Voluntary Benefits
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This document discusses building a strong financial foundation through voluntary benefit programs that can help protect employees from life's uncertainties. It highlights the importance of having insurance such as disability, life, long-term care, and critical illness insurance. Specific types of insurance coverage being offered through the employer include universal life insurance with long-term care and other riders, short-term disability insurance, and group critical illness insurance. Employees are encouraged to review their needs and coverage with their spouse.
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The document discusses building a strong financial foundation through voluntary benefit programs offered by Slone & Associates to employees of Medicorp. It emphasizes the importance of having insurance such as life insurance, disability insurance, long-term care insurance, and critical illness insurance to protect against uncertainties. Specific insurance options being made available include universal life insurance with long-term care and other riders, short-term disability insurance, and group critical illness insurance. Employees are encouraged to review their needs and consult with spouses.Short and long term disability insurance
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July 2017 newslettertoddrobison
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The document discusses alternatives to long-term care insurance (LTCI) for covering long-term care costs, including self-insuring using personal savings and income, using life insurance policies that allow access to death benefits for long-term care costs, and applying for Medicaid assistance. It notes that while LTCI provides dedicated coverage for long-term care, it can be expensive with a risk of paying premiums without ever needing the insurance. The alternatives aim to use existing assets like life insurance or qualify for government aid through Medicaid to help pay for long-term care.Financial Management abd YOU
Financial Management abd YOUalstraub
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The document outlines strategies for building financial security, emphasizing the importance of risk management, wealth accumulation, and wealth preservation at various life stages. It highlights the need for adequate insurance, investment plans, and retirement strategies, while addressing potential financial risks such as premature death and disability. Additionally, it stresses the significance of a personal needs analysis to tailor financial solutions that meet individual goals and circumstances.Insurance 101 risk mgmt workshop march 4
Insurance 101 risk mgmt workshop march 4cochranewealthmanagement
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This document discusses various types of insurance and risk management strategies. It covers topics such as life insurance, term insurance, whole life insurance, universal life insurance, disability income protection, critical illness insurance, and long term care insurance. For each type of insurance, the document provides details on coverage options, premium costs, benefits, and common uses. It emphasizes the importance of insurance for individuals, families, and business owners to manage risks related to mortality, health issues, loss of income, and more.Wink Risk Management
Wink Risk ManagementPlace2Give Foundation/Karma & Cents Inc.
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The document discusses various aspects of risk management, focusing on the importance of different types of insurance such as life, disability, and critical illness insurance, especially for women. It emphasizes the benefits and structures of insurance products, financial planning, and risk assessments tailored to individual circumstances. Additionally, the document highlights the significance of preparing for the financial implications of health challenges and the importance of strategic planning for financial independence and family legacies.Managing Finances
Managing FinancesGeoff Thompson
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This document provides information to help individuals analyze their personal financial security needs and develop a plan to achieve their goals. It discusses factors such as protecting a family's future if income is lost, preparing for retirement, funding children's education, disability protection, paying off a mortgage, and estate planning. The document advocates using a four-step process of analyzing one's current situation, identifying and prioritizing goals, developing and implementing a plan, and regularly reviewing and updating the plan to achieve personal financial security.Kfs disability 1
Kfs disability 1roowah1
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This document provides information about disability income insurance. It discusses the importance of having income replacement in the event of a disability, as other sources like savings may not be sufficient. It notes that disability is common and can lead to financial problems. The document provides a checklist for evaluating disability income policies and their benefits and features. It stresses the importance of purchasing adequate personally-owned disability income insurance to guarantee income if a disability prevents working.Kfs disability 1
Kfs disability 1roowah1
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This document provides information about disability income insurance. It discusses the risks of disability and how disability can impact one's finances and ability to earn income. It then presents disability income insurance as a potential solution to replace income in the event of disability. The document provides checklists to help individuals estimate their needs for disability income, evaluate policy features, and take action to implement a disability income insurance plan.Ad
Voluntary Benefits
- 1. A solid financial foundation can keep your future from falling through the cracks. Slone & Associates, Inc. Building a Financial Investment PYRAMID Through Voluntary Benefit Programs
- 2. Why We Are Here? Most employees dont have the time, or dont have access to information to secure and maintain their financial future . We are taking voluntary benefits to the next level by helping your employees build a financial foundation.
- 3. If You Dont Have A Foundation for Your Financial Pyramid Your Hard Earned Savings Could Disappear! Estate Planning Managing your retirement Growing Your Investments IRA, Savings, 401K Foundation to support your investments!
- 4. Is Your Financial Pyramid Safe From Lifes Uncertainties? The base tier of the pyramid represents the foundation of a sound financial plan. The function of this tier is to guard against lifes uncertainties, primarily with insurance. With adequate coverage, a family can be protected against unexpected occurrences in life that might otherwise create a financial hardship. Estate Planning Managing your retirement Growing Your Investments IRA, Savings, 401K The bricks of your Financial Foundation Home & Auto Ins. Health Ins. - Life Ins. Disability Ins, - Long Term Care Ins. Supplement Ins. (Accident, Critical Illness, Cancer) Legal Documents (Wills & Trusts)
- 5. What Part of Your Financial Foundation Needs Improving? Disability Insurance Average disability lasts 18 months. Disabilities are the cause of 42% of all foreclosures in the U.S. Waiting time to apply for S.S. Disability Income is 6 months. 80% of all SSDI applications are rejected on the first submission. Life Insurance Life insurance amount should be 10 times earnings . Life insurance on a stay at home parent with small children should be equal to the expense needed for full time care until the child/children reach elementary school. Setting up a final expense program during working years will save money in the future and guarantee coverage when you most need it. Final Expenses - $7,500 to $10,000 in todays dollars. Long Term Care 50% chance of a married couple needing Long Term Care after age 65. 40% of persons receiving long-term care are between 18 and 64. "More than half of all women and a third of all men will spend time a nursing home." The Wall Street Journal
- 6. Critical Illness Why purchase Critical Illness Insurance? Cancer, heart attack, stroke, or renal failure the requires dialysis, are all life changing events. Medical coverage will help your participants with a large portion of the medical expenses associated with the treatment of critical illnesses. But what about the out-of-pocket medical expenses? What about the expenses associated with a life changing event such as paralysis from a stroke? Will medical insurance, life insurance, or disability insurance pay for the construction of a wheelchair access ramp on the participants home? Group Critical Illness insurance provides a lump-sum benefit to help cover out-of-pocket medical expenses and the costs associated with life-changes following a covered critical illness.
- 7. Foundation Building Coverage's being made available! Univeral Life Insurance w/Riders- Conditional Guaranteed Issue Long Term Care Rider, if an employee buys a $50,000 life insurance policy, the Long Term Care Insurance is $100,000, payable if care is received at home or in a facility. 油 Spouse and child riders available. Spouse can apply without employee applying. Waiver of Deductions for Layoff (Premiums paid for up to 6 months) Waiver of Premium (Premiums paid until age 60 if totally disabled) Opportunity to increase their life insurance without evidence of insurability. Terminal Illness Accelerated Death Benefit Option Rider Childrens Level Term Life Insurance Rider Cash Accumulation 100% portable at the current cost and coverage amount Short Term Disability Insurance You will be able to purchase disability insurance to cover 60% of your pre-tax earnings. Critical Illness Group Critical Illness insurance provides a lump-sum benefit to help cover out-of-pocket medical expenses and the costs associated with life-changes following a covered critical illness. 100% portable at current cost and coverage amount.
- 8. Take the Time to Review! We highly recommend that if you have a spouse, to please consult with them regarding these new benefits. Questions: Do you and or your spouse have life insurance that will last for the rest of your life? Is so, do you have enough? What type of disability coverage you have besides workers compensation? Critical Illness can be used for many types of expenses including income replacement. Since the disability insurance is only for the employees, does it make sense to purchase critical illness for my spouse, if he or she does not have disability insurance through their work?