Long Term Care
Have You and Your Family Discussed Long-Term Care? Many people believe that a long-term care event will not happen to them. You may be in good health, active, and not old enough to think about planning for a potential long-term care event. But have you thought about what a long-term care event could do to your family and your finances?
Individuals are living longer . . . but we are not necessarily living these years in the best of health. Although medical advances have helped increase life expectancy, we still must face the realities of aging. One of these realities is the need for assistance with daily activities.
The best time to talk about a crisis is before it happens. That's why we encourage you to have a conversation about long-term care with your family today. As you discuss these important issues, please remember that Insurance Design Management can provide you with information about long-term care planning and review your financial plan to ensure that you're prepared for the life changes we all face.
Disability income insurance can provide you with a steady paycheck if a disability makes it impossible for you to continue working in your current occupation. When you purchase disability income insurance, you can rest easy knowing you and your loved ones will not need to find a new home or make other major life changes if a disability strikes. There’s no need to wait for months or years jumping through the administrative hoops that can come with Social Security Disability applications, or to meet their stringent “any occupation” definition of disability. This can enable you to continue meeting your ongoing financial obligations, such as mortgage payments, car loan repayments, insurance premiums, etc., without having to rely on your personal savings or draw from your retirement assets to pay these expenses. Disability income insurance can be purchased as a standalone policy, or can be added as an endorsement on many life insurance policies. Whatever your goal, Insurance Design Management can help you select the disability insurance policy that best fits your needs.
While life insurance is not something one necessarily likes to think about, having a solid policy in place can offer a number of benefits not the least of which is peace of mind. Life insurance can be used to help protect loved ones (a spouse, young children or other dependents) from loss of income in the event of your passing so that they do not endure a financial crisis. It can also pay for estate taxes and final expenses (e.g., burial costs, debts, medical expenses) so as not to burden your loved ones, or it can create an inheritance for your heirs. If desired your policy can also be used to make a planned charitable contribution at the time of your death (by making a charity the beneficiary of your policy). Whatever your goal, Insurance Design Management can help you select the life insurance policy that best fits your needs.