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Various definitions of disability. Some policies provide "Own Occupation" definitions and will pay benefits if the insured
is unable to work in his or her specialized field. If disability results in a 20% or more loss of earned income, then a benefit
is paid based on the amount of loss. A 75% or more loss may result in a 100% benefit payment.
The financial implications of a chronic disease or other debilitating condition that requires long-term care are great. The
most recent estimates of the annual cost of confinement to a nursing home is $20,000 - $60,000 per year with the average being
$38,000 per year or about $105 per day. Along with health care costs in general, these costs are expected to triple over the
next two decades. The average length of stay in a nursing home is 2-1/2 years. At an average annual cost of nearly $40,000
per year, a typical 2-1/2 year stay could cost in excess of $100,000. If having one marital partner in a nursing home costs
nearly $40,000 per year, the partner at home may experience difficulty in meeting routine costs for food, clothing, rent,
mortgage, and home maintenance. A middle-class couple with moderate income and assets may be unable to maintain a reasonable
standard of living and may become dependent on other family members. Some studies indicate that the long-term care crisis
will eventually affect 80% of all families in the U.S. It is estimated that only 1 in 6 Americans will be able to afford the
cost of long-term care when they need it.
Evergreen Consulting is committed to providing the highest possible level of financial services for you, your family and your
business. Because wealth protection is every bit as important as wealth accumulation, we believe the following facts deserve
careful consideration.
If your financial plan does not currently include solutions for long-term care, contact your Evergreen representative. Paying for life insurance hurts! But few can do without it. The key is to buy life insurance only for losses that you cannot
replace, such as your income. Avoid narrowly defined life insurance policies that only cover specific loss of life, such as
accidents, plane crashes or cancer. You're better off with insurance for any loss of life for a small increase in premium.
Don't skimp on life insurance. But remember that people with no dependents may not need life insurance policies at all. To
estimate the amount of a life insurance policy, estimate your dependent's living expenses if your income is no longer available.
Most life insurance consultants estimate five to ten times your annual income. Smoker life insurance costs two to three times
as much as non-smoker.
Term policies can meet a wide variety of business and personal needs and are a practical way to provide the most coverage
for your premium dollar. Whether you want to supplement your existing coverage or simply purchase insurance to meet a specific
need, our term policies have the flexibility to meet your needs.
Term insurance provides protection for a limited period of time and pays a death benefit if you die during that period. For
this reason, it is commonly referred to as temporary insurance. Although term policies do not accumulate cash value, many
do offer a feature that allows you to convert to a permanent policy within a certain time-without having to submit evidence
of good health.
Permanent policies can provide valuable protection for your family. They offer the potential not only for lifetime protection
and guarantees but also to build cash value. How that cash value grows varies based on the type of policy you have.
Variable life insurance policies provide permanent protection along with death benefits and cash values that can vary with
the performance of underlying investment options.
Variable life insurance provides for flexible premium payments with the potential for growth of your cash value and death
benefit-if the underlying investment options perform favorably.
Our variable life insurance policies give you the freedom to allocate your premium dollars among a variety of high quality
investment options, each with varying degrees of risk and potential for reward.
Variable Universal Life is a long term investment normally suitable for clients with investment experience, a higher level
of risk tolerance, and the financial resources to withstand investment fluctuations, including the possible loss of principal. Two Individuals. One Smart Policy. A Survivorship Variable Life insurance policy can help you provide for your loved ones, avoid excessive estate and income
tax, and ensure that your family business stays within your family's control.
A survivorship variable life policy is a "second-to-die" life insurance policy, which insures two people-usually a husband
and wife or business partners-with the death benefit payable upon the later death of the two insureds. Often the premiums
are lower than those for two individual insurance policies. This policy also has flexible features and a wide variety of investment
choices
Universal life insurance provides permanent insurance protection, usually with the security of a guarantee against lapse when
you pay a certain premium amount. Each of our universal life insurance policies has a guaranteed minimum interest crediting
rate plus features that you can adjust as your needs change and riders you can add to customize your coverage.
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