Term Life Insurance provides death-benefit protection for a stated time period with a level premium payment. Term periods may be 10, 15, 20, 25, 30 years, depending on the carrier.
Contact us to run term life insurance quotes for you. LPL Insurance Associates offers a variety of fixed and variable insurance products for our clients through selling agreements with the most competitive insurance carriers.
When considering additional insurance, it can be useful to look at how some key numbers compare with and without that insurance. Let us run a life insurance gap analysis report to determine if you and your family are adequately covered.
The financial consequences of a lengthy disability could literally cost millions. A 40-year-old worker who makes $75,000 a year and suffers a permanent disability could lose over $2 million in future earnings. People don't hesitate to insure their homes, cars or other valuable possessions, so why not insure something that is much more valuable than all those things?Benefits of Disability Insurance:
This analysis reflects the cash flow gap created by a disability event as well as the potential insurance solution to cover all or part of that gap.
The true cost of a disability is not limited to the lost income from being unable to work or any extra medical costs. There is also an opportunity cost resulting from not being able to invest and grow any of that money. This report looks at the overall wealth that could be lost due to a disability event.
Long-term care (LTC) goes beyond medical care to include all the assistance you could need if you ever have a chronic illness or disability that leaves you unable to care for yourself for an extended period of time (longer than 90 days). While older people generally require the most long-term care services, a young or middle-aged person who suffered a debilitating illness or accident may also require care.You may require long-term care due to:
Over the last 40 years, the average life expectancy has increased by more than 10 years. In fact, statistics show that for a 65-year old couple, there’s an almost 20%1 chance that one of them will live to age 95. This is all good news, however, the implication for today’s retirees is that they need to plan carefully with the future in mind.
Today’s investors are facing retirement income planning challenges that simply didn’t exist 20 or 30 years ago. Unlike previous generations who had the luxury of having their retirement funded by guarantees made by employers and/or the government, the assets you’ve accumulated in your 401(k) or Individual Retirement Account (IRA) could be your most important source of retirement income.
1 Source: http://www.oecd.org/newsroom/healthier-lifestyles-and-better-health-policies-drive-life-expectancy-gains.htm (October 2017) 2 Source: RP-2000 Mortality Table, Society of Actuaries