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Employee Benefits - Insurance - Investments
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Long Term Care Insurance
Unlike traditional health insurance, long-term care insurance is designed to cover long-term services and supports, including personal and custodial care in a variety of settings such as your home, a community organization, or other facility.
Long-term care insurance policies reimburse pilicyholders a daily amount (up to a pre-selected limit) for services to assist them with activities of daily living such as bathing, dressing, or eating. You can select a range of care options and benefits that allow you to get the services you need, where you need them (U.S. Department of Health and Human Services).
Disability Insurance is also known as Income Replacement Insurance. It may be bought to cover a short term need or to cover a long term need. The purpose is to replace income which may be lost if one is unable to work. The waiting period before the benefit kicks in, the duration of time the policy will pay and the percentage of income which is replaced are all variables in the plan. The premium for the policy is determined by these variables as well as others, such as occupation, demographics and other risk factors.
Life insurance is an easy way to provide for your family and the ones you love after you've passed on. Life insurance is key to providing financial security and stability for those who depend on you. There are two major types of life insurance; Term Life Insurance and Permanent Life Insurance.
While there are several variations of Term Life Insurance, generally Term can be considered a contract with the life insurance company that provides you protection for a specified number of years. This is often referred to as pure protection or temporary coverage. Term Life Insurance has no cash savings value but provides the maximum death benefit for the lowest premiums.
Like Term Life Insurance there are also various types of Permanent Life plans. If you are interested in long term planning, Permanent Life Insurance may be a less expensive option of life insurance since premiums are fixed and it builds value. Permanent Life Insurance can provide you coverage for extended durations--even your entire life. Plus, the cash value accumulates on a tax-deferred basis.
Investing & Retirement