Life Insurance

Long Term Care Insurance

Long Term Care Insurance is still a relatively new type of insurance product. Many people do not understand what long term care insurance policies cover, how and when the policies pay benefits, and who should obtain coverage.

Life Insurance

Life insurance provides a death benefit for your beneficiaries. You can protect your family and/or your business with insurance poli-cies tailored to your specific needs. Policies are an integral part of the personal financial planning process and your business can take advantage of insurance policies tailored to provide Key Employee, Buy/Sell, and Executive Benefits.

Permanent Life Insurance provides life—long insurance protection, provided the premiums are paid, or in the case of some policies, provided the policy remains in force. Permanent life insurance builds cash value. This amount—part of which is guaranteed under may policies—can be used in the future for any purpose you wish. For example, you can borrow cash value for a down pay-ment on a home, to help pay for your children's education, or to provide supplemental income for your retirement. Despite higher initial premiums, permanent life insurance can actually be less expensive than term insurance in the long run. Permanent life insur-ance can also eliminate the problem of future insurability. It does not expire after a certain period of time and it does not need to be renewed.*

Term Life Insurance provides a death benefit only for a specific length of time, when the term of the coverage expires so does your protection. Also, if you stop paying premiums the coverage ends. This is often the product of choice for those who expect their protection needs to be substantial for a period of time, but then decrease. Term insurance can be an effective way to supplement permanent insurance during high need years, such as when family and/or business financial responsibilities outpace income. Many buy term coverage when they are younger and cash flow is a concern that is why the term policy’s conversion privilege is important. This valuable feature is usually available in the first few years of the policy and allows you to convert to permanent insurance without submitting evidence of insurability.
 

*Accessing the cash value via policy loans will reduce the death benefit and cash value by the amount of the outstanding loan and loan interest.

Employer Group Benefits

Attracting and keeping productive talent is essential in today’s challenging business environment. By offering comprehensive and well structured compensation and benefits programs, your company can differentiate itself from the competition.