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 experienced professionals on your side with an identity theft protection plan. Services include access to your credit report (or consumer credit disclosure), consultations, professional 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?
Cost of Long-Term Care Insurance
The rates you pay depend on a variety of things, including:
- Your age and health: The older you are and the more health problems you have, the more you’ll pay when you buy a policy.
- Gender: Women generally pay more than men because they live longer and have a greater chance of making long-term care insurance claims.
- Marital status: Premiums are lower for married people than for single people.
- Insurance company: Prices for the same amount of coverage will vary among insurance companies. That’s why it’s important to compare quotes from different carriers.
- Amount of coverage: You’ll pay more for richer coverage, such as higher limits on the daily and lifetime benefits, cost-of-living adjustments to protect against inflation, shorter elimination periods, and fewer restrictions on the types of care covered.
*Source: LTC Consumer
QUESTION ABOUT LONG TERM CARE
HOW CAN YOU PAY FOR LTC?
- Medicare
- Medicaid
- Self-insure
- Family members
- Long-term care insurance policy
WHAT DOES 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.
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.