Everyday, your income helps to pay for living expenses, but it also gives you the chance to do things you love to do. What would happen to your daily bills, etc., if a serious illness or accident were to happen?
Income protection--disability insurance, is an insurance policy that pays you benefits, just like a monthly paycheck, if you can't work because of an illness, like cancer or stroke, or if you were to suffer an injury that occurs while you are employed. You may be surprised at a recent disability statistic: 1 in 4 of today's 20-year-olds will become disabled before they retire. Illness and injuries can happen to anyone at anytime.
Take comfort in knowing that you will be able to maintain your current lifestyle no matter what life brings you by insuring your number one asset--your income.
The fitness craze is here to stay. Everyday, new diets and workout regimens are formulated, all with the idea to make us healthier, happier and to live a longer life. Your Vitality Age can give you a snapshot of your overall health
What does Vitality Age, fitness and good, healthy eating have to do with life insurance? Well for one thing, if you want to protect your loved ones financially in the event of your premature death, the healthier you are when applying for coverage, the lower your premium (cost of the policy) will be.
Insurance companies, like John Hancock, recognize how important a healthy lifestyle is during the process of applying for life insurance, as well as maintaining that healthy lifestyle throughout the life of the insureds policy. John Hancock’s Vitality program awards valuable rewards to its insured, just by simply living a healthy life. The healthier lifestyle, the more rewards and savings are possible.
This innovative life insurance solution provides the opportunity to significantly lower annual premiums, help organize personal health goals and provides a free FitBit to help track the insureds progress. In addition, there are discounts from various entertainment, shopping and travel companies.
Your Vitality Age is an indicator of your overall health and wellness. To discover your Vitality Age, click here.
RETIREMENT SOLUTIONS WITH LIFE INSURANCE
When it comes to retirement planning, are your looking for more potential annual income or more guarantees?
With some permanent life insurance policies, some will focus on “guaranteeing” that coverage will be there when you need it. Others provide the potential for tax-advantaged, cash benefits, which can be used to supplement retirement income.
Which one is right for you? Income, guarantees, or both?
For more information, check out Quality of Life…Insurance, by AIG.
THE MISCONCEPTIONS OF LIFE INSURANCE
There are three common misconceptions that prevent many young families from investing in the life insurance that they need. They are:
- Life insurance is only needed on the primary breadwinner of the family. If your paycheck is smaller than the primary breadwinner, your income is still needed for your family to maintain their quality of life. If you or your spouse do not work outside of the home, life insurance on the stay-at-home parent is still needed to replace valuable services that are lost such as, childcare, cooking, household work and management.
- When my term life insurance policy ends, it will be easy to renew the policy. Term life insurance provides protection for a specific amount of time (and usually at a low cost) and can be a good fit for those who feel that their financial needs will change or disappear overtime, such as a mortgage or a child's education. But because life insurance premiums increase with age-and declining health, renewing a term policy can be very expensive.
- My family and I only need term life insurance. Again, term is good for a specific amount of time, but many families realize that their need for life insurance continues because they want to provide an income for a surviving spouse, send a child to college or paying off debt. Permanent life insurance not only provides a death benefit to your beneficiaries, but it also provides lifelong protection with the ability to accumulate cash value on a tax-deferred basis. The cash value can be accessed for many important uses mentioned above, as well as supplementing your retirement income.
- If you were to die unexpectedly, the life insurance you invest in is there to make sure your loved ones can maintain their standard of living and keep their future plans on track. For more information on term and permanent life insurance solutions, send me an email.
SOME FACTS ABOUT RETIREMENT
Are you prepared for getting seriously ill or living longer than you expected?
Did you know that:
- Most Americans spend over 20 years in retirement
- 91% of elderly citizens have at least one chronic condition and 73% have two or more
- The number of Americans who need long-term care will more than double by 2050
- 44% of parents provide support with living expenses for their 18-29 year old children
Many people are unaware that life insurance can be a powerful wealth accumulation vehicle for their retirement years. Using life insurance products can help you accumulate and access tax-deferred funds, increase life insurance benefits without increasing premiums and provide lock-in options that can provide guaranteed income.
It's a fact that many Americans are not saving enough for retirement. It's also a fact that market volatility can put retirement income--your future income, at risk.
Are you saving enough? If using life insurance to help you supplement your retirement income sounds like a worthy investment to you, send me an email for more information.
CHOOSE YOUR LIFE INSURANCE WISELY
You probably already know about the benefits of a traditional life insurance policy--to provide a death benefit to your loved ones in the event of your premature death.
But what if you were diagnosed with cancer or were to suffer a stroke or heart attack and survive? What would be your financial needs during a critical or long-term chronic illness?
Quality of Life...Insurance, offered by American General, addresses these concerns with it's Accelerated Benefit Riders (ABRs) for chronic, critical and terminal illness.
QoL Flex Term product gives you the additional protection and flexibility to receive benefits from your policy if you were to suffer a qualifying illness or condition. Plus, there is a conversion option that allows you to upgrade to a permanent Quality of Life...Insurance policy if your needs change.
This additional protection is offered at prices that are extremely competitive when compared to other life insurance carriers, such as Banner Life, Mutual of Omaha, North American and many more.
QoL Flex Term policy is an attractive term insurance product that can provide you with a noticeable value by offering more than just a death benefit. It's also a chance to help improve your quality of life in case of a critical or chronic illness.
Quality of Life...Insurance: It's life insurance you don't have to die to use.
For more information on QoL products, contact me.
LIFE INSURANCE IS FOR THE LIVING
Just about everyone with a family knows that traditional life insurance is designed to provide financial security for their loved ones in the event of their premature death. Yet, there are still many people who have never applied for this protection.
If you are one of those people still not sure you need to invest in traditional life insurance, would you consider a life insurance product that you can access to help pay bills while you are still living?
I know it sounds too good to be true, but many insurance companies are now providing Accelerated Benefit Riders to their life insurance policies that do just that--advance a portion of the insured's death benefit in case of a qualifying illness or condition.
The use of an Accelerated Benefit Rider can help defray the cost of a qualifying critical illness such as a major heart attack, invasive cancer or a stroke. These riders can act like a disability income policy by allowing you to pay your bills if you are unable to work due to a sickness or serious accident.
Still not convinced that you would ever need a life insurance policy, even with Accelerated Benefits? Listen to Chris' story here.