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Term Life Insurance - simplest form of income protectionavailable. You purchase a specified dollar amount for a specific time. The primary options to be aware of with term insurance is the renewability feature and period of time, if any, in which thepremium is guaranteed at the given rate. You may purchase a 10, 15 or 20 year guaranteed premium policy. Your individual needs will help you determine the length of time to purchase. Universal & Whole Life Insurance - both of these insurance policies are considered to be permanent forms of insurance. They provide a death benefit and also accumulate cash value. The premium is determined at the time in which you purchase the coverage and is based on your age, the amount of coverage you wish to purchase the death benefit, and the amount of money you would like to contribute to the cash value of the policy. It is important to be aware of the guaranteed earnings in a universal or whole life policy and not just the current earnings or earning potential. Disability Income - this insurance is used to replace your earnings if you were to become disabled and unable to work. This coverage is a must for any working individual. When purchasing disability coverage it is important to be aware of the definition of disability as defined in the policy. This definition will be used to determine your eligibility to collect any benefits from the policy.
Short-Term - this is a temporary health insurance option to fill the gap for individuals and/or families who are losing insurance benefits. This may be due to changing jobs or graduation from school and looking for work. A short-term policy may be written for one month, one year, or anytime in between. It is primarily major medical coverage. It's primarily used to cover a period time while waiting for elegibility for comprehensive health coverage through an individual or group plan. Medicare Supplements - are an insurance plan that may be purchased by anyone eligible to received medicare benefits. There are a number of plans available to help pay for medical expenses not covered by medicare as long as it is a medicare approved charge. How much will be paid will be determined by the plan that you purchased. A good medicare supplement will cover the medicare Part A & B deductibles and the remaining $20.00 due on the medicare approved charges. Family / Individual - plans that are considered permanent forms of comprehensive health coverage. Premiums will vary by coverages desired and deductable options. It is important to discuss with your agent what you expect to be covered by a plan and any budget constraints you may have to insure that you are purchasing a plan that is right for you and your family. Group Health - as an employer, you know the importance of benefits to your employees. It is essential for attracting new employees as well as maintaining your current personnel. Whether you have 2 or 200 employees, Perspective Insurance can help. We have access to numerous companies to help you find a benefit package that fits your needs and budget. From small group plans to self-funding, Perspective is your source for all your group health needs.
Long Term Care - this coverage, also referred to as nursing home coverage, may be one of the most important forms of asset protection you can buy. Long Term Care insurance will pay a specified daily limit for each day you are confined to a nursing home. The daily limit is chosen at the time of purchase and will begin after the elimination period ends, which is also chosen by you. Dependent upon the type of plan you have purchased, a long term care policy can also be used to pay for home - health - care costs and intermediate facilities. |
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