Long Term Care and Life Insurance

Giving the Gift of Live

Most individuals purchase life insurance motivated by the love and concern they feel for their family. Insurance offers financial support and protection against unexpected events like an untimely death as well as life situations such as accidents and critical illness. It is our way of “insuring” that our loved ones are taken care of no matter what challenges life may throw their way.

Let us examine the top 3 concerns most individuals have.

  • Providing financial support for their loved ones/dependents. A big question for the breadwinner in a family is, “What will happen to my spouse, children and/or parents when I am no longer able or alive to provide for their needs?” Having life insurance can provide financial support to your dependents when they need it most. How much support they get will depend on your coverage and type of policy.
    • Understand what type of policy you need
    • Determine how much to buy
    • Know how much debt your estate will have – including taxes – after you die
  • Having enough money to pay for medical care. No matter how healthy one might be overall, getting ill or having an accident is seldom within our control. A disability, critical or terminal illness can drain your finances. In addition to paying for medical care, you have to take care of personal and household expenses while you are out of work. You also have to plan for medical inflation. No individual wants to pass this financial burden on to his/her family. Comprehensive health coverage can help you and your loved ones meet these critical needs more easily.
    • Consider a life or health insurance policy with additional critical illness or disability coverage
    • Determine what type of illnesses it covers
    • Examine the payout policy
  • Not being a burden to our loved ones/families. We cannot postpone the aging process or determine how it will play out. Increased life expectancy has its own set of challenges—paying for long term care. Most seniors want to stay in their homes which means being able to pay for an independent lifestyle after retirement. Long term care insurance can:
    • Support independent living at home or at an assisted living facility
    • Protects loved ones from the burden of daily care giving
    • Gives the insured more freedom over where they live and how long they can avoid moving into a nursing home

Insure yourself and your loved ones against the unexpected and the inevitable.

Call The Nowell Agency Inc. at 601.992.4444 for more information about our insurance products including life, health and long term care coverage, or request a quote online.