Your Personal Insurance Advisor

Agnic Advisors understands the importance of insurance to your financial survival.

We work with only the best insurance companies that can provide a combination of the lowest rates, outstanding customer service, and financial strength for many years to come. Here is an explanation of the most important types of insurance and how they are used:

Term Life Insurance

Term insurance provides life insurance coverage for a specific period of time, usually one to thirty years. After that period, the insured can either drop the policy, pay annually increasing premiums, or convert to permanent if the policy has that provision. If the insured dies during the term, the death benefit will be paid to the beneficiary. Term insurance is often the most inexpensive way to purchase a substantial death benefit. Term insurance is primarily used to provide coverage for the financial responsibilities of the insured which may include consumer debt, dependent care, college education, funeral costs, and mortgages.

Whole Life Insurance

With whole life insurance, part of your premium goes toward life insurance and part goes toward the investment or cash portion of your policy. This policy will last for the life of the insured as long as the policy kept current. The payout is assured at the end of the policy and it will have a guaranteed cash value.

Long Term Care Insurance

Long term care insurance covers care generally not covered by health insurance, Medicare, or Medicaid. Individuals who require long term care are not sick in the traditional sense, but instead, are unable to perform the basic activities of daily living (ADL’s) such as bathing, eating, dressing, etc. LTC insurance generally covers home care, assisted living, adult day care, respite care, hospice care, nursing home, and Alzheimer’s facilities. Many individuals may feel uncomfortable relying on their children or family members for support and find that long term care insurance provides peace of mind knowing that funds will be available for their care.

Disability Insurance

Insuring your most valuable asset means insuring your ability to earn an income. It is every bit as important as insuring your life, house, or car.

• Disability Income insurance provides a monthly cash benefit when you can’t work because of a covered accident or sickness. It helps to maintain your lifestyle by providing money for your monthly rent or mortgage, utilities, and other living expenses.
• Business Overhead insurance reimburses a business for expenses in the event a business owner becomes disabled. This policy typically pays benefits for one to two years and covers business expenses like salaries, taxes, rent or mortgage, utilities, etc. It can make a difference in keeping your business in business while you recover.

From the Insurance Advisor Blog

Posted on Wed, December 31st, 1969, from The Insurance Advisor Blog