Insurance Coverages
We Offer
Life Insurance
Chances are, you need life insurance!
No one really wants to think about life insurance. But if someone depends on you financially, it’s a topic you can’t avoid. In the event of a tragedy, life insurance proceeds can:
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Pay for funeral costs
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Help pay the bills and meet ongoing living expenses
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Pay off outstanding debt, including credit cards and the mortgage
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Continue a family business
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Finance future needs like your children’s education
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Protect a spouse’s retirement plans
Getting life insurance doesn’t have to be hard (or boring). We have some easy steps for you to walk through to see if life insurance is right for you. You’ll also find information and interactive tools to help you get a sense of how much and what kind to buy, plus information about how different life events—such as having children or buying a home—can affect your insurance needs. So why not get started!
Long Term Care Insurance
There comes a time for almost all of us when we need help at home to perform basic activities like bathing, dressing, making meals, keeping the house clean, etc. This is the beginning of the need for Long Term Care services. But this can be very expensive, costing thousands of dollars a month for some. Later, many people need full time care in a nursing home where the costs are even more staggering. How will you pay for it? If you plan well, you can use Long Term Care insurance to handle most or all of that cost.
Using long term care services can be very costly and has the potential to erase all of your assets or bankrupt a healthy spouse.
So, what money will you draw from to ensure the care that is needed?
The answer may be Long Term Care Insurance.
Here is a handy resource to see the average costs in your area today and projected into the future: https://www.genworth.com/aging-and-you/finances/cost-of-care.html
For more information, download our guide "What you need to know about Long Term Care insurance"
Disability Income
Insurance
What is your biggest asset?
Is it your house? Is it your investment account?
No, probably not! It is your ability to make an income.
Think about this: Your income times the number of years you have left to work is a very big number. Isn't this the thing you should protect above all others?
What if some illness or injury kept you from making an income? Or simply reduced it? Yes, an illness or injury is the biggest threat to your income.
If you are saying "OK, I understand that an illness or injury is the biggest threat to me making an income, so how can I protect myself from that?" then read on.
Disability Income Insurance is protection for your paycheck. If you cannot perform your occupation due to any illness or injury, you are effectively disabled. This insurance can make sure you still bring in an income in that circumstance.
EVERYTHING YOU PAY FOR RELIES ON YOUR INCOME. Your mortgage, your car payment, food, clothing, shelter, entertainment, kid's activities, college, vacations, retirement, and everything else. Please protect your income, and please let us help you obtain the best insurance on the market.
What are the chances? Probably more than you think.
Annuities
An annuity, in its most basic form, is a type of life insurance policy. With a basic annuity, you exchange a single lump sum of money with an insurance company for a perpetual income for the rest of your life. From the insurance companies' perspective, it is actually the opposite of life insurance, which pays out when you die, because this pays out forever until you die, then stops.
Annuities can either be:
Immediate - begins to pay you back right away, or
Deferred - will grow until it begins to pay you back in the future
Annuities can grow on the basis of being:
Fixed - Has a stated interest rate. Simple and Straight-forward
Fixed Indexed - Is tied to market index performance. Money is not actually at risk in the market
Variable - Money is tied up in stock and bond market products
An excellent use of an annuity is to create a guaranteed lifetime income similar to receiving a pension. This would be in a Single Premium Immediate Annuity (SPIA), or a Deferred Income Annuity (DIA). Some may turn to Variable Annuities (VA) for long term accumulation of money. Because of high fees and unfavorable taxation, FAIR Insurance Solutions does not offer VAs.