PROTECTION IN CASE YOU LIVE, LIVE WITHOUT COMPROMISE,
LIVING BENEFITS FOR ALL STAGES OF LIFE
Living benefits should be made up of an individualized consideration of 3 types of coverage. The key is to find the ideal blend of protection based on age, health and affordability. Making sure you can live without compromise.
The risks and the costs increase dramatically with age.
Types of coverage
Disability – This is income protection insurance. It protects you and your income if you are unable to do your job. It is based on the type of job, income and health. There are many variations and options with disability. It is the primary focus for those ages 21-55. Many people have some coverage with work. It is prudent to review the existing coverage for knowledge of coverage and to confirm if there are any limitations or maximums that could be of concern. Disability ends when you retire or generally at age 65. It is a plan in plan to protect the most important asset you have – The ability to earn income.
Critical Illness – This is a lump sum policy on diagnosis. It offers the upfront funds to get through a serious covered condition. Most commonly claims are triggered due to cancer, heart attack and stroke although more than 25 illnesses are covered. This benefit pays regardless of occupation or other benefits. It is especially attractive for children and income earning years. There are many types of policies but it uniquely offers a return of premium feature. If you do not collect, you get all the premiums back. Guaranteed.
Long Term Care – This is a policy to provide income or funds when an individual is dependent or in need of assistance from another person due to physical or mental impairment. It is not based on a specific disease or accident instead it is based on your individual need and situation. The long term care is a misunderstood benefit that has far more value that it appears. It offers an unlimited benefit option and is for life. It protects while young in case of serious health issues and remains in force through all stages of retirement. It is not based on income or occupation. It can have limited payments so to minimize cost in later years while coverage remains in force for life.