Other Services

We Offer A Variety of Additional Services Provided to All Plan Participants

We Offer A Variety of Additional Services Provided to All Plan Participants

IDENTITY THEFT PLAN
WHY SHOULD YOU PROTECT YOUR IDENTITY?

Everyone deserves identity theft protection. Including you.
Identity theft affects millions of Americans each year. Victims of identity theft can face issues such as lost job opportunities, problems with securing a loan or harassment from debt collectors. You can get the experts on your side with an identity theft protection plan. Services include access to your credit report (or consumer credit disclosure), consultations, expert restoration and more.

 

DISABILITY INSURANCE

A disability insurance policy pays a monthly benefit in the event of a disability. The monthly benefit amount can be used to replace income lost as a result of the disability, help to meet ongoing financial obligations, and possibly continue to maintain financial goals.

WHAT TYPE OF DISABILITIES MIGHT YOU FACE?

Most people think something like a car accident, heart attack or on the job injury that would quickly render them totally and completely unable to work. In reality, disabilities are caused by accidents and illnesses from minor to severe – from headaches to cancer and everything in between.

Some disabilities are sudden and serious, while others are milder, only slightly impacting one’s ability to work. Other disabilities develop slowly and worsen over time. No one can know in advance, so it’s best to be prepared with disability insurance.

 

DEFINITION OF DISABILITY

When comparing policies, the definition of disability can make all the difference in the amount of protection offered. You should look for a policy with a definition of total disability that focuses on your ability (or inability) to do the duties of your occupation – the job you were doing when you became disabled. This is in contrast to some definitions which look at your ability to do any job or occupation. Depending on the circumstances of your disability, it could be more difficult to qualify for benefits with that type of policy.

It’s also important to look for a policy that pays for partial disability as well as total disability. A disability insurance policy that has partial disability protection allows you to collect benefits even while working part-time.

 

TYPES OF DISABILITY INSURANCE

Short-Term Disability (STD)

Short-Term Disability policies (STD) have a waiting period of 0 to 14 days with a maximum benefit period of no longer than two years.

 

Long-Term Disability (LTD)

Long-Term Disability policies (LTD) have a waiting period of several weeks to several months with a maximum benefit period ranging from a few years to the rest of your life.

 

LONG TERM CARE INSURANCE

Because of the aging population and longevity, mental or physical illness, or injury, some people find themselves in need of help with eating, bathing, dressing, toileting or continence, and/or transferring (e.g., getting out of a chair or out of bed). In general, if you can’t do two or more of these activities, or if you have a cognitive impairment, you are said to need “long-term care.”
 

Many people think that long-term care is provided exclusively in a nursing home. It can be, but it can also be provided in an adult day care center, an assisted living facility, or at home!

HOW MUCH DOES LTC COST?

SAMPLE COST OF CARE FOR ONE YEAR BY LOCATION:

 

The United States New York Long Island
In-home care (44 hrs/week) $43,472 $48,620 $50,061
Assisted Living $38,220 $39,060 $45,600
Nursing Home $75,190 $116,800 $145,088

QUESTION ABOUT LONG TERM DISABILITY

HOW CAN YOU PAY FOR LTC?
  • Medicare
  • Medicaid
  • Self-insure
  • Family members
  • Long-term care insurance policy
  • Win the lottery
WHAT DOES THREE SQUARES AND A STAR MANAGEMENT GROUP LONG-TERM CARE INSURANCE COVER?
  • Nursing home
  • Assisted living
  • Home health aides and personal care attendants
  • Nurse and therapist visits
  • Homemaker services such as meals and laundry
  • Adult day care
  • Caregiver training
  • Respite care
  • Home modifications such as wheelchair ramps
  • Bed reservation
  • $10,000 death benefit
WHAT IS A SAMPLE DESIGN OF THE BENEFITS OFFERED?
  • Choose a benefit between $4,500 and $12,000 per month.
  • Benefits will last for 3 years, 5 years or a lifetime.
  • Benefits usually start after 90 days of care.
  • Option to increase benefits 3-5% compounded each year.
  • Home care percentage is 100% of facility coverage
WHY PURCHASE A POLICY?
  • Maintain independence.
  • Not a burden to family.
  • Stay in your house longer.
  • Protect you and your spouse’s retirement.
  • Pass your assets to your children or grandchildren, not the government.

LIFE INSURANCE

A Cornerstone of Your Financial Security:
There are many kinds of life insurance, but they generally fall into two categories: Term Insurance and Permanent Insurance.

TERM INSURANCE

Term insurance is designed to meet temporary needs. It provides protection for a specific period of time (the “term”) and generally pays a benefit only if you die during the term.

This type of insurance often makes sense when you have a need for coverage that will disappear at a specific point in time. For instance, you may decide that you only need coverage until your children graduate from college or a particular debt is paid off, such as your mortgage.

PERMANENT INSURANCE

Permanent insurance provides lifelong protection. As long as you pay the premiums, and no loans, withdrawals or surrenders are taken, the full-face amount will be paid.

Because it is designed to last a lifetime, permanent life insurance accumulates cash value and is priced for you to keep over a long period of time.