Life Insurance and More
Additional Insurance Products For You:
Life Insurance
Dental Insurance
Long-Term Care Insurance
LTD (Long-Term Disability) and STD (Short-Term Disability) Insurance
How would your family pay for your mortgage, school tuition, health care or even groceries if you were to pass away unexpectedly? Life insurance is one of the most important, yet most overlooked products when it comes to wealth management and financial planning. Life insurance helps protect what matters most . . . your loved ones. Specifically, life insurance can address the needs of those who depend on you for financial support. A life insurance policy will protect the financial security you’ve worked hard to earn for the people you care about most. You can count on our agents to provide the quality care you deserve. Call today to discuss with one of our agents.
Protect your overall health with Dental Insurance. Medical experts have linked periodontal (gum) disease to stroke, heart disease, diabetes, pre-term or low-birth weight babies and other health issues. Nearly 75 percent of American adults have some form of periodontal disease, and the symptoms can be so mild that some people don’t even know they have them. But with proper daily dental care, regular dental checkups can help detect, prevent and treat gum disease and related disorders. Choose the right Dental plan and you can take a big step toward protecting your overall health.
The average United States citizen is living longer because of advancements in medicine. This means a higher likelihood of needing long-term care at some point before a person dies. When it comes to the rising cost of long-term care, it is important to understand your options. Traditional health insurance is not designed to cover long-term care. Medicare was not designed to adequately cover the long-term care costs many Americans may face, and Medicaid may not cover you until many of your assets have been depleted.
When might I need long-term care?
Long-term care is the kind of help you may need if you have a prolonged physical illness, disability, or severe cognitive impairment (such as Alzheimer’s and dementia) that keeps you from living an independent lifestyle. In addition to Alzheimer’s and dementia, other degenerative diseases such as obesity, diabetes, stroke, heart problems, cancer, and Parkinson’s Disease may also create the need for long-term care services.
What are the costs of long-term care?
Long-term care can be extremely expensive. Consider the high average annual cost of long-term care:
• Nursing Home – $81,777
• Assisted Living Facility – $42,345
• Home Care – $33,223
What is long-term care insurance?
Long-term care insurance is a type of insurance developed specifically to cover the costs of long-term care services, most of which are not covered by traditional health insurance or Medicare. Long-term care is a service provided in the form of home health care, assisted living facilities, community care, and as a last resort, nursing homes. Long-term care is not just skilled care, which most people associate with nursing homes. Instead, it’s more likely you will receive Custodial Care in your home, with an aid coming to help with everyday things like cooking and cleaning, and helping with your Activities of Daily Living (ADL’s) which are eating, bathing, dressing, transferring, toileting, and continence.
Planning Ahead–The Solution
The high cost of receiving long-term care can erode your life savings. With the average stay in a nursing home at 2.9 years, it adds up to an average cost of $237,153 per person or $474,306 for a married couple. And that is figured at today’s costs. Inflation has driven medical care costs up for years, and that trend will probably continue. Long-term care insurance can include inflation protection.
What if you could protect yourself from possibly the greatest financial risk you will face in your retirement years? With long-term care insurance, most, if not all, costs can be covered, depending on the policy. Imagine how relaxed you would feel knowing that you planned ahead and are protected.
Disability Insurance (Long-Term and Short-Term)
• Short-term disability – This coverage replaces a portion of lost salary in the event the policy owner misses six months or less of work. The coverage typically begins after all sick leave is exhausted, and replaces close to 100% of wages for the first payouts. If the policy owner remains unable to work, however, the payments will eventually drop, often to 60% of wages. The length of coverage and payment percentage vary from plan to plan, but these numbers are typical.
• Long-term disability – Some experts contend that long-term disability insurance is the most important insurance you can purchase. This can be partially attributed to advances in medical care; some diseases and injuries are now disabling rather than deadly, meaning that the incapacitation can be lengthy.
