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Consider the Issues Life insurance is more than just paying premiums to an insurance company and the payment of a death benefit to your beneficiaries. It can also be used to achieve different financial goals. More Life Insurance information. Your employer may provide disability income insurance. But if the coverage won't provide at least 60% of your income, won't pay benefits up to age 65, and has a waiting period longer than your savings will keep you afloat, you'll probably need private insurance, too. More Disability Insurance information. Good financial planning is critical in protecting your independence, your assets and your choices. Considering long term care insurance is an important part of that process. You can create a more certain future for the person in your life with special needs. More on Special Needs. If you're responsible for evaluating or purchasing employee benefits for your company, you're probably concerned with price, flexible plan design and service. Learn why many discerning companies choose Guardian. Life Insurance Life insurance can provide an excellent opportunity for you to meet many of your goals while still protecting the financial security of your loved ones. All life insurance policies have some things in common-you make payments, called premiums, to the insurance company. When you die, the insurance company pays a death benefit to your beneficiaries. Often, this death benefit is received income tax-free. Permanent life insurance, however, can also provide a living benefit. When you pay your premium, part of it goes into a cash reserve and accumulates tax-deferred. You can generally access this cash reserve at any time, for any purpose. It can be used for things like education expenses, retirement income, and many other needs. It also remains in force during the insured's entire lifetime, provided premiums are paid as specified in the policy. Disability Income Insurance
When a disability leaves you unable to work for an extended length of time, you lose the ability to earn an income- the one thing you've always relied on to provide for yourself and your loved ones. Meanwhile, your living expenses continue-in fact, they're likely to increase for a number of reasons. You could need help around the house or have higher medical expenses, for example. That's where disability income insurance (DI) comes in. It's designed to help you maintain your standard of living when you cannot work. If you don't have much in the way of assets for a financial cushion, you need enough to cover costs and supplement your income until you can go back to work. |