Life & Health Insurance

Life Insurance is more than just providing for beneficiaries. In today’s economy, it’s being used in a variety of ways, and is a major component for a well rounded financial plan. In the same token, your health is too important to leave unprotected. Health insurance can prevent you from facing financial bankruptcy in the event of a catastrophic illness or injury.

Permanent Insurance
Permanent insurance, such as “universal” or “whole” life, provides lifelong protection. In addition to the death benefit, the policy also has a “cash value” that grows until it reaches its full value (also called its “maturity”), typically when you turn 95.

Term Life
Term offers protection for a specific period of time, usually 10, 15, 20 or 30 years. One of the reasons it’s so popular is that the cost of a term policy is lower than a permanent policy. That’s a big plus for young families who typically have the greatest need for financial protection. Term is a good option if you need to cover a specific expense that will eventually disappear, such as a mortgage or college for your kids. The idea of course, is to make sure those expenses don’t become a financial burden for your loved ones.

Group Life
As a business professional you have worked hard to build your business to its current level of success. To ensure the continued financial stability of your hard work, it is important to consider what will transpire in your absence. The process for business owners is twofold; “will my family be able to maintain their standard of living” and “will my business be able to continue without my support?”

Many business partners overlook a critical element of their partnership agreement that can save them both money and angst: buy-sell provisions. When you create provisions for your partnership agreement, you and your partners can prepare for events that can devastate a successful business; a death, divorce, bankruptcy or retirement of one of its owners.