Life insurance can be the foundation of your financial security and can provide comfort and stability for your family. The purpose of life insurance is to help provide your loved ones with financial protection after you die, in exchange for the premiums you pay to your insurer during your lifetime. Some life insurance policies can provide you with financial protection for a specific duration, while others accumulate cash value, offering a living benefit that can be used for any purpose such as to help supplement retirement income, funding for a child’s education, or cash for emergencies.

Life insurance can be a key component in a diversified retirement planning strategy. As a small business owner, you may be limited in your qualified retirement planning options. Life insurance can provide an alternative to supplement the retirement funding vehicles you already have in place.

Life insurance pays a death benefit, generally income-tax free, to a beneficiary upon the death of the insured. In addition, life insurance can accumulate a cash value on a tax-deferred basis. 

Disability income insurance can help protect an employee’s ability to replace a portion of their income if they become too sick or injured to work. If your employees become disabled, a group long term disability insurance policy can help protect a portion of their income and provide a fundamental layer of security for their financial future.

Offering supplemental individual disability income insurance in addition to a group long term disability plan is one way to provide higher levels of protection for your employees without incurring any additional costs.

Some disability income insurance policies may also help protect your employees’ ability to save for retirement. In the event of a long-term disability, you need to ensure your employees are adequately protected.

For most of us, it is unpleasant to envision a time when performing routine tasks may become difficult as the result of injury, illness or aging. If the time comes when you need substantial assistance performing daily tasks, it is unlikely you will want cost to be the primary decision-making factor for your long term care. Long term care (LTC) services can be expensive and costs generally continue to rise. Planning early can help ensure that you have more control in receiving the type of care you want — in the setting you choose, should the need arise.

Long term care includes a variety of services and supports to help meet personal care needs over an extended period of time. The services include help performing Activities of Daily Living (ADLs), such as: bathing, continence, using the toilet, transferring to/from a bed or chair, dressing and eating. Long term care services are generally not covered under personal health insurance or Medicare because they are not intended to cure, improve or treat a specific medical condition.

Whether long term care services occur in a nursing home, assisted living facility or your own home, the costs can be a huge expense