Personal Insurance Overview
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Why Life Insurance
• Life insurance is about life, your life. It's about how you want
to live your life right now and 20 years from now. It's also
about how your loved ones will live their lives when you're
gone. Life insurance products offer tremendous flexibility and
value. In these uncertain times life insurance is a must to have
in anyone's financial toolbox. You and your family deserve to
have life insurance coverage you can count on – in good times
and bad.
Why Critical Illness Insurance
• AssurityBalance Simplified Critical
Illness pays a lump-sum benefit at the
first-ever diagnosis of 12 covered
illnesses or procedures. Guaranteed
renewable to age 75, this protection is
available for individuals 18 through 64
years of age. Our Simplified Critical
Illness also features the Return of
Premium Death Benefit. This product
also offers a short application with a
handful of health questions - no medical
exams are required.
• Category I: Invasive Cancer (100 %)
Non-Invasive Cancer (cancer in situ)
(25% - payable once per lifetime)
• Category II: Heart Attack ,Heart
Transplant (or combination transplant
including heart) - Stroke
• Coronary Bypass Surgery
• Angioplasty
• Category III: Advanced Alzheimer's
Disease
• Coma (not as a result of a stroke) Endstage Renal (kidney)
• Major Burns
• Major Organ Transplant (other than
heart)
• Paralysis (Not as a result of a stroke)
Why Disability Insurance
• Let's face it: Nobody likes to think about what life would look like should
disability strike. But the reality is one third of all Americans between the ages 35
and 65 will become disabled for more than 90 days, according to the American
Council of Life Insurers. One in seven workers will be disabled for more than five
years. And while many people think that disabilities are typically caused by
freak accidents, the majority of long-term absences are actually due to
illnesses, such as cancer and heart disease. The loss of income can be so
devastating that it forces some people to foreclose on their home or even
declare bankruptcy.
• Disability insurance replaces a portion of your income if you become disabled
and are no longer able to work. A typical group plan offered by an employer will
replace up to 60% of your salary. Supplemental plans and individual policies will
often cover up to 70% or 80%. (No plan will cover all of your salary for fear you
will have little or no incentive to get back to work.) Benefits typically last for a
set number of years (say five years) or until you reach retirement age. (Benefits
typically stop around retirement age since once you retire, you would no longer
be dependent on the income you generated by working, anyway.) If you pay the
premium out-of-pocket meaning your employer doesn't cover the tab benefits
are tax free.
Why Auto Insurance
• Auto insurance protects you from being financially responsible
for an accident, but you're required to pay monthly premiums
to keep the insurance. By law you must have car insurance if
you want to drive on the road and without it you can be fined,
lose your license, go to jail and also be sued depending on the
seriousness of the accident you caused. Even if you're pulled
over without car insurance you can be fined though which
means you must have and maintain auto insurance.
Why Long Term Care
• Long-term care insurance (LTC or LTCI), helps provide for the cost of
long-term care beyond a predetermined period. Long-term care
insurance covers care generally not covered by health insurance,
Medicare, or Medicaid.
• Individuals who require long-term care are generally not sick in the
traditional sense, but instead, are unable to perform the basic
activities of daily living (ADLs) such as dressing, bathing, eating,
toileting, continence, transferring (getting in and out of a bed or
chair), and walking.
• Age is not a determining factor in needing long-term care. About 60
percent of individuals over age 65 will require at least some type of
long-term care services during their lifetime. About 40% of those
receiving long-term care today are between 18 and 64. Once a
change of health occurs long-term care insurance may not be
available. Early onset (before age 65) Alzheimer's and Parkinson's
disease are rare but do occur.