Life Insurance

You can’t put a dollar amount on your family, but you can ensure their future is protected. We can’t predict when the unexpected will happen, but we can help you prepare for it when it does.

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Individual life insurance is arguably the biggest investment you can make in your loved ones’ security. It’s a complicated field, but don’t let that put you off. We’ll be happy to talk you through the options.

 

First, you’ll need to determine the type of life insurance you want to buy, with the most common types being term life insurance, whole life insurance, and universal life insurance. Each has its own way of paying out, and the plan you choose can be best determined by your individual needs.

 

What is term life insurance?

• With term life insurance, you pay regular premiums for a set period and the policy only pays out if you die during this period.

 

What is whole life insurance?

• With whole life insurance, there’s no set period. You usually pay regular premiums until you die, at which point the policy pays out. Sometimes, you have the option to take a lump sum out while you are still alive, but this will reduce the amount paid out when you die.

 

What is universal life insurance?

• Universal life insurance works in a similar way to whole life insurance, but you have more flexibility about taking money early. You can even borrow money and repay it later; although, if there’s any loan outstanding when you die, the policy’s payout can be significantly affected.

 

The premiums you pay depend heavily on your age and medical history, along with the amount you want the policy to pay out. So, it’s important to seek expert advice before committing to life insurance.

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What is Long-Term Care?

• Many people can expect to need long term care at some point in their lives. They may suffer from a disabling accident, chronic illness or be unable to complete simple activities such as dressing, bathing or moving around the house. Receiving help for these activities can be expensive and may require the possibility of a loved one needing to provide care. Becoming a caregiver can impact their income, assets and lifestyle, just as much as it could impact the person they are caring for. There is a big difference between caring about your loved one and caring for your loved one. Many people use Long Term Care insurance as a way to cover future costs associated with these situations and help protect their assets and loved ones.

 

We’ll walk you through the options and help you to determine which is right for you.  Contact us today!