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Life, Disability (Income Protection) and Long Term Care

Services offered through our licensed life, accident & health agents and affiliated brokers.

Whole Life

Whole life insurance, also known as permanent life insurance, is a type of life insurance policy that provides coverage for the entire lifetime of the insured person, as long as the premiums are paid.

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It is different from term life insurance, which only provides coverage for a certain period of time and does not build cash value.

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Whole life insurance policies include a savings component, which means that part of the premium payments goes into a cash value account that can accumulate over time. This cash value can be borrowed against or used to pay premiums later in life. 

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The policy also includes a death benefit that is paid to the beneficiaries when the insured person dies. Whole life insurance policies are more expensive than term life insurance policies, but they provide lifetime protection and long-term savings.

Whole Life

Universal Life

Universal life insurance is a type of permanent life insurance that provides flexible premiums and adjustable death benefits. Unlike term life insurance, which only provides coverage for a specific period of time, universal life insurance provides coverage for the insured's entire lifetime, as long as premiums are paid. The policyholder can also adjust the death benefit amount and premium payments, subject to certain limits, allowing them to tailor the policy to their changing needs and budget. Additionally, a portion of the premium payments may be invested, which can potentially accumulate cash value over time.

Universal Life

Term Life

Term life insurance is a type of life insurance that provides coverage for a specific period of time, such as 10, 20 or 30 years. If the insured dies during the term of the policy, the death benefit will be paid to the beneficiaries. If the insured is still alive at the end of the term, the coverage will expire and there will be no death benefit paid.

 

Term life insurance policies are generally less expensive than permanent life insurance policies, such as whole life or universal life insurance, because they only provide coverage for a specific period of time. They are often used to provide financial protection for a specific need, such as covering a mortgage or providing income for dependents.

 

It is important to note that term life insurance policies can often be renewed at the end of the initial term, however, the premiums will generally be higher than the initial term and will increase as the policyholder ages.

Term Life

Key Man Life

Key man life insurance, also known as key person life insurance, is a type of life insurance that is purchased by a company to protect itself against the loss of a key employee. The policy is taken out on the life of the key employee and the death benefit is paid to the company if that employee dies.

 

The purpose of key man life insurance is to provide the company with financial protection against the loss of a key employee, who may be critical to the company's operations or success. The death benefit can be used to cover expenses such as recruiting and training a replacement, or to provide financial stability during a period of transition.

 

Key man life insurance can be an important tool for small businesses that rely heavily on a small number of key employees, as the loss of one of those employees could have a significant impact on the company.

Key Man Life

Short Term Domestic Disability

Domestic short-term disability insurance is a type of insurance that provides financial protection for individuals who become temporarily disabled and unable to work due to a non-work-related illness or injury. The coverage typically lasts for a few weeks to a few months and is intended to provide income replacement during the period of disability.

 

Domestic short-term disability insurance policies can vary in terms of the specific benefits they provide, but they typically cover a portion of the policyholder's income and may also cover certain expenses such as medical bills. The amount of coverage and the length of time for which benefits are paid can also vary depending on the policy.

 

Domestic short-term disability insurance is not mandatory and not offered by all employers, so it is important to check the availability and terms of such coverage if you are interested. Some employers offer short-term disability insurance as part of their employee benefits package, but it can also be purchased as an individual policy.

STDD

Long Term Domestic Disability

Domestic long-term disability insurance (LTD) is a type of insurance that provides financial protection for individuals who become permanently or temporarily disabled and unable to work due to a non-work-related illness or injury. The coverage typically lasts for a longer period of time, such as a few months to several years, or even for the policyholder's entire lifetime, depending on the policy and the nature of the disability.

 

Domestic long-term disability insurance policies can vary in terms of the specific benefits they provide, but they typically cover a portion of the policyholder's income and may also cover certain expenses such as medical bills. The amount of coverage and the length of time for which benefits are paid can also vary depending on the policy.

 

Like short-term disability, long-term disability insurance is not mandatory and not offered by all employers, so it is important to check the availability and terms of such coverage if you are interested.

LTDD

Short and Long Term Guaranteed Standard Issue (GSI) Disability

GSI disability refers to "guaranteed standard issue" disability insurance. It is a type of disability insurance that is typically sold to individuals by insurance agents or brokers. GSI disability policies are usually issued without requiring a medical exam, and are based on the applicant's answers to health questions on the application.

 

GSI disability policies are designed to be more accessible than traditional disability insurance policies, which can be more difficult to qualify for if you have pre-existing medical conditions. They are also typically more affordable than traditional policies and can be issued quickly.

 

The coverage and terms of GSI disability policies can vary depending on the insurer and the specific policy. Policyholders should be aware that GSI policies may have more exclusions and may not provide as comprehensive coverage as traditional policies. Additionally, GSI policies may have a higher likelihood of denied claims and may have a lower monthly benefit amount.

SLTGSID

Short and Long Term Lloyd’s of London Disability

Lloyd's of London disability insurance policies are designed to provide financial protection for individuals who become disabled and unable to work due to a non-work-related illness or injury. The coverage typically lasts for a longer period of time, such as a few months to several years or even for the policyholder's entire lifetime, depending on the policy and the nature of the disability.

 

Lloyd's of London disability insurance policies are known for their flexibility and can be tailored to meet the specific needs of policyholders. They can also be more comprehensive than standard disability insurance policies and can include coverage for things like loss of income, medical expenses, and additional living expenses.

SLTLLD

Long Term Care - Traditional/Hybrid/Universal Life

Long-term care insurance (LTC) is a type of insurance that helps cover the costs of long-term care services, such as nursing home care, assisted living, or in-home care, for individuals who are unable to care for themselves due to a chronic illness, disability, or cognitive impairment.

 

Long-term care insurance policies typically pay a daily or monthly benefit to help cover the costs of long-term care services, and may also pay for certain home modifications and medical equipment. The amount of coverage and the length of time for which benefits are paid can vary depending on the policy.

Long Term Care
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