Disability
Disability Insurance- If you become too sick or injured to work for an extended period of time Disability Insurance could help cover a portion of your income usually 45% to 65% of your gross income on a tax- free basis. At a minimum, you should have enough coverage to cover your necessary living expenses.
Critical Illness
Critical Illness- This product was created to provide cash at a time it is needed the most. The financial consequences of surviving a critical illness is something few people are prepared for. This specialized insurance provides a lump sum tax free payment when an individual is diagnosed with a covered condition.
The three primary conditions are:
1) Cancer, 2) Heart Attack, 3) Stroke.
The policy also covers additional conditions. 1.4 million Americans are diagnosed with cancer each year, 785,000 will have their first heart attack and 600,000 will have their first stroke all of which the majority will survive.
Long-Term Care
Long Term Care Insurance – Long Term Care insurance provides ongoing assistance with some of the most basic activities of daily living such as eating, bathing, dressing, or getting in and out of a bed or chair. The assistance needed is caused by a chronic illness such as Alzheimer’s or other various disabilities. The benefit provides a daily amount for the services over a certain time.
Medicare Supplement Insurance
Medicare Supplement Insurance– This insurance can help pay some of the costs that Medicare does not cover like co-payments, coinsurance, or deductibles. Plans F&G are the only Medicare supplement plans that cover costs known as Medicare Part B excess charges. An excess charge is the difference between what a doctor or provider charges and the amount Medicare will pay.
Hospital Indemnity Plans
Hospital Indemnity Plans– Pays a set amount per day, per week, per month, or per visit if you are confined in a hospital.