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Life & Long Term Care Insurance
Protection for Your Financial Future
When you plan for your future financial needs, it's important to select adequate
insurance coverage to protect you and your loved ones. Through a partnership with UVEST Financial Services, the Financial Services Group can provide you with access to quality life insurance and long-term care insurance products designed to help protect your hard-earned assets.†††
Life Insurance
Life insurance is a contract between an insurance company (the "insurer") and you (the "insured").
This contract promises to pay a person you choose (your "beneficiary") a sum of money, income tax-free, when you die.
In return, you pay premiums to the insurer. Life insurance can also help aid in the transfer of your wealth or for estate planning purposes.
Long-Term Care Insurance
Depending on your situation, i.e., your age, health condition, family situation,
and financial assets, you may want to consider Long-Term Care insurance. This insurance covers many of the
expenses associated with long-term care and ease the burden on your family, protects your assets, or preserves your assets for your heirs.
Benefits
You’ll Receive
Life Insurance
- Insurance benefits are not taxed
- Provide income to your beneficiaries when
you die
- Insurance proceeds can be used to pay estate
taxes
- A wide variety of insurance products to
meet your needs
Long Term Care
- Provides coverage should you become sick
and need in home or nursing home care
- Protects your assets from the high cost
of long term care
- Payable in monthly installments
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Fast Facts 
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Life Insurance
Cost
- From $50 per month to a single lump-sum
payment
- Depends on amount of insurance purchased
and age and health of insurer
Plan Types
- Term Insurance
- Permanent Insurance
- Variable and fixed rates
Tax Benefits:
- Tax-deferred interest
- Tax-free pay-out to beneficiaries
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Long-Term Care Insurance
Cost:
- From $100 per month to a single lump-sum
payment
- Depends on amount of insurance purchased
and age and health of insurer
Plan Types
- Monthly — usually not interest-earning
- Single payment — may pay competitive
rates with a minimum rate guarantee
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Types of Life Insurance
There are two general types of life insurance:
Term Insurance- You purchase protection (the "death benefit") for a fixed dollar amount
for which you pay a fixed cost every month. You are protected for the "term" of your policy, which could be
up to 20 years. If you die during that time period, the death benefit is paid to your beneficiaries tax-free.
Term insurance doesn't allow you to build-up cash-value, so it's usually the least expensive type of insurance you can buy.
Permanent Insurance - Just like term insurance, when you buy permanent insurance,
you choose the amount of protection to buy. Unlike term, however, permanent insurance allows you to
build-up cash-value that earns interest tax-deferred. There are many types of permanent insurance, but,
unlike term insurance, all of them guarantee that you stay protected as long as you pay your insurance premiums.
Some types of permanent insurance have a fixed-cost for your lifetime, others have premiums that can change.
The following are some of the more popular types of permanent insurance:
- Whole Life
- Universal Life
- Variable Life
- Variable Universal Life
Getting Started
The following information will help our Financial Consultants develop an insurance plan designed to meet your specific needs:
- Provide information on your current life insurance and long-term insurance plans
- Identify the gap between desired income
for your family and current income that would be provided from
social security, retirement plans, and other assets should you
die
- Identify the value of your estate and the means of transferring your estate to your beneficiaries; i.e., wills or trust
- Identify income coverage should you become incapacitated
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Highlights Below
