Life and Disability Insurance
The type of insurance you may need depends on many factors including your age, your liabilities, your occupation, whether you own a business and what coverage you may already have through your current employer. We’ll thoroughly review your options together so that you can make an informed choice.
Here is a brief summary of the types of insurance available to you.
Term Life Insurance
Term life insurance offers a fixed amount of insurance for a fixed amount of time and it is paid for with regular monthly premiums based on age, health and amount of coverage. If the policyholder passes away within the term of the policy, the policyholder’s beneficiary would receive the death benefit.
This type of insurance is most common with my clients as it is an affordable and sensible option. It is generally purchased by people who want to be sure their partner or family is protected from financial burden, should they pass away. For example, they may choose to purchase a policy with enough coverage to ensure the mortgage or other major liabilities would be paid for.
Permanent Life Insurance
Permanent life insurance combines both insurance and investing into one product. Often times, this type of policy is used by people with complicated finances who may intend for the death benefit to cover estate taxes upon their death. In addition, there are different types of insurance: Whole Life, Term to 100 and Universal Life.
We can review these options together to determine which policy, if any, are right for you and your family.
There are different types of disability insurance with each serving a different purpose, including short term or long term disability, long term care and critical illness. Depending on your needs, health, coverage by your employer and your financial situation, we can review these options together to decide if you need coverage.