Life & Disability Insurance

Mitigate financial burden in stressful times and reinforce financial security.

Life & Disability

Life insurance

Life insurance is an important part in your financial planning. We are here to help discuss the various options and to make sure you have the right amount to meet your goals. Life insurance is a type of insurance that provides financial protection to an individual’s family in the event of their death. It can provide financial security in the form of a lump sum payout, which can be used for various expenses such as funeral costs, medical bills, mortgage payments, college tuition, or to provide ongoing income for family members. The primary benefit of life insurance is the peace of mind that comes with knowing that your family will be taken care of in the event of your death. Life insurance can also be used for wealth and estate planning. When it comes to estate planning and life insurance, the primary tax purpose is to provide liquidity to the estate following the death of the policyholder. This liquidity is crucial when an estate is responsible for covering taxes, debts, and other major financial expenses that may be inherited. There are several types of life insurance products available, including: Term life insurance: This type of policy offers coverage for a predetermined period of time and pays out a death benefit only if the policyholder dies during the term. Whole life insurance: This type of policy provides lifelong coverage and accumulates cash value over time that can be accessed through policy loans or withdrawals. Universal life insurance: This type of policy combines the features of term life and whole life insurance, offering both lifelong coverage and cash value accumulation. Variable life insurance: This type of policy combines a death benefit with an investment component, allowing policyholders to customize the investment options within their policy.

Disability

Your greatest financial asset is your ability to earn an income. What if that income stops or is significantly reduced due to an onset of a sudden illness or an accident that leaves you disabled? A Disability Income (or Income Protection) policy protects you against the biggest threat to your household income stream – an illness or disability that inhibits you to work, earning that level of income you are accustomed to maintain your lifestyle. Remember, expenses remain, bills need to be paid but now your income is shut off or reduced significantly. A Disability Income policy will cover you in the event of:

a car accident leaving you temporarily or permanently disabled
a recreational sport injury that leaves you paralyzed or with a disabling injury
blindness due to an accidental injury or disease
any chronic or sudden illness (i.e. stroke, cancer, hepatitis, multiple sclerosis) where you are left unable to work

Protect your income and your lifestyle as this is a critical part of your Insurance Portfolio.

There are a variety of ancillary dental and vision carriers in the marketplace that provide various coverages for employees. It is essential to offer a wide range of benefits, whether employee or employer-paid, to attract and retain your employees. Understanding the market is important when offering HMO or PPO plan-type options. We will analyze various options to see what will fit best for you and your team.

Below are some examples of why it is important to offer a dental and vision policy to your employees:

Cost Savings: Dental and vision insurance can help reduce the out-of-pocket expenses associated with routine dental and eye care, such as regular check-ups, cleanings, and eye exams.
Preventive Care: Dental and vision insurance encourages preventive care by having regular exams and cleanings, which can help identify and address potential dental and eye health issues before they become more severe and costly.
Access to Services: Having dental and vision insurance can provide access to a broader range of services and treatment options, which may not be affordable without insurance coverage.
Improved Overall Health: Dental and vision health are essential components of overall health, and having insurance coverage can help ensure that these areas are adequately addressed.
Peace of Mind: Dental and vision insurance can provide peace of mind, knowing that you have coverage in the event of an unexpected dental or vision issue.