Insurance ~ Life and Long-Term Care
Insurance ~ Life
A death in the family is not only emotionally devastating, it can also take a tremendous toll on the future financial security of a family. Suddenly, without the deceased’s income, paying the mortgage or providing for a child's college education may become much more difficult.
pays a specific lump sum to your loved ones for a specified period of time, usually from one to 20 years. If you stop paying premiums, the insurance stops. Generally, you should consider a term life insurance policy to:
- Get valuable coverage at an affordable price
- Help cover specific financial responsibilities like a mortgage or college expense
- Supplement a permanent policy
policies do not expire. They are intended to protect your loved ones permanently, as long as you pay your premiums. Some permanent life insurance policies accumulate cash value. That means the value of the policy will grow each year, tax-deferred, until it matches the face value of the policy. The cash can generally be accessed via loans or withdrawals, and can be used for a variety of purposes. Consider a permanent insurance policy if you want:
- Protection for life
- Payments that stay the same each year
- To put additional money into the policy on a tax-favored basis
- Cash value you can use while you are living
As an independent agent, we have the ability to find the appropriate carrier and product for your life insurance needs.
Insurance ~ Long Term Care
Beyond life insurance, at Generations Wealth Management, we have a passion for long-term care planning. Our personal lives have been affected by dynamic, successful fathers who suffered with dementia. However, we are blessed with parents who had the foresight in their 60s to obtain long-term care insurance to cover these years of care. We are passionate in developing long-term care plans for our clients to ensure that their financial plans are executed the way they are intended, with no disruption to income or assets.
Because the cost of an uncovered long-term care event can range from tens of thousands of dollars to more than a million, it makes sense to manage this risk. While people don't want to think about becoming frail or ill, if they have not planned for this eventuality, the ramifications for their family and their finances can be catastrophic.
Fixed Insurance products and services offered through CES Insurance Agency or Generations Wealth Management.