Ensure that You and Your Loved Ones are Adequately Covered

When most people think about life insurance, they think of a death benefit left to another party (such as a spouse, family member or friend) or a beneficiary (such as a charitable organization or business need). Business needs may involve buy-sell agreements, key person and collateral assignments for loans. However, life insurance can also provide financial security to you and your loved ones.

Two main types of life insurance are available:

*Whole Life – typically purchased as a permanent policy that involves possible cash value accrual.

*Term Life – this type of insurance is usually purchased for a specific period of time and the premiums are set for that period of time. The time periods are usually 5, 10, 15, 20, 25 or 30 years. Term insurance is usually less expensive than permanent because it has no cash value accrual and is not as flexible as permanent.

Health Insurance covers an individual when he or she cannot work due to injury or illness. Some heath and/or disability policies also define work as your own occupation for which you work and are trained. These policies provide an income stream when individuals or companies lose wages or income due to a injury or sickness.

Workers Compensation Insurance also has a disability aspect when the worker is injured on the job or work related illness. Disability insurance can be purchased on a short-term or long-term basis and entails a waiting period before the policy starts to pay benefits.

Life, health and disability Insurance help protect individuals’ estates, heirs and businesses due to death and disability. Contact the experts at Insurance, Inc. to make sure that you and your loved ones are adequately protected in the event of death or disease.