financial services
At Lord Insurance we know too well there is much more to the world of "Financial Services" than just life insurance.
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Life Insurance
Inevitably life insurance comes to mind when the phrase "Financial Services" is offered by an associate of an independent insurance agency. Protecting the future earning power of a family provider should be the cornerstone of every sound financial plan. Should you need a "needs analysis" for your family or a business continuation plan, we stand ready to help you along the way.
When was your last check-up?
Your financial health may depend on it
Chances are you take the time to regularly visit your doctor, dentist and other health care professional to ensure your physical health. Unfortunately many people forget the importance of getting regular “check-ups” of their life insurance coverage.
As your lifestyle changes, so do your life insurance needs. Lifestyle changes such as the following can have a significant impact on your life insurance needs.
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I can perform a Life Insurance Check-up to help make sure your current life insurance coverage meets your current needs. It’s a great way to give you and the ones you love peace of mind.
To schedule your Life Insurance Check-up, please contact me today!
term insurance
Term insurance provides a level death benefit with a level premium for a stated period of time. Some policies may be converted to permanent insurance for a period of time without evidence of insurability.
permanent insurance
Permanent insurance provides a level death benefit with a level premium for the life of the insured or the ability to abbreviate the premium and pay for the policy early.
return of premium life insurance
Imagine getting a money-back guarantee on your Term Life Insurance: Your family receives a lump sum of money if you die, but if you live the company returns all of your premiums!
Believe it or not, such a product now exists and is just one of the innovative solutions coming your way from some of the best insurers in the business. It’s called Return of Premium (ROP) and its aimed right at one of the greatest consumer objections to pure life insurance: "I’m probably not going to die, and my money will have been wasted."
Before this innovation, life insurance was available in two forms: Term Insurance and Cash Value Insurance.
Term Insurance is cheap and easy to understand. With Level Term Insurance, you know exactly what the premiums will be for a fixed number of years. It’s very affordable life insurance protection, but you get nothing if you outlive the policy.
Cash Value Insurance, on the other hand, includes pure insurance coverage – guaranteed renewable for your whole life – along with an investment component to build cash value. Building cash value, however, means paying higher premiums. While an unused term policy can feel like a waste, a cash value policy can often cost two or three times as much for the same coverage.
Return of Premium (ROP) Term is an elegant and effective new solution that splits the problem up the middle. It starts out like Term Life Insurance with one extra promise from the insurer: If you pay your premiums and you live, you get your money back. So if you know that you are going to be insured for the long haul, then think about tossing in a few extra dollars and getting it all back in the end.
When deciding how much life insurance coverage you need, you're giving yourself the opportunity to protect yourself and your beneficiaries for years to come. But if you don't correctly calculate how much money will be needed, you might be defeating the purpose of life insurance.
You can group the financial responsibilities you have at the time of your death into three categories: final expenses, income loss, and debts.
Once you calculate how much life insurance money you will need to protect you and your beneficiaries, you may contact your agent to help determine what amount of coverage is right for you. It's best to be prepared for this step, rather than guessing and leaving your family responsible for debts and an income loss.
annuities
Click here for a description of annuities
Will You Need Long Term Care Insurance?
Your personal risk of needing long-term care depends on many factors. The longer you live, the more likely it is that you will need long-term care. Women are at a much higher risk of needing to pay for formal long-term care. If family members are unable to provide care, and you cannot pay someone to take care of you, then a nursing home may be the only available option. If you know that certain health conditions run in your family, you may have a greater risk of needing long-term care than another person of the same age and gender.
Click here for more information about long-term care insurance
More about Long-Term Care Insurance.
Call Eddie Lord, "The Mobile Insurance Agent", today at (972) 268-9607.
