Insurance Risk Management

Life, Disability and Long Term Care

A sound financial plan must consider the insurance coverage you, your spouse and family members may require. Proper insurance planning can help protect you and your family from the unexpected.

Life Insurance
Life insurance is an important financial tool that’s appropriate for almost everyone.You’ve helped build a standard of living for your family. Life insurance can help them maintain that standard should you no longer be around to provide. In other words, it can provide your family with the money they’ll need to make up for your lost income.

Life insurance can also be used to pay for funeral expenses, repay outstanding debts, make charitable donations and provide living expenses for surviving family members. It can also be used to cover estate taxes and probate fees to enable your estate to be liquidated in the most appropriate manner.

Long Term Care Insurance
Designed to cover long-term services and support, 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 policyholders 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.

Disability Insurance
Disability Insurance is the industry name for a plan that provides for periodic payments of benefits when a disabled insured is unable to work. The insurance product is typically designed to replace up to 65% of your gross income on a tax-free basis should illness or accident keep you from earning an income in your occupation.

In terms of its financial effect on the family, long-term disability can be just as severe as death. Disability income protection can come from several sources: social insurance programs, employer-provided benefits, and individually purchased policies.