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| Retirement Planning and Employee Benefits | Long Term Care and Disability Insurance | Small Business Specialy Insurance |
Long-Term Care Insurance
When purchasing an insurance or financial product, the client must be well informed. The sole presentation of quotes and numbers do not give the complete picture of the purchase. The role of our agents is to inform our clients of all the options available for them to choose a product that meets their needs, expectations and budget. We refuse to be an online volume seller. Our unique and personalized service has been the key to our success for the past 15 years.
Long-Term Care Insurance, LTC or LTCI, is an insurance product that helps provide for the cost of care or care-taker during disability or old age. 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, 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.
Private long-term care insurance is growing in popularity in the United States. New tax advantages have made these policies more affordable and attractive. Many of these policies can be purchased by individuals or by employees and employers through a business.
Long-term care insurance rates are determined by six main factors: the person's age, the daily benefit, how long the benefits pay, the elimination period, inflation protection, and the health rating (preferred, standard, sub-standard). Most companies will give couple's and multi-life discounts on LTC policies. The policy can be tailored to the needs of the individual. The meeting face to face with an ethical, professional and experienced insurance agent is conductive to choosing the right policy. As for most of financial products, the choice of a top rated insurance company is even more important. Top rated, mutually structured, Triple A, superior rated insurance companies usually train and select their professionals better. They also give you a broader choice of policies coupled with financial strength and strict adherence to regulation.
Disability
Disability insurance, often called disability income insurance, is a form of insurance that insures the beneficiary's earned income against the risk that disability will make working and therefore earning, impossible. This is also called “replacement of income”
Policies vary in types such as Non Cancellable or Guaranteed Renewable. Also, the trade, activity and income of the individual will greatly influence the policy being offered. Length of coverage and elimination periods must be tailored to fit the needs of the individual as well as benefit amount to be received in case of a claim will affect the premium to be paid for the policy.
These policies offer payments to individuals or employees who are unable to work because of any injury or illness, even if it is not job-related. LTD or long term disability pay benefits if the disability usually lasts between 3 months to years. STD or short term disability takes care of short term illness that lasts few months. The loss of income because of the birth of a child could be considered STD. The meeting face to face with an ethical, professional and experienced insurance agent is conductive to choosing the right policy. Every individual has different needs and objectives that need to be evaluated before a recommendation is made.