of millions of Americans in protecting their families and loved ones. And the financial tool to which they are increasingly turning: life insurance. Life insurance is a simple, flexible, and can be an affordable way to create certainty in a world that offers few certainties. Only life insurance can help give you:
It’s that simple, and it’s that powerful.
Are you one of the millions of Americans who’s taking a second look at things – be it saving for the future, protecting the people who are important to you, or simply providing yourself and your family with a greater sense of security? If so, we’d like to help. After all, we’ve been helping people just like you for nearly a century and a half.
Term life insurance is designed for individuals with a temporary need for coverage. It pays a benefit only if you die while the policy is in force , and it offers the most initial protections for the least amount of premium. Over time, permanent insurance is more cost-effective.
There are basically 2 kinds of term life insurance policies:
For specified period of time, most term policies can be converted to permanent insurance regardless of your insurability.