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Protecting Your Family
If you have family at home, you know you’d do just about anything to protect them…install home alarm systems, purchase safe vehicles, encourage regular doctor visits. But some types of safety measures don’t always come immediately to mind for protecting those who are most precious to us. Insurance is a smart way to protect yourself and your family in the case of an accident or unplanned event. It basically gives you protection against the unexpected.
If you pass away, would your surviving family be okay without your income? With life insurance, the insuree pays a regular premium to the insurer and upon death of the insuree, the designated beneficiary receives a sum of money. There are different kinds of life insurance to choose from. Term insurance is typically just for protection and pays out a lump sum. There are also whole life policies where you can grow and invest the money you are putting toward the premium.
What if a chronic illness or disability renders you unable to work for a substantial period of time? Disability insurance ensures that you would still receive a form of income even if a disability creates a barrier for you to complete the core functions of your job. This can encompass paid sick leave, short-term disability benefits, and long-term disability benefits.
Supplemental Health Insurance
As the name suggests, supplemental health insurance would be in addition to your primary health insurance. Although you may have health insurance, it might not cover all of your out of pocket expenses. The right kind of supplemental health coverage can help you with medical bills, hospital stays, and even childcare and transportation.
Long Term Care Insurance
Long term care insurance typically covers home care, assisted living, adult daycare, respite care, hospice care, nursing home, and Alzheimer’s facilities.* When considering if you’ll need long term care insurance, it’s important to think about financial security. Do you have enough savings to cover long-term care without insurance? Long-term care insurance helps you pay for the care you need that you would otherwise have to pay for yourself.
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