Life and Disability

What would happen to the lifestyle of your family if something happened to you?

 

There are two basic types of Life Insurance which protects your family from a sudden and devastating life change in the case of your death.

  If you are the primary or sole income provider for your family, that income can also come to a sudden halt if you are temporarily or permanently disabled. To put it simply, there are two types of Disability Insurance available…short-term disability, and long-term disability. Most people have a combination of the two.

Term Life Insurance

Term Life Insurance is much less expensive, but it simply provides benefits for a term period…usually 10, 20, or 30 years. You pay your premiums, and benefits go to the beneficiary in the case of your death. It’s less expensive, but at the end of the term, the insurance ends, and you have to re-apply. As you age, the premium increases, so it can be much more expensive to insure for another term.

Permanent Life Insurance

Permanent Life Insurance is more expensive, but there are MANY advantages. You can take loans out of the earned equity, use part of the money, and have it build interest. If put together properly and to your desire, you can retire with an amount many times of the total premiums that you have paid over the years. You can even fund an annuity with the earned premium. There are so many advantages, that I would love to sit down with you and discuss it.

Short-Term Disability

If you are temporarily disabled and unable to perform your usual work, such as having a broken arm and working doing construction, short-term kicks in immediately or with a short waiting period so that you have income until you can return to work.

Long-Term Disability

If you are permanently disabled and have this insurance, there is a longer waiting period before you receive the income from insurance, but the income is sustained for a longer period, or for the remainder of your life.