Long-term care and disability insurance
Income is important for both current financial obligations (e.g. grocery bills and mortgage payments) and for future financial resources (e.g. planning for a child’s education or for retirement). Just think what might happen if an income stream was lost through a long-term illness or disability.Long-term care and disability insurance products help protect the ability to earn an income, which can be affected by a disability or other condition.
Advantages of long-term care and disability insurance products include:
Helping maintain financial independence, lifestyle and long-term financial resources in the event income is impacted by disability
The two major types of disability insurance are Own Occupation Disability Insurance and Loss of Earning Disability Insurance. Own occupation disability insurance covers the ability of a disabled person to work in their own occupation, but may allow work in another job. Loss of earnings disability insurance provides payment for the percentage of income lost due to a disability.
A comprehensive financial plan can protect income through long-term care and disability insurance. Contact me today to find out which policies are best for your unique circumstances.
Critical illness insurance
Suffering a critical illness is a distressing event. Help ease the burden through a type of insurance that will reduce financial stresses. By helping pay for the additional expenses often associated with a critical illness or condition, insurance offers individuals, families and if applicable, businesses, added financial resources —so the focus remains on recovery.
The advantages of critical illness insurance can include:
Coverage encompasses a wide range of screening tests An initial lump-sum benefit of up to $500,000 that policy-holders can use however they wish—from making mortgage payments to home health care
Employers or organizations can add value to benefit packages at an affordable cost
Critical illness insurance pays a cash benefit if the policy-holder makes a full recovery