Insurance
We all have family or others that we love and want to protect. A review of your insurance needs will ensure that you have the right type of insurance and that the price is fair.
LIFE INSURANCE
The basic principle of insurance is that a small amount collected from many can be used to alleviate the financial distress of a few, provided that a system for predicting the chance of losses is reasonable to the circumstances.
Purchasing an insurance policy results in the transfer of true risk of loss from the individual to the insurance carrier.
There is a wide variety of insurance products available in the marketplace, each with specific objectives. A key feature that segments life insurance products is the period of time for which the insurance product is designed: temporary or permanent. For example, you may need term insurance to cover the term of a mortgage, or permanent insurance to cover estate taxes.
A needs analysis will quantify the amount needed and then calculate the gap between personal resources and that need.
While life insurance provides protection in the event of death, disability insurance provides coverage for those unable to work because of a health impairment. Disability insurance pays a benefit during the insured’s lifetime.
CRITICAL ILLNESS
Critical Illness Insurance can provide you with a lump sum payment if you are diagnosed with a covered disease and survive 30 days after diagnosis. This money could be used to cover medical bills, modify your home for accessibility, supplement a caregiver’s income, travel costs for treatments or any other bills that may arise.
DISABILITY INSURANCE
You depend on your working income. Sudden illness and serious accidents can result in the loss of income. Disability insurance provides protection against this by paying a benefit when you are unable to work. Both personal and business disability insurance solutions are available that offer flexibility and features to help you through these times. If you are a professional, tradesperson or a home-based business we can help you with your income replacement needs.