FREQUENTLY ASKED QUESTIONS

Disability Insurance

1. What is the Definition of Disability?
Disability is considered either "Own Occupation," which is the inability to perform the duties of your own specific occupation, or "Any Occupation," which is the inability to perform the duties of any job for which your education and training qualify you.

2. How Much is the Benefit?
Most policies have a fixed monthly benefit. Although the benefit doesn't increase over time, you can usually purchase extra coverage or cost of living increases.

3. When do I Receive the First Benefit?
There is a waiting period between the time you become disabled and the time you begin to receive benefits. Waiting periods can range from one week to two years. In general, the longer the waiting period, the less the policy costs.

4. How Long Will the Benefits Last?
The benefit period, which is how long you receive monthly benefits, can range from six months to the rest of your life, depending on what your company offers and the choices you make.

Long Term Care

1. What is long term care?
A policy designed to help alleviate some of the costs assocaited with long term cre. Often, benefits are paid in the form of a fixed dollar amount (per day or per visit) for covered LTC expenses and may exclude or limit certain conditions from coverage.

Life Insurance

1. What is Life Insurance?
Insurance that guarantees a specific sum of money to a designated beneficiary upon the death of the insured or to the insured if he or she lives beyond a certain age.

 2. What are premiums
Payments to the insurance company to buy a policy and to keep it in force.

3. Can you please explain Term Insurance?
Life insurance that does not build up cash value and where the premium normally increases as the insured gets older.

4. What is Universal Life Insurance?
A flexible premium life insurance policy under which the policyowner may change the death benefit from time to time (with satisfactory evidence of insurability for increases) and vary the amount or timing of premium payments. Premiums (less expense charges) are credited to a policy account from which mortality charges are deducted and to which interest is credited at rates, which may change from time to time.

5. What is Whole Life Insurance?
A basic type of permanent life insurance which can provide lifetime protection at a level premium. Premiums must generally be paid for as long as the policy is in force.

More Questions?

You don't have to find the answer to your question on this web site. Feel free to give us a call to discuss it. You will be happy you did.

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